GDP in Ukraine

Ukraine GDP | Economic News & Forecasts

Ukraine - GDP

GDP contracts in Q1

The economy swung to contraction in the first quarter, with GDP decreasing 1.3% year-on-year (Q4 2019: +1.5% year-on-year).

On the domestic side, fixed investment contracted 21.4% in Q1, contrasting the 18.6% increase in the prior quarter; private consumption grew 8.1% in Q1, marking the slowest acceleration since Q2 2018 (Q4 2019: +11.7% yoy); and government consumption dropped at a quicker pace of 9.7% in Q1 (Q4 2019: -6.8% yoy).

Meanwhile, exports of goods and services growth waned to 0.9% in Q1 (Q4 2019: +3.1% yoy). Conversely, imports of goods and services contracted 4.0% in Q1 (Q4 2019: +2.4% yoy).

On a seasonally-adjusted quarter-on-quarter basis, the economy contracted 0.7% in Q1, after flatlining in Q4 2019. Q1's reading marked the largest contraction since Q2 2015.

The economy is set to shrink this year as Covid-19 takes its toll. A higher unemployment rate and social distancing measures will weigh on private consumption, while lingering uncertainties should restrain capital inflows. On the upside, the recently secured IMF loan should give the government room to boost fiscal spending and cushion the downturn.

FocusEconomics Consensus panelists project GDP to fall 3.2% this year, which is unchanged from last month’s forecast. In 2020, they see the economy expanding 4.0%.

Ukraine - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)-9.8  2.4  2.5  3.4  3.2  

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Ukraine GDP Chart

Ukraine GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: State Statistics Committee of Ukraine (Ukrstat).

Ukraine Facts

Value Change Date
Bond Yield19.000.0 %Jul 27
Exchange Rate23.700.30 %Jan 01

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