Ukraine GDP Q2 2018


Ukraine: Preliminary estimate points to accelerating growth in Q2

August 14, 2018

According to preliminary data released by the State Statistics Service of Ukraine on 14 August, the Ukrainian economy shifted into a higher gear in the second quarter. GDP rose 3.6% year-on-year in Q2, up from 3.1% in Q1, marking the strongest expansion since Q4 2016.

Although the breakdown by components is not yet available, the expansion in the second quarter appears to have been broad-based. Improved labor dynamics, coupled with easing inflationary pressures and higher consumer lending, likely bolstered private consumption in Q2, while healthy external conditions helped export growth to accelerate to a one-year high in the quarter.

On a quarter-on-quarter basis, the economy expanded a seasonally-adjusted 0.9% in the second quarter, unchanged from the previous quarter’s result.

Looking ahead, the economic recovery should continue gaining strength this year amid a pick up in investment activity and robust household consumption growth. FocusEconomics panelists see GDP rising 3.1% in 2018, which is unchanged from last month’s forecast, and 3.1% again in 2019.

Author:, Research Team Manager

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Ukraine GDP Chart

Ukraine GDP Q2  2018

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

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