In the third quarter, GDP increased 3.4% over the same quarter the previous year. The figure was a notch below the 3.5% preliminary estimate released by the Statistics Committee on 15 November and represented a deceleration compared to the second quarter's 5.9% expansion. While the result benefited from a low base of comparison, as the economy had plunged 16.0% in the third quarter of 2009, the economy could not maintain the second quarter's momentum. The slowdown was mostly driven by a weaker contribution from the external sector. Exports decelerated markedly, expanding 6.0% (Q2: +14.9% year-on-year), while imports slowed from a 24.9% expansion in the second quarter to 19.9% in the third. As a result, the net contribution from the external sector to overall growth deteriorated from minus 3.6 percentage points in the previous quarter to minus 5.1 percentage points. On the domestic front, growth in total consumption picked up from 3.4% in the second quarter to 7.0% in the third. The expansion reflected stronger growth in both private consumption (Q2: +5.1% yoy; Q3: +7.5% yoy) and government spending (Q2: -0.7% yoy; Q3: +4.2% yoy). Moreover, fixed investment swung from a 5.7% contraction in the second quarter to a 3.6% expansion in the third. At the sector level, manufacturing led the deceleration, moderating the pace of expansion to 12.8% (Q2: 14.7% yoy), while agriculture contracted 3.3% (Q2: +3.4% yoy). In contrast, the services sector continued to recover, fuelled primarily by stronger growth in wholesale, retail trade and repair services, which increased 10.8% (Q2: +4.2% yoy). A quarter-on-quarter comparison corroborates the deceleration in economic activity as GDP expanded 0.1% over the previous quarter in seasonally adjusted terms (Q2: +3.9% quarter-on-quarter). The government expects the economy to expand 4.5% this year
Growth moderates in the third quarter
December 31, 2010
Looking for forecasts related to GDP in Ukraine? Download a sample report now.
Ukraine Economic News
October 10, 2016
In September, consumer prices rose 1.8% from the previous month, which contrasted August’s 0.3% decrease.
September 26, 2016
Industrial production returned to growth in August, after contracting in July.
September 21, 2016
Ukraine’s recovery gained steam in the second quarter, as the country heals from a deep recession.
September 16, 2016
In August, consumer prices fell 0.3% over the previous month, which followed July’s 0.1% decrease.
September 15, 2016
Stabilizing inflationary pressures in Ukraine’s tattered economy prompted the National Bank of Ukraine (NBU) to decide to cut the key policy rate from 15.50% to 15.00% at its 15 September monetary policy meeting.