Page 24 - UKRRptOct21

4.5.3 Retail sector dynamics
Ukrainian retail sales increased 9.6% y/y (and 1.1 m/m) in August slowing from 10.1% y/y growth in prior month, Ukraine’s State Statistics Service reported on September 20. In 8M21, retail increased 12.9% y/y (vs. 5.7% y/y in 8M20).
The highest growth of retail sales in 8M21 occurred in Chernivtsi (30.2% y/y), Ternopil (28.4% y/y) and Lviv (20.2% y/y) regions. The slowest growth rates were in Kharkiv (1.5% y/y), Ukraine-controlled Luhansk (7.4% y/y) and Donetsk (both 9.4% y/y) regions.
The growth rate of retail sales continues to decline as the effect of the low comparative base in the previous year wears off. Nevertheless, the retail growth remains quite high, spurred by revival of business activity.
We expect consumer demand to stay strong in 2021, allowing retail sales to accelerate to 10% y/y (vs. 7.6% y/y growth in 2020).
24 UKRAINE Country Report October 2021 www.intellinews.com