Ukraine’s GDP fell by 1.5% in Q1 according to the State Statistics Service

GDP decreased by 0.8% against the previous quarter

According to the message published on the  website of the State Statistics Service of Ukraine (State Statistics Service), a 1.5% drop was recorded in the country’s real GDP in Q1 2020 compared to the same period a year earlier.

Real GDP declined by 0.8% against the previous quarter.

As reported earlier, according to the Ministry of Economy, Ukraine’s GDP fell by 1.2% in Q1 2020. The National Bank of Ukraine (NBU) estimates economic recession in Ukraine at 0.5% in Q1.

In 2019, Ukraine’s GDP slowed down to 3.3% from 3.4% in 2018. Industrial production in Ukraine decreased by 1.8% against 2018.