Decline of Ukrainian GDP slowed to 30.8% – State Statistics Service
The State Statistics Service reports that Ukraine’s real gross domestic product (GDP) in the third quarter of 2022 fell by 30.8% compared to the third quarter of 2021.
This followed a 37.2% drop in GDP in the second quarter of this year and a 15.1% drop in the first quarter.
Thus, compared to the previous quarter, seasonally adjusted, GDP grew by 9%.
The State Statistics Service reports that in 2021 Ukraine’s GDP grew by 3.4% after a 3.8% decline in 2020, its nominal volume was approximately $200 billion.
Prior to this, the Ministry of Economy noted that Russian attacks on Ukrainian energy infrastructure increased the rate of economic decline in Ukraine to about 39% in October and 41% in November.
Thus, the overall forecast for the year was downgraded from 32% to 33.2%.
At a briefing on December 8, NBU officials also said that the Russian energy terror worsened the National Bank’s estimate of a 31.5% decline in GDP this year.
The IMF expects the Ukrainian economy to fall by 33% this year.
