State Statistics Service Improves estimate of Ukraine’s GDP Growth – KyivPost

The real Gross Domestic Product (GDP) of Ukraine in the third quarter of 2021 increased by 2.7% compared to the same period in 2020, the State Statistics Service has reported in an updated estimate.

Earlier it estimated growth in mid-November at 2.4%.

According to its data, nominal GDP amounted to Hr 1.498 trillion, and per capita at Hr 36,150.

The State Statistics Service added that compared with the previous quarter (taking into account the seasonal factor), GDP grew by 1.5%, which is slightly better than the preliminary estimate of 1.4%.

The change in the deflator was 25.5%, compared with 26.4% in the second quarter and 20.7% in the first quarter of this year.

In September, the State Statistics Service also improved its estimate of the growth of the Ukrainian economy in the second quarter of this year – from 5.4% to 5.7% and set the nominal GDP at Hr 1.169 trillion.

The statistics point to a change as in June the service, on the contrary, had worsened the estimate of the recession of the Ukrainian economy in the first quarter of this year – from 2% to 2.2%, calculating the nominal GDP at the level of UAH 1.009 trillion.

According to the department, in the first quarter of 2020, the decline was 1.2% compared to the first quarter of 2019. In the second quarter of last year it accelerated to 11.2%, after which it slowed down to 3.5% in the third quarter and 0.5% in the fourth.

Nominal GDP in the first quarter of last year was Hr 853.69 billion (deflator change – 5.3%); in the second, Hr 874.62 billion (5.6%); in the third, Hr 1.162 trillion (8.4%), and in the fourth, Hr 1.301 trillion (17.5%).

From our partner magazine The Odessa Journal

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