Business news from Ukraine

Business news from Ukraine

Industrial production in Ukraine decreased by 2.9% in first half of 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%.
Earlier, the research project Experts Club and Maxim Urakin released an analytical video about the economy of Ukraine and the world – the experts club and Maxim Urakin.

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Ukraine’s retail trade turnover grew by 7.3% in January-June

Ukraine’s retail turnover in January-June 2023 in comparative prices increased by 7.3% against the same period of 2022, the State Statistics Service (Gosstat) said.

According to the statistical Department, in June this year recorded an increase in retail turnover to June last year by 23.3%, which is slightly less than the indicator in May, when it was 24.3%.

Gosstat specifies that the turnover of retail trade enterprises (legal entities) in the first half of 2023 increased in comparative prices in relation to the first half of 2022 by 4.9%.

Including in June 2023, the growth amounted to 19.1% compared to 20.7% in May.

According to the State Statistics Committee, in nominal terms, the turnover of retail trade in Ukraine in January-June 2023 amounted to UAH 820.9 billion, and retail trade enterprises – UAH 553.6 billion.

Gosstat reminds that the data are given without taking into account the territories temporarily occupied by Russia and part of the territories where hostilities are (were) conducted

As reported, in 2022, retail turnover in Ukraine fell by 21.4%.

German chancellor speaks out in favor of strengthening control over illegal migration

German Chancellor Olaf Scholz spoke in favor of strengthening control over illegal migration and promised possible additional measures, the German edition of Welt reported on Saturday, September 23.

Many people are coming to Europe and Germany and their numbers have “increased dramatically,” Scholz said at a Social Democratic Party rally in Nuremberg, Welt reported.

In connection with the situation at the borders, Scholz called for clarification of possible irregularities in the issuance of visas in neighboring Poland. “I don’t want Poland to just wave us off and then discuss our asylum policy,” the FRG chancellor emphasized.

According to him, whoever comes to Poland should register there and go through the asylum procedure, “not get visas that were somehow handed out for money.” He suggested discussing the issue with the Polish government.

At the same time, Scholz added, depending on the current situation, “additional measures may have to be taken at the borders.”

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Financing state budget deficit, bln UAH

Financing state budget deficit, bln UAH

Source: Open4Business.com.ua and experts.news

Xi Jinping may visit South Korea

Chinese President Xi Jinping will seriously consider a visit to South Korea, he said before the opening of the Asian Games on Saturday, Yonhap reported, citing a senior official.

“This means that President Xi knows it is his turn to visit South Korea,” the official said on condition of anonymity, adding that Xi’s visit has been “long delayed.”

Xi Jinping last visited South Korea in 2014. President Yun Seok-yol extended an invitation to Xi Jinping during a meeting on the sidelