(c) shutterstock.com

Ukraine’s economy declined by 0.7% against Q1

The State Statistics Service of Ukraine estimated a 5.7% growth in Ukraine’s real GDP in Q2 2020 y-o-y. At the same time, in the August preliminary review, the economic growth was estimated at the level of 5.4%, according to the State Statistics Service’s website.

According to these data, the nominal GDP for the quarter amounted to UAH 1.17 trillion.

Ukraine’s GDP contracted by 0.7% against Q1 2021 (after seasonal adjustment), though a preliminary estimate was -0.8%.

As GMK Center reported earlier, in 2020, the State Statistics Service estimated a fall in Ukraine’s real GDP at 4% compared to the previous year. Q4 2020 demonstrated a 0.7% contraction in Ukraine’s GDP against Q4 2019.