Ukraine’s GDP dropped by 4% in 2020 according to the State Statistics Service

Kristina Levchuk

Ukraine’s GDP shrank following a four-year growth

The State Statistics Service of Ukraine estimated a 4% drop in Ukraine’s real GDP in 2020 compared to the previous year, according to a review on the Service’s website.

Ukraine’s GDP went down following a four-year growth. Nominal GDP amounted to UAH 4 trillion 194.1 billion, or UAH 100.47 thousand per capita.

Q4 2020 demonstrated a 0.7% contraction in Ukraine’s GDP compared to Q4 2019.

As reported earlier, the Ministry of Economy estimated a drop of Ukraine’s GDP in Q4 at 1%. Ukraine’s economy may grew by 4.6% in 2021. GMK Center’s analysis showed that the prospects for Ukraine’s economic growth in 2021 are estimated at 3–5% on average.