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The picturesque region is divided into 16 administrative districts. Except for regional center (city of Lutsk), there are four cities of regional value, eight small cities, 22 settlements of urban type and 1054 rural settlements in the region.
Volyn Region is characterized by comparatively warm moderate-continental climate.
Mineral potential of the region is characterized by presence of 18 types of minerals in the bowels of the earth, including 12 minerals of national value (coal, natural gas, peat, germanium, glass sand, underground spring and mineral water, peat mud, copper and phosphorite).
There are large deposits of slime in the region (61 mln. tons). They found out deposits of copper.
Blue-eyed Volyn is rich in rivers and lakes. The density of hydrographical net is by two times higher here than in Ukraine on average. more than 130 rivers flow through Volyn land; there are 170 lakes including biggest Svityaz. There are over 30 breeds of fish in lakes, including most valuable European eel.
Flora and fauna of this ancient land is rich. Flora counts 825 breeds of plants, including 28 breeds are put to the Red Book of Ukraine. One third part of the region's territory (691 000 ha) is covered by picturesque coniferous and mixed forests with roe deer, deer, wild boar, elk, aurochs and other wild animals.
15 forestries and nine specialized timber companies operate in the region.
5 000 persons are employed in forestry economy.
Organization of forestry is carried out on scientific basis foreseeing rational use of wood resources, forest rehabilitation on made cuttings and forestation of new areas.
Shatsky National Park created ten years ago is stretched on the area over 32 000 ha and carefully protects relict breeds of fauna and flora for present and next generations and unique world of Polissya nature.
Beginning from 1997, Volyn shows growth rates of industrial production. By growth rates the region enters top five regions of Ukraine.
There are 239 big, medium and small industrial enterprises in the region, where concentrated over 80% of workers and products of regional industry.
Economic potential is formed by processing industry (90,4%), food industry (21,9%) and machine-building (52,7%).
The leading enterprises of the region are OJSC «Lutsk Automobile Plant», OJSC «SKF Ukraine», OJSC «Elektrotermometriya», OJSC «Kovelsilmash», OJSC «Lutskplastmas», Gerbor – Holding Ltd, BRV-Ukraine Ltd, Modern Expo Ltd, OJSC «Volyholding», OJSC «Kovelmoloko», OJSC «Rozhishchens Creamery», PCF «Lutsk-kondyter» and State Enterprise «Lutsk Spirit-Alcohol Factory».
The growth rates of industrial products made 43,7% in 2007 – first place in Ukraine.
In extractive industry the growth made 17,1%, processing – 44,7% (production of food goods and drinks – 25,1%), cellulose-paper production and publishing activity – 46,9% and machine-building – 69,1%.
Significant increase was provided by enterprises of Ivanychivsky, Kovelsky, Ratnivsky, Turiysky and Kivertsivsky districts, cities of Novovolynsk and Lutsk.
Leading industry of Volyn Region is agroindustrial complex ensuring 30% of gross regional product. Main directions of specialization of this sector are growing of cereals, sugar beets, potato, vegetables, and also meat-milk stock-raising. The plant growing makes 48% of general agricultural production volume and stock-raising – 52%.
In 2007 the region made gross agricultural product to the amount of 2,9 bln. hryvna (in comparative prices of 2005).
All categories of farms made 109 400 tons in living weight (by 12,9% higher). The agricultural enterprises produced meat in living weight by 18,5% higher than in 2006.
Total number of pigs grew by 20 400 heads (by 6%).
Private enterprises, farms, production agricultural cooperative societies and 867 farm structures function on the base of collective agricultural enterprises today. They set system of monitoring of prices on agricultural products, mineral fertilisers, facilities of plant protection, oil products, equipment and others.
Investment resources enable to carry out technical retooling, master output of products competitive on internal and external markets.
All categories of farms own 1 052 200 ha of agricultural lands, including 674 900 ha – plough-land, 158 700 ha – haymaking, 207 200 ha – pastures and 11 400 ha – long-term planting. They created network of base farms where advanced technologies of production of agricultural goods are worked. The plant breeders work on creation of highly productive immune breeds of winter rye, furious barley and yellow forage lupine.
The regional building complex is represented by 135 enterprises and organizations providing building of objects of the industrial, agricultural, housing and social-cultural purpose.
Main enterprises for production of building materials are follows as CJSC «Lutsk House-Building Factory», Plant of Building Constructions Ltd, PC-LLC «Lutsk Brickwork ¹1» and OJSC «Dubechnensky Ceramic Plant».
Volyn Region make 4% of Ukrainian volume of ceramic non-heat-resistant brick, 15% – roofing felt, 50% – wood furniture for furnishing interior of housing apartments. The foreign trade turnover of commodities and services made USD 1316,2 mln. in the region for January-November 2007. Thus the volumes of commodity export grew by 25,3%.
The commercial operations are carried out with the representatives of 94 countries of the world. Biggest consumers of Volyn products are European Union countries. The leading place in the list of 25 EU countries with which the region has economic relations belongs to Germany, Poland and Hungary.
Trade and economic relations are actively supported with Russian Federation, Republic of Byelorussia, American, African and Asian countries.
Supply of electric equipment (19,5% of the regional export), mechanical equipment (14,7%), wood (13,2%), products of animal origin (12,2%), products of vegetable origin (9,1%), casein (6,4%), furniture (5,3%), textile and its wares (4,6%), polymeric materials and plastics (3,4%) prevail in the commodity structure of export.
USD 274 mln. of foreign investments came in the economic sector of Volyn Region from the beginning of investment activity.
Main countries-investors in the regional economy are Great Britain, Poland, Cyprus, Sweden, Switzerland, Canada, Austria, Slovakia, Germany and other countries.
Scientific and technical potential is represented by 13 higher establishments of education of I-II levels of accreditation, 25 branches of these establishments, 19 vocational schools, including six higher and 806 general schools.
19 organizations and enterprises perform research activity.
Economic potential of Volyn Region in combination with advantageous geographical location creates favourable conditions not only for effective entrepreneurial activity in the region but also for conducting active foreign-economic operations, promotes attraction of internal and external investments in economy. The boundary location of the region and specific of development create favourable conditions for integration in the world economy.

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