State Statistics Service confirms assessment of Ukraine's GDP fall at 11.4% in Q2 2020
The fall in the gross domestic product (GDP) of Ukraine in April-June 2020 amounted to 11.4% compared to the same period in 2019, the State Statistics Service has said, confirming its preliminary assessment published in the middle of August.
According to the statistics, the drop in GDP in the first quarter of 2020 was 1.3%, while in the fourth quarter of 2019 there was an increase of 1.5%, in the third GDP grew by 3.9%, in the second by 4.7% and in the first quarter by 2.9%.
According to the State Statistics Service, real GDP in April-June (taking into account the seasonal factor) decreased 9.9% compared to the first quarter of this year.
According to the State Statistics Service, nominal GDP in the second quarter of 2020 amounted to UAH 867.8 billion, and per capita it was UAH 20,744. The deflator change was 5%
The Ministry for Development of Economy, Trade and Agriculture early August estimated the drop in Ukraine's GDP in the second quarter of this year at 11%, the same as the National Bank, and in general for the first half of the year – at 6.5%. The ministry, like the government, maintains its forecast for a 4.8% decline in GDP this year and expects it to grow by 4.6% next year.
The NBU expects a slowdown in the decline in the third quarter to 7.4%, in the fourth quarter – to 3.8%, in general forecasting a decline in GDP by the end of this year at 6%, and expects its growth by 4% next year.