Record-breaking crops among key factors in GDP growth in 2019 – Ministry

Record crops have become one of the important factors in GDP growth, the pace of which in the second and third quarters of 2019 exceeded 4%, the press service of the Ministry for Development of Economy, Trade and Agriculture of Ukraine reported.

"One of the important factors of this growth was another record-high grain crop," the report says.

At the same time, the ministry notes that the potential for further productivity growth in agriculture remains very high, while the launch of a transparent and civilized land market will contribute to this.

In addition, high yields and vibrant trade contributed to export growth, which accelerated to 13.5% in the third quarter of 2019.

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"Among the components from the production side, the main drivers of growth remained agriculture amid harvesting record-high grain crops, as well as trade, against the background of stable high consumer activity," the statement said.

As UNIAN reported earlier, the State Statistics Service of Ukraine said GDP growth in the second quarter of 2019 accelerated to 4.6% on year.

At the same time, the agency worsened the estimate of real GDP growth in the third quarter of 2019 to 4.1%.

Grain harvest in Ukraine in 2019 amounted to a record 75.2 million tonnes, which is 4.1 million tonnes more than in the previous year.