GDP growth in Ukraine in Q3-2025 accelerates to 2.1% - statistics
Real gross domestic product (GDP) of Ukraine in the third quarter of 2025 grew by 2.1% compared to the third quarter of 2024, while in the second quarter of this year the same indicator was 0.8%, and in the first - 0.8%, the State Statistics Service reported on Wednesday.
According to the data, real GDP increased by 0.8% in the third quarter of 2025 compared to the previous quarter, taking into account the seasonal factor. In the quarter before that, this figure was 0.2%.
At the end of October, the National Bank estimated the growth of Ukraine’s real GDP in the third quarter of 2025 at 2.1%, compared to the same period last year. Previously, it had forecasted a growth rate of 2.4%.
The updated forecast indicates that the estimate of real GDP growth in the fourth quarter of this year has worsened from 3.5% in July to 3.4%.
Overall, the National Bank worsened the GDP growth forecast for 2025 to 1.9% from 2.1% due to energy shortages, destruction of gas production capacities, and labor shortages. For 2026, the forecast was lowered from 2.3% to 2%. The inflation forecast for this year improved from 9.7% to 9.2%, and the forecast for next year remains at 6.6%.
According to the State Statistics Service, Ukraine’s GDP growth slowed to 2.9% in 2024, down from 5.5% in 2023, following a 28.8% drop in 2022 — the first year of Russia’s full-scale invasion.