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4.4.3 Retail sector dynamics
Retail sales surged over the summer, pulling the year-to-date level up 5.9% y/y in comparable prices. The State Statistics Service has reported these national sales growth figures: June +8.5%; July +8.7%; and August +8.7%. Kyiv was the leader, recording January-August retail sales up 15% y/y. Next were: Zaporizhia region +13.3%; and Chernihiv +11.8%. Last year, retail sales were up 11.6% over the volume of 2018.
Ukrainian retail sales accelerated to 6.0% y/y growth in real terms in 8M20 from 4.2% y/y growth in 7M20, Ukraine’s State Statistics Service reported on September 21. In July, retail sales advanced 8.7% y/y (vs. 8.5% y/y growth in June), and climbed 2.2% m/m in real terms.
Regionally, the highest retail growth in 8M20 occurred in the Kyiv (15.0% y/y), Zaporizhzhia (13.3% y/y) and Chernihiv (11.8% y/y) regions. The top losers were the Zakarpattia (-8.7% y/y) and Chernivtsi (-3.0% y/y) regions.
Ukraine’s retail sales have picked up quickly. This implies that the changes in the disposable income of Ukrainians as a result of the coronavirus crisis have not been significant enough to reduce their consumption behaviour.
The situation in the regions where the retail sector suffered the most is also
28 UKRAINE Country Report October 2020 www.intellinews.com
