Ukraine GDP Q1 2018


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.

FocusEconomics panelists expect GDP to expand 2.9% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect economic growth to accelerate slightly to 3.0%.

Author:, Research Team Manager

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Ukraine GDP Chart

Ukraine GDP Q1  2018

Note: Year-on-year variation of GDP in %.
Source: State Statistics Service of Ukraine and FocusEconomics Consensus Forecast.

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