Industrial production in Ukraine reverses growth trend seen in last 4 months

The decline in industrial production in June was recorded for the first time and follows several consecutive months (February-May) of growth, the report noted.

Industrial production in June 2016 fell by 2.1% from the previous month. In the January-June 2016 period, industrial production in Ukraine grew by 2%.

According to the State Statistics Service, the highest growth dynamics in June 2016 were seen in the production of computers (53% y-o-y), rubber and plastic products (7.7% y-o-y), and in the chemical industry (5.2% y-o-y).

Read alsoGeneral Electric signs cooperation agreement with major Ukranian enterprisesThe highest production growth rates in June 2016, in comparison with the previous month, were recorded in the production of computers (52.4%), mechanical engineering (6.1%), and textile production (8.4%).

The greatest decline in production in June 2016, compared with June 2015, was recorded in coal and lignite coal production (down by 17.7%), crude oil production (down by 9.8%), and production of furniture (down by 13.2%).

The steepest decline in production in June 2016, compared with May this year, was seen in oil refining (down by 16.4%), and coal and lignite coal extraction (down by 14.5%). The data excluded the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and part of eastern Ukraine, which is the so-called Anti-Terrorist Operation zone.

As UNIAN reported earlier, Ukraine's industrial output growth in May 2016 slowed down to 0.2% from 3.5 % y-o-y. According to the State Statistics Service, the drop in industrial production in May accelerated to 3.7% compared with April 2016, following a decrease of 3.4% in April in comparison with March. From January to May 2016, industrial output grew by 3.1% (y-o-y).

In 2015, the decline in industrial production accelerated to 13.4% from 10.7% recorded in the previous year.

According to the expert consensus forecast compiled by UNIAN, industrial production in Ukraine can grow 3% this year.