Ukraine’s GDP

Economic recession may reach around 10% in Q2

The results of the first three months of 2020 proved to be worse than expected

GDP decreased by 0.8% against the previous quarter

The economic growth is however estimated at 3.6% in 2021

Yet, a 2.4% economic growth is projected in 2021

A further fall in GDP may be expected in the future, which, according to the Cabinet of Ministers, will reach 4.8% in 2020

According to the government’s estimates, Ukraine’s exports of goods and services will drop by 5.5% next year

The Ministry revised its initial growth forecast of 3.7%

Volodymyr Kompaniets, economic expert, says it was the first drop in the past 49 months

This is the lowest GDP growth rate since Q2 2016

The steel industry with a fall rate of 14.2% in November was among the sectors leading the industrial collapse

Nominal GDP amounted to ₴1,105.5 billion, ₴26,300 or $1,125 per capita