Page 17 - UKRRptDec21

4.0 Real Economy 4.1 Industrial production
After a 0.7% decline in September in October 2021, industrial production in Ukraine returned to growth and grew by 1.4% compared to October 2020, the State Statistics Service reported on Tuesday.
The authority said that, adjusted for the effect of calendar days, industrial production in October 2021 compared to October 2020 rose even more – by 2.2% versus a decline of 0.9% a month earlier.
According to statistics, the increase in production was recorded in all sectors: in the extractive industry – by 0.6%, in the processing industry – by 0.4%, but the largest contribution came from the supply of electricity, gas, steam and conditioned air – 7.6%.
The State Statistics Service said that compared with September this year, industrial production in the country increased 7.8%, and taking into account the seasonal adjustment it grew by 1.9%.
Thanks to such indicators, in January-October of this year, the growth of industrial year-over-year remained at the level of 1.4%, including1.1% in the extractive industry, 1.5% in processing, and 1.7% in the supply of electricity, gas, steam and conditioned air.
The development of the processing industry in 10 years might double GDP to $300bn. As of today, the structure of Ukrainian GDP, the processing industry accounts for only 10.1%, while in Poland this figure is 19%, and in Turkey 20%. On average, the added value of selling one ton of wheat is $50 at best, while deep processing of grain into syrups and gluten guarantees $300 of added value. Ukraine continues to export up to 75% of the grown grain annually, while the neighboring countries export only 4-5%. The creation of a high-tech processing industry with the involvement of IT professionals will double national GDP in 10 years, bringing this figure to $ 300 billion, reported ukrinform.
17 UKRAINE Country Report December 2021 www.intellinews.com