Ukraine Industry


Ukraine: Industrial production continues to shrink in September

October 22, 2014

In September, industrial production fell 16.6% over the same month last year, according to data released by the State Statistics Service of Ukraine. However, the figure was an improvement over August’s 21.4% decrease, which had marked a five-year low. Sharp drops were recorded in mining and quarrying, manufacturing as well as in electricity, gas, steam and air conditioning supply.

The conflict between the Ukrainian armed forces and pro-Russian separatist groups in the eastern regions of the country continues to have a negative impact on industry, which is already weak. Large contractions were recorded in the eastern regions of Luhansk and Donetsk, where the conflict has been concentrated. Industrial output in September dropped 75.0% annually in Luhansk and 59.5% in Donetsk.

On a monthly basis, industrial production increased a seasonally-adjusted 4.9% in September, which contrasted the 12.7% contraction tallied in August. The annual average variation in industrial output fell to minus 7.2% from August’s minus 6.3%.

FocusEconomics Consensus Forecast participants’ project that industrial output will contract 10.2% in 2014, which is down 2.3 percentage points from last month’s forecast. For 2015, panelists expect industrial production to fall 2.1%, which is down 3.1 percentage points from the previous month’s Consensus.

Author: Angela Bouzanis, Senior Economist

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Ukraine Industry Chart

Ukraine Industry September 2014

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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