Ukraine’s GDP in 2018 is expected to grow by 3.1% amid 9.5% inflation (Dec over Dec) and the growth is expected to slightly slow in 2019 to 3.0% amid 7.4% inflation, according to an updated consensus forecast released by Ukraine’s Ministry of Economic Development and Trade.
The growth of Ukraine’s gross domestic product (GDP) in April-June 2018 was 3.8% compared to the same period in 2017, whereas according to the preliminary assessment of the State Statistics Service, published in mid-August, this indicator was 3.6%.
The deficit of Ukraine’s foreign trade in goods in January-July 2018 increased by 42.7% compared to January-July 2017, to $4.064 billion (it was $2.848 billion in January-July 2017), the State Statistics Service of Ukraine said.
Revenue of Ukraine’s national budget in August 2018 amounted to UAH 93.96 billion, which was UAH 2.79 billion, or 2.9% less than the planned figure, the State Treasury Service of Ukraine reported.
Income from profit tax to the general fund of the national budget in January-August 2018 exceeded the planned figure by 20.2% and amounted to UAH 72.5 billion, the State Fiscal Service has reported.
Money supply in Ukraine in August 2018 grew by 0.3%, to UAH 1.233 trillion, such preliminary data of monetary statistics are posted on the website of the National Bank of Ukraine (NBU).
The gross foreign debt of Ukraine as of the beginning of July 2018 was $113.751 billion, which is 1.47% or $1.7 billion less than at the beginning of the year, according to the website of the National Bank of Ukraine (NBU).
Ukraine’s gross external debt in the second quarter of 2018 declined by $1.4 billion, or 1.2%, to $113.8 billion, and stands at about 93.6% of GDP, the National Bank of Ukraine (NBU) said, based on its preliminary estimates of GDP.
The international reserves of Ukraine in August 2018 decreased by 2.9% and amounted to the equivalent of $17.232 billion by September 1.
Industrial production in Ukraine in August 2018 decreased by 0.5% compared to August 2017, while in July the growth was 2.9% compared to July 2017, in June this figure was 2.2%, in May some 2.5%, in April some 3%, the State Statistics Service has said.
Retail trade turnover in Ukraine in January-August 2018 increased by 5.4% in comparable prices in comparison with January-August 2017, the State Statistics Service has said.
Consumer prices in Ukraine, after the decrease by 0.7% in July, in August remained unchanged, while since the beginning of the year their growth was 3.6%, the State Statistics Service of Ukraine has reported.
Ukraine in January-September 2018 reduced transit of natural gas through its gas transportation system (GTS) by 7% compared to the same period in 2017, to 65.449 billion cubic meters, according to live data from PJSC Ukrtransgaz. According to calculations made by the Kyiv-based Interfax-Ukraine news agency, in particular transit of gas through Ukraine to Europe during this period amounted to 63.432 billion cubic meters (7.5% down), to Moldova to 2.017 billion cubic meters (11.1% up).
In September 2018, transit of gas decreased by 13.9% compared to the same month in 2017, to 7.232 billion cubic meters. In particular transit of gas through Ukraine to Europe amounted to 7.07 billion cubic meters (14.1% down), to Moldova to 162.1 million cubic meters (0..04% down).
As reported, Ukraine in 2017 increased transit of natural gas through its GTS by 13.7% (11.257 billion cubic meters) compared to 2016, to 93.457 billion cubic meters, in particular transit to Europe amounted to 90.749 billion cubic meters, to Moldova some 2.708 billion cubic meters.
Ukrtransgaz, 100% owned by Naftogaz Ukrainy, operates a system of trunk gas pipelines and 12 underground gas storage facilities in the country.
Average retail prices for petrol and diesel fuel in Ukraine in the period from September 24 to October 2, 2018 grew by 2.3-3%, while prices of LPG climbed by 1.1%, according to data from the A-95 Consulting Group (Kyiv). As reported, average retail prices for petrol in Ukraine for 2017 increased by 19.2-20.1% (by UAH 4.61-4.76 per liter), for diesel fuel by 22.6% (by UAH 4.84 per liter). At the same time, average prices for liquefied petroleum gas (LPG), despite a sharp increase in August due to deficit, showed an increase of only 2.9% for the year (by UAH 0.36 per liter).
Changes in average retail fuel prices UAH per liter in Ukraine:
The total volume of the cigarette market in Ukraine in January-June 2018 narrowed by 11-12% year-over-year, JTI Ukraine General Manager Paul Holloway has said. “The Ukrainian market has decreased by 11-12% compared to 2017. If in 2016, price wars were observed in Ukraine, then in 2017 the industry left them, and now the situation in this sense is more or less stable. But there is a question of purchasing power of a Ukrainian consumer,” he said in an interview with Interfax-Ukraine.
Holloway said that now the Ukrainian consumer spends on average 21% of his daily income on cigarettes. “For comparison: this is more than in the U.K., where the consumer spends on them 15% of his income,” the general manager said.
According to JTI Ukraine estimates, the share of the premium segment in Ukraine is 13%, and more than 70% of the Ukrainian cigarette market is the low-price segment, which reflects the purchasing power of consumers.
“At the same time, Winston is the fastest-growing brand on the market. It does not belong to the low-price segment. Despite the fact that the low-price segment dominates on the market, there is still room for growth in the high-price segment. We do not expect the ratio of the low-price segment to other segments to change over the next two to three years,” Holloway said. According to him, now the company is actively discussing plans to bring brands to the Ukrainian market in the segment of electronic cigarettes and tobacco heating systems.
One troy ounce=31.10 grams
