The Gross Domestic Product (GDP) in Ukraine contracted 37.20 percent in the second quarter of 2022 over the same quarter of the previous year as the nation’s infrastructure, exports, and consumption fell sharply following the Russian invasion. source: State Statistics Service Of Ukraine

GDP Annual Growth Rate in Ukraine averaged 1.73 percent from 2000 until 2022, reaching an all time high of 14.30 percent in the third quarter of 2004 and a record low of -37.20 percent in the second quarter of 2022. This page provides - Ukraine GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ukraine GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.

GDP Annual Growth Rate in Ukraine is expected to be -40.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ukraine GDP Annual Growth Rate is projected to trend around -8.00 percent in 2023 and 3.00 percent in 2024, according to our econometric models.

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Ukraine GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-02-04 01:15 PM YoY Prel Q4 5.9% 2.7% 1.5%
2022-03-11 01:00 PM YoY Final Q4 6.1% 2.8% 5.9%
2022-11-04 01:00 PM YoY Prel Q3

Related Last Previous Unit Reference
GDP Growth Rate -19.20 -19.30 percent Jun 2022
GDP Annual Growth Rate -37.20 -15.10 percent Jun 2022
GDP Constant Prices 739426.00 737571.00 UAH Million Dec 2021
Gross Fixed Capital Formation 172472.00 118920.00 UAH Million Dec 2021
GDP from Utilities 1937.00 2101.00 UAH Million Dec 2021
GDP from Transport 39915.00 40509.00 UAH Million Dec 2021
GDP from Services 98797.00 94252.00 UAH Million Dec 2021
GDP from Public Administration 32294.00 29377.00 UAH Million Dec 2021
GDP from Mining 31374.00 31695.00 UAH Million Dec 2021
GDP from Manufacturing 84363.00 72017.00 UAH Million Dec 2021
GDP from Construction 33182.00 25194.00 UAH Million Dec 2021
GDP from Agriculture 120569.00 141808.00 UAH Million Dec 2021

Ukraine GDP Annual Growth Rate
On the production side, services are the biggest sector of Ukrainian economy and account for nearly 68 percent of total GDP, of which the most important are; domestic trade (14 percent) and accommodation and food service (13 percent). Industry accounts for 22 percent of GDP and is divided by manufacturing (11 percent); and agriculture (10 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-37.20 -15.10 14.30 -37.20 2000 - 2022 percent Quarterly

News Stream
World Bank Cuts Growth Forecasts
The World Bank cut its global growth forecast for 2022 to 2.9% in June from 4.1% reported in January, citing the war in Ukraine, surging energy and food prices, and rising interest rate. The WB added that for many countries, recession will be hard to avoid and to reduce the risks of stagflation, policymakers should work to coordinate aid for Ukraine, counter the spike in oil and food prices, step up debt relief, strengthen efforts to contain COVID-19, and speed the transition to a low-carbon economy. In 2022, the US GDP is seen rising 2.5% (vs 3.7% forecasted in January), China 4.3% (vs 5.1%), Japan 1.7% (vs 2.9%) and the Euro Area 2.5% (vs 4.2%). The Russian economy is expected to contract 8.9% and Ukraine 45.1%.
IMF Lowers Global Growth Forecasts
The IMF lowered its global growth projections to 2022 by 0.8 percentage points to 3.6% in 2022 and by 0.2 percentage points to 3.6% in 2023 due to the war in Ukraine. It also sees 2022 inflation at 5.7% in advanced economies and 8.7% in emerging market and developing economies, 1.8 and 2.8 percentage points higher than projected last January. The US economy is seen growing 3.7% this year, China 4.4%, the Euro Area 2.8% and Japan 2.4%. Russia GDP is expected to contract by 8.4% and Ukraine by 35%.
Ukraine Q4 GDP Grows More than Expected
Ukraine's gross domestic product expanded 6.1 percent year-on-year in the fourth quarter of 2021, advancing from an upwardly revised 2.8 percent growth in the previous period and beating market estimates of a 5.9 percent rise. It was the third expansion in a row, ending a year of contraction as the economy started to recover from the coronavirus pandemic.However, Ukraine's economy is set to hit badly due its current military conflict with Russia.The first high-level ministerial talk between the two countries since Russia invaded Ukraine three weeks ago,failed to make any progress in ending the war. So far, the Russian forces have destroyed at least USD 100 billion worth of infrastructure,buildings and other physical assets as per Ukraine's top government economic adviser Oleg Ustenko. Meanwhile,on a seasonally adjusted quarterly basis, the economy advanced 1.9 percent following a downwardly revised 1.5 percent expansion in the previous quarter.