Reports overnight show Ukraine's GDP fell by 1.1% yr/yr for the first quarter in 2014. Ukraine’s department of State Statistic Services report also indicated its economy dropped 2% in January-March from the previous quarter.

Analysts contribute the slide in GBP on the continuing political turmoil crippling the country’s already weakening finances.

The Ukraine’s (ESR, quote) economy has just come off a 3 year growth cycle with a nominal GDP of roughly 180.7 billion USD.

Last year its economy remains stagnated marking the end of the cycle.

First quarter only marks what is to come according to analyst and economist as expectations for the 2014 GDP to fall by 3% overall.

The iShares MSCI Emerging Markets Eastern Europe ETF  (ESR) has some exposure to the Ukraine economy. The exposure is mostly through indirect means with Russian (RSX, quote)  companies as it major holdings.