The motherland monument in Ukraine

Ukraine GDP Q3 2019

Ukraine: Growth eases but remains strong in Q3

GDP growth moderated to 4.1% year-on-year in the third quarter, according to a second estimate by Ukraine’s Statistical Institute (previously reported: +4.2% year-on-year). The result was down from the second quarter’s over two-year high of 4.6% but still marked a healthy reading for the economy nonetheless.

The slowdown in the third quarter was largely driven by private consumption growth easing to 8.4% year-on-year, from 11.8% in the previous quarter, which had marked the fastest acceleration since Q4 2017. Conversely, government expenditure rebounded by 1.1% in Q3 (Q2: -6.4% yoy), while fixed investment growth jumped to 13.9% from 7.9% in Q2, amid upbeat construction activity and cheaper financing conditions.

On the external front, exports growth soared to a near nine-year high in the third quarter (Q3: +13.5% yoy; Q2: +4.4% yoy), on the back of upbeat shipments of agricultural goods. Meanwhile, import growth eased to 6.2% from 9.1% a quarter prior amid a softer consumption and a weaker currency. As a result, the external sector contributed 1.2 percentage points to the overall growth, marking the first positive contribution in three-and-a-half years (Q2: minus 2.7 percentage points).

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest