Ukraine: Growth picks up in Q1
May 15, 2018
Growth picked up pace in the first quarter of the year, after decelerating throughout 2017. According to a preliminary estimate released by State Statistics Service Ukraine, GDP expanded 3.1% in the first quarter over the same period of 2017, accelerating notably from the previous quarter’s 2.2% increase. The economic recovery in Ukraine lost significant momentum in 2017 due to an economic blockade with the Donbass region, a slow pace of structural reforms and a poor performance by the external sector.
On a quarter-on-quarter basis, the economy expanded a seasonally-adjusted 0.9% in the first quarter, more than doubling from the previous quarter’s 0.4% growth.
More detailed data, including a breakdown by components, will be released on 19 June.
Author: Almanas Stanapedis, Economist