Industrial production in Ukraine fell by 2% y/y in January-September

Production in steel industry and production of finished steel products increased by 7.5% year-on-year during the period

The industrial production index in Ukraine fell by 2% in January-September 2025 compared to the same period in 2024, according to data from the State Statistics Service.

During this period, production in metallurgy and the manufacture of finished metal products increased by 7.5% year-on-year, while metal ore mining decreased by 5.6% year-on-year.

Overall, in the extractive and processing industries, the indicator decreased by 2.4% y/y, in particular in the extractive industry and quarrying – by 9.1% y/y, and in the processing industry – increased by 0.5% y/y.

The supply of electricity, gas, steam, and conditioned air in January-September 2025 increased by 0.9% y/y. Electricity production grew by 3.7% y/y, while distribution fell by 2.3% y/y.

At the end of September this year, industrial production grew by 5.6% month-on-month and remained at the level of September 2024. In particular, metallurgy and the production of finished metal products fell by 2.4% month-on-month and grew by 10.6% year-on-year, while metal ore mining increased by 8.8% month-on-month and 4.9% year-on-year.

As reported by GMK Center, industrial production growth in Ukraine slowed to 3.6% y/y in 2024, while in 2023, industrial production grew by 6.8% y/y. The slowdown in output last year was due to the following factors:

• power supply disruptions caused by missile strikes on energy infrastructure in the spring and summer of 2023;
• increased production costs due to rising energy prices and the devaluation of the hryvnia;
• labor shortages.

Last year, output in the metal ore mining and metallurgy sectors grew by 23% y/y and 19% y/y, respectively. Among other industries, the highest industrial production growth rates were recorded in the food industry (6.2%) and the production of building materials (4.2%).