Ukraine Industry April 2017

Ukraine

Ukraine: Industrial output plummets in April as economic blockade is kept in place

May 26, 2017

Ukraine’s industrial activity suffered a significant decline in April. According to data released by the country’s State Statistics Service, industrial production plummeted sharply by 6.1% annually, which followed March’s 2.7% fall. This marked the biggest contraction in nearly two years.

The result reflected broad-based declines in all three major sub-components. Mining and quarrying saw the biggest fall while electricity, gas, steam and air conditioning supply, and manufacturing contracted less sharply. The drastic downturn in industrial output has emanated from a trade halt with the rebel-held eastern regions of the country. Industrial production fell by around 24% in Donetsk and 46% in Lugansk in April.

The trend followed suit, deteriorating even further. Annual average growth in industrial output fell from March’s 1.6% to 0.7% in April.

Sequential data painted a similar picture of industrial production. In April, output fell a seasonally-adjusted 6.9% over the previous month, a sharp contrast from March’s 8.9% rise.

FocusEconomics Consensus Forecast participants project that industrial output will grow 2.6% in 2017, which is up 0.3 percentage points from last month’s forecast. For 2018, panelists expect industrial production to rise 3.5%.


Author:, Economist

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Ukraine Industry April 2017 1

Note: Year-on-year and annual average variation of industrial production in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.


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