Business news from Ukraine

Industrial production in Ukraine decreased by 2.9% in first half of 2023

24 September , 2023  

Industrial production in Ukraine in the first half of 2023 decreased by 2.9%, while last year during this period the decline amounted to 31.9%, the State Statistics Service (Gosstat) has reported.

The agency specified that since March this year has been recorded growth in industrial production: after a jump of 51.2% in March, the recovery slowed to 18.2% in April, 17.9% in May and 13.7% in June.

At the same time, a 40% and 34.4% drop to pre-war January and February 2022, respectively, caused a generally negative result for the half-year.

State Statistics Service specifies that the data are given without taking into account the temporarily occupied territory of Crimea and Sevastopol, as well as part of the temporarily occupied territories in Donetsk and Luhansk regions.

By sector, the statistical office recorded the largest decline – 11.4% – in the supply of electricity, gas and steam in January-June this year, while in the extractive industry it amounted to 9.2%.

Metal ore mining fell the most – by 28.7%, while oil and gas – by only 2.7%, and in coal mining even recorded a slight increase of 0.8%.

In general, the production in the processing industry increased by 3.1% in the first half of the year.

This indicator was provided by the production of motor vehicles – 29.9%, machine building – 12.9%, food industry — 12.1%, production of furniture, repair and installation of machinery – 11.6%, production of rubber and plastic products – 6.5% and woodworking industry – 4%.

The biggest decline in the processing industry was shown by the production of coke and refined petroleum products – 51.4% and metallurgy – 20.9%.

In nominal terms, Ukraine in January-June 2023 realized industrial products (goods, services) worth 1549.66 billion UAH, which is 6.5% more than in January-June 2022 (1455.125 billion UAH), including outside the country – in the amount of 282.363 billion UAH.

According to its data, in June-2023 compared to June-2022, the turnover of realized mining and processing industry increased by 35%.

In the total sales of industrial products for the first six months of 2023, the largest specific weight came from the processing industry (56.2%), supply of electricity, gas, steam and conditioned air (31.3%), mining and quarrying (11.4%), and another 1.1% was water supply, sewerage and waste.

As reported, industrial production in Ukraine in 2022 fell by 36.9%, while in 2021 there was an increase of 1.9%.
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