Ukraine sees industrial production growing – statistics

Industrial production in Ukraine in March 2021 grew by 2.1% year-on-year (y-o-y) vs March 2020 without adjustment for a calendar effect.

Industrial production in March 2021 increased by 2.4% y-o-y with adjustment for a calendar effect, the State Statistics Service of Ukraine said on its website.

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When compared to the previous month, February 2021, industrial production in March 2021 rose by 10.9% without calendar adjustment and by 1.8% with calendar adjustment.

Split by major activity, the mining industry in March 2021 saw a 1.5% drop in production y-o-y, while the processing industry posted a 2.5% increase. The supply of electricity, natural gas, steam and conditioned air output grew by 7.3%.

Split by major industrial groups, production of intermediate consumption goods increased by 4.7%, while that of consumer durables grew by 56.6%.

Capital goods demonstrated an increase in production by 3.4%, while output of non-durable goods for consumers declined by 5.7%.

Background

• Ukraine's gross domestic product (GDP) in the third quarter of 2020 declined by 3.5% y-o-y, according to the State Statistics Service.
• Ukraine saw a slowdown in its industrial production to 0.3% in November 2020 y-o-y without calendar adjustment, after a 5% decrease in October 2020 y-o-y.
• Based on the results of 11 months of 2020, the Ministry for Development of Economic, Trade and Agriculture estimated the GDP decline at 4.7%, which was generally in line with the projected trend.
• On December 29, 2020, the ministry projected a 4.6% increase in the country's GDP in 2021.
• On December 18, 2020, Prime Minister Denys Shmyhal said the domestic economy might decline by no more than 5% of GDP in 2020.
• The decline in Ukraine's GDP in the 10 months of 2020 slowed to 5.2%, from 5.5% reported in January-September 2020.
• Industrial production in December 2020 grew by 4.8% against December 2019.
• On January 11, 2021, the Ministry for Development of Economy, Trade and Agriculture said Ukraine's growth domestic product might drop by 3% in the first quarter of 2021.