The economy of Ukraine is an emerging free market. Like other post-Soviet states, its gross domestic product fell sharply for 10 years following the collapse the Soviet Union in 1991. However, it grew rapidly from 2000 until 2008 when the Great Recession began worldwide and reached Ukraine as the 2008-2009 Ukrainian financial crisis. The economy recovered in 2010, but since 2013 the Ukrainian economy has been suffering from a severe downturn.