GDP growth in Ukraine in the IV quarter to 5.9%, in 2021 – 3.2%

The Ukrainian Statistical Office has published macroeconomic results of the past and early this year. In the fourth quarter, Ukraine’s GDP growth amounted to 5.9%, increasing the pace compared to an increase of 2.7% three months earlier. The country’s economy completed the entire past year with a growth of 3.2%. The negative balance of the foreign trade balance in 2021 was noted at the level of 4.728 billion dollars, having decreased by 8.1% in annual terms. The surplus of the consolidated balance of payments last year decreased by four times compared to the previous year, amounting to $487 million. The Fitch Ratings agency’s forecast for the country’s GDP growth this year has been lowered to 2.9% from 3.9% expected in August. The worsening of forecast is caused by the weakening of domestic demand against the backdrop of the war of RF against Ukraine and the high cost of natural gas. According to official statistics, the country’s foreign trade deficit was $2.2 billion in January. In twelve months, it grew by 18.8%. Over the year, exports grew by 53%, amounting to $6.03 billion. Imports in the amount of $6.25 billion increased by 49%. Consumer prices in January 2022 accelerated growth to 1.3% from the December level of 0.6%.

Source: xCritical.com