Retail sales of Ukrainian retail enterprises—legal entities—increased by 9.1% in January–July 2026 compared with the same period in 2025, according to data from the State Statistics Service of Ukraine.
Thus, retail enterprises grew slightly faster than the country’s retail market as a whole, whose turnover increased by 9% during this period.
In July, enterprise turnover rose by 8.8% compared to July 2025 and by 3.7% compared to June of this year.
Overall, Ukraine’s retail trade turnover—which also includes estimates of the activities of individual entrepreneurs—reached approximately 1.7 trillion UAH over the seven-month period.
The difference between the growth rate of total turnover and that of legal entities is small—just 0.1 percentage points. However, the fact that comparable growth rates have been maintained indicates that the retail market’s growth is driven not only by small businesses but also by the corporate retail segment.
Retail enterprises include, in particular, national and regional supermarket chains, non-food stores, home appliance and electronics chains, pharmacies and specialty retailers, auto dealers, and other legal entities engaged in retail sales.
By the end of 2025, Ukraine’s retail trade had grown by 8.1%, so the figures for the first seven months of 2026 so far indicate that the market is maintaining higher growth rates.
Statistics from the State Statistics Service do not include territories temporarily occupied by Russia or parts of territories where hostilities are ongoing or have taken place.
The main problem with the draft Strategy for the Development of Ukraine’s Insurance Market lies not in individual phrases, but in the very methodology used to develop it, according to a statement by the Insurance Business Association (IBA).
It is also noted that the ASB views positively the very attempt to formulate a long-term state policy for the development of the insurance market and a number of proposed directions. Among them are the development of health and life insurance, war risk insurance, and agricultural insurance; expanding investment opportunities for insurers’ assets; further alignment of Ukrainian regulations with EU law, conducting a quantitative impact assessment prior to the full implementation of new solvency requirements, and revising certain excessive regulatory requirements.
At the same time, based on the results of its analysis, the ASB concluded that the main problem with the draft lies not in individual formulations, but in the very methodology used to structure it: the objectives, indicators, and measures do not form a sufficiently consistent cause-and-effect chain from market diagnosis to a measurable outcome.
According to ASB experts, one of the most striking examples is the goal of increasing insurance penetration from 0.81% of GDP in 2025 to over 2% of GDP in 2029–2030. Based on the macroeconomic assumptions used to validate the ASB’s analysis, reaching 2% by 2030 would require an increase in insurance premiums from approximately 72.3 billion UAH to 306 billion UAH—a rise of more than 4.2 times. This implies an average annual nominal growth rate of about 33.5% and a real growth rate of nearly 25% each year over the course of five years. The draft does not specify which insurance classes, or how many new customers, insured individuals, vehicles, properties, and businesses, would be required to achieve this result.
“An ambitious figure in and of itself is not a strategy. If it is not backed by calculations of effective demand, the number of new customers and insured assets, economic prerequisites, and specific measures, it remains a wishful target rather than a well-founded goal,” notes Vyacheslav Chernyakhovsky, CEO of the Association of Insurance Companies of Ukraine (ASB).
According to the ASB, the results of government policy should be measured by what has actually changed for citizens, businesses, and the insurance market, specifically: how many people and businesses have received insurance coverage; how many vehicles and properties are actually insured; how affordable insurance premiums are relative to the incomes of citizens and businesses; whether the sum insured and the quality of coverage have increased; whether the gap between existing risks and actual insurance protection has narrowed; and how competition and the ability to choose an insurer are maintained.
In the ASB’s view, growth in insurance premiums should not automatically be considered a sign of progress. For example, the sharp increase in premiums for compulsory motor third-party liability insurance (CMTPL) in 2025 was largely the result of a transition to a new pricing structure and an increase in the cost of policies, rather than a corresponding increase in the number of insured vehicles. Therefore, the ASB proposes evaluating monetary indicators simultaneously in current and constant prices, while distinguishing price changes from changes in the physical scope of insurance coverage.
Based on the results of a detailed analysis of the draft Strategy and Roadmap, the ASB concluded that the identified shortcomings cannot be addressed solely by making isolated amendments to individual provisions, and that it is advisable to prepare a new version of the Insurance Market Development Strategy through 2030, based on modern strategic planning methodology, realistic financial and economic calculations, and well-founded trends in key indicators.
The report notes that the draft Strategy for the Development of the Ukrainian Insurance Market and the Roadmap for its implementation were prepared by the National Bank of Ukraine in collaboration with other state institutions as part of the work of the Financial Development Committee under the Financial Stability Council.
Moldova and Kazakhstan remain the two largest markets for Ukrainian cheese: in January–July 2026, they accounted for 34.8% and 25.8% of Ukrainian exports, respectively, according to the Association of Milk Producers, citing data from the State Customs Service.
Germany became the third-largest buyer with a share of 13.1%.
Thus, Moldova and Kazakhstan together account for 60.6% of foreign demand for Ukrainian cheese among the markets listed, and the combined share of the three main markets reaches 73.7%, according to calculations based on data from the Milk Producers Association.
In total, Ukraine exported 8,200 metric tons of cheese over the first seven months of 2026, which is only 1.2% more than the figure for the same period last year.
Export revenue totaled $37.4 million, increasing by only 0.5%.
This means that the value of exports is growing even more slowly than their physical volume. The estimated average price of exported products was approximately $4,560 per metric ton and remained virtually unchanged year-over-year.
At the same time, Ukraine is increasing its cheese imports at a significantly faster rate. From January through July, 28.3 thousand metric tons of cheese were imported into the country—24.7% more than a year earlier—with a total value of $168.8 million.
As a result, Ukrainian cheese exports account for less than one-third of the volume of imports, and their geographic distribution remains fairly concentrated around several key markets.
