Page 32 - UKRRptDec20

4.4.3​ Retail sector dynamics
Ukrainian retail sales accelerated to 7.6% y/y growth in real terms in 10M20 from 6.7% y/y growth in 9M20​, Ukraine’s State Statistics Service reported on October 20. In October, retail sales advanced 15.2% y/y (vs. 11.6% y/y growth in September), or 4.3% m/m.
Regionally, the highest retail growth in 10M20 occurred in the Kyiv (17.2% y/y), Zaporizhia (14.9% y/y) and Chernihiv (13.5% y/y) regions. The top losers remained the Zakarpattia (-5.4% y/y) and the Chernivtsi (-0.2% y/y) regions.
Retail sales in Ukraine are surging, backed by fast growth of wages. The strong household consumption is helping the economy to offset the fall in investments. We expect Ukraine’s retail sales to increase 9% y/y 2020 (vs. 10.3% y/y in 2019).
32​ UKRAINE Country Report​ December 2020 ​ ​www.intellinews.com