Page 22 - UKRRptNov18

4.0 Real Economy
Ukraine - GDP growth breakdown 2011 2012 2013 2014 2015 2016 (UAH mn)
Jan-Sep 2017
Annual GDP y/y growth
5.20
0.20
0.00
-6.80
-9.90
2.30
2.18
GDP per capita
3,569.76
3,855.42
4,029.72
3,082.46
2,125
2,186
/
Final consumption expenditure
1,094,231
1,221,163
1,337,048
1,410,177
1,715,636
2,018,854
1,754,681
Gross fixed investment capital formation
291,678
305,031
262,257
220,563
262,917
361,030
297,406
Exports
647,608
670,319
629,392
770,121
1,044,541
1,174,625
1,035,476
Imports
733,526
791,844
763,499
834,133
1,084,016
1,323,127
1,146,747
Source: CEIC
4.1 Industrial production
Ukraine's industrial output declined 1.3% year-on-year in September
following a 0.5% y/y decrease in August amid continuing declines in manufacturing and utilities, the nation's state statistics service Ukrstat reported on October 23.
Seasonally adjusted output remained at the previous month’s level (vs. a 0.7% month-on-month decline in August). In January-September, industrial output increased 1.8% y/y (vs. 2.2% y/y growth in January-August).
Mining output rose by 0.7% y/y in September (after a 2.3% y/y growth in August). In particular, coal production surged by 13.2% y/y while oil and gas production advanced by 6.4% y/y. Meanwhile, iron ore production dropped by 3.2% y/y.
September manufacturing output declined by 1.6% y/y (from a 0.5% y/y decrease in August), mostly owing to a drop in machinery (-4.5% y/y) and metallurgy (-1.3% y/y). Meanwhile, food industry output inched up by 0.3% y/y (from a 1.0% y/y decline in August). Output in utilities declined by 3.9% y/y in September (after a 6.4% y/y drop in August).
"Ukraine’s industry performance is disappointing," Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on October 24. " Hopefully, the food industry's recovery will help to stop the decline in overall industrial output in the fourth quarter of 2018."
The top 100 largest state-owned companies in Ukraine in 2017 saw net profit rise by 38.5% compared to 2016, to UAH 44.4 billion, while 88.5% of this amount was the profit of Naftogaz, according to data released by the Ministry of Economic Development and Trade.
22 UKRAINE Country Report November 2018 www.intellinews.com