Ukraine's GDP down by 4% in 2020 – statistics

16:48, 22.03.2021 1 min read

Ukraine's real gross domestic product (GDP) in 2020 fell by 4% after four years of growth, the State Statistics Service has said.

According to its data, the nominal GDP amounted to UAH 4.194 trillion, and per capita - UAH 100,470.

The service clarified that the change in the deflator in the past year was 9.8%.

According to the agency, in the first quarter of 2020 compared to the first quarter of 2019, the decline was 1.2%, in the second quarter 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 UAH 854.05 billion (deflator change - 5.3%), in the second - UAH 875.34 billion (5.6%), in the third - UAH 1.163 trillion (8.4%) and in the fourth - UAH 1.302 trillion (17.5%).

The State Statistics Service recalled that in 2019, Ukraine's GDP grew by 3.2%, a year earlier - by 3.4%, and in 2017 and 2016 it increased by 2.5% and 2.4% respectively, after a decline of 9.8% in 2015 and 6.6% in 2014.

The government predicts the growth of the Ukrainian economy by 4.6% in 2021.