Ukraine's gross domestic product ( GDP) rose 0.2 percent to reach 175 billion U.S. dollars last year, compared with a growth of 5.2 percent in this regard in 2011, the State Statistics Service said Wednesday, according to Xinhua.

Slow internal demand of Ukrainian goods and unfavorable internal financial situation, especially a declining manufacturing, construction, transportation, agriculture and banking sectors, were blamed for the fall in the economic growth.

The Ukrainian government is predicting a GDP growth of 3.4 percent this year.