Germany’s presence in both directions of trade is particularly telling: the country accounts for 16.3% of Ukraine’s cheese imports and is simultaneously the third-largest market for Ukrainian products, with a 13.1% share.
Source: Association of Milk Producers
Ukraine ranks 38th among the countries of the world in terms of the absolute amount of government debt, estimated at about $276.2 billion, or 122.6% of projected GDP in 2026, according to an analysis by the Experts Club information and analytical center.
The ranking was compiled on the basis of the International Monetary Fund’s April World Economic Outlook database. The General government gross debt indicator — the gross debt of the general government sector — was used to compare countries.
This approach makes it possible to compare countries using a single methodology, since national definitions of government debt may differ significantly.
According to the IMF estimate, Ukraine’s government debt in 2026 amounts to about $276.2 billion, corresponding to 122.6% of projected GDP. This figure is higher than the often-published data on direct government and government-guaranteed debt because the general government methodology covers a broader public administration sector.
In the global ranking, Ukraine is positioned between Sweden, which ranks 37th with debt of $279.3 billion, and Taiwan, which ranks 39th with $269.2 billion.
In terms of the debt-to-GDP ratio, Ukraine has a significantly higher debt burden than most countries in Central and Eastern Europe.
For comparison, Poland has about $745.5 billion in government debt, or 65.7% of GDP, Romania — $297.8 billion and 61.9% of GDP, Hungary — $211.1 billion and 77.9% of GDP, and Serbia — $47.77 billion and 42.6% of GDP.
The world’s largest government debtors in absolute terms remain the United States — about $40.73 trillion, China — $22.29 trillion, and Japan — $8.95 trillion.
The total government debt of 180 countries for which comparable IMF statistics for 2026 are available amounts to about $119.4 trillion, with the top ten accounting for approximately 81% of this amount.
Experts Club notes that assessing a country’s debt sustainability requires taking into account not only the absolute size of the debt, but also its ratio to GDP and the cost of servicing it.
Ukraine’s industrial poultry sector remains highly concentrated: by 2027, the six largest vertically integrated companies will account for more than 75% of chicken meat production, according to a forecast by the U.S. Department of Agriculture (USDA).
MHP remains the largest player, accounting for well over half of Ukraine’s industrial chicken production, according to the USDA FAS report Poultry and Products Annual, published on August 19, 2026.
Industrial broiler farms accounted for about 90% of Ukraine’s total chicken production in 2025. Another 8% came from household farms, and about 2% came from culled laying hens, parent stock, and other categories of poultry.
The USDA expects the role of industrial production to continue to grow, while the share of household farms will gradually decline.
Despite MHP’s dominance, the U.S. agency characterizes the Ukrainian market as competitive. Several medium-sized producers launched expansion and productivity improvement programs in 2025–2026, and some of the new capacity is expected to enter the market in 2026–2027.
Vertical integration allows companies to simultaneously engage in poultry farming, feed production, grain and oilseed cultivation, and processing, which helps offset price and military risks. The industry’s growth is currently financed primarily through companies’ own funds, as Ukrainian businesses’ access to international capital markets remains limited.
At the same time, the country’s largest producer continues its active international expansion.
In July 2025, MHP acquired 92% of Spain’s Grupo UVESA for EUR 270 million. According to USDA estimates, following the transaction, the group controls more than 10% of the Spanish poultry market, and the acquired capacity adds approximately 160,000 metric tons of chicken meat per year.
Sales in MHP’s European segment exceeded $1 billion by the end of 2025.
In May 2026, MHP acquired a 70% stake in Th. Nitsiakos AVEE, Greece’s largest vertically integrated chicken producer, with an option to acquire the remaining 30%.
The USDA reports that the Greek company’s revenue in 2025 was nearly EUR540 million, and the transaction is expected to be completed in several tranches by December 2028.
The number of Ukrainian enterprises with access to the European Union market is also growing. In 2026, the number of Ukrainian producers, processors, poultry slaughterhouses, and cold storage facilities approved by the EU increased by two, bringing the total to 19.
Among the most notable new entrants, the USDA highlights the Lutsk Agricultural Company, part of the Avesterra Group. According to the company’s management, it is implementing a large-scale expansion program with the aim of intensifying competition with MHP in both domestic and international markets.
The USDA forecasts that chicken meat production in Ukraine will increase from 1.386 million metric tons in 2025 to 1.48 million metric tons in 2026 and 1.54 million metric tons in 2027. The bulk of this growth is expected to come from industrial enterprises in the central and western regions of Ukraine.
Source: USDA Foreign Agricultural Service, Ukraine: Poultry and Products Annual, report UP2026-0022.
Retail sales in Ukraine in July 2026 increased by 4% compared to June, and year-over-year growth stood at 8.7%, according to data from the State Statistics Service.
The July data indicate that consumer activity remains fairly high in the Ukrainian domestic market.
Specifically, retail sales by legal entities rose by 3.7% in July compared to June and by 8.8% compared to July 2025.
From January through July, the country’s retail trade turnover increased by 9% year-over-year and reached approximately 1.7 trillion hryvnia in nominal terms.
Retail trade turnover for retail enterprises grew slightly faster over the seven-month period—by 9.1%.
By comparison, for the full year of 2025, Ukraine’s retail trade turnover increased by 8.1%.
Thus, after the first seven months of 2026, the retail market’s growth rate remains slightly higher than last year’s figure.
Future retail trends will depend on real household incomes, inflation, the labor market situation, and energy risks during the fall and winter months.
The State Statistics Service provides data excluding territories temporarily occupied by Russia and parts of the country where hostilities are ongoing or have taken place.
Source: https://stat.gov.ua/uk/releases/prodazh-i-zapasy-tovariv-u-torhoviy-merezhi-misyachna-01-072026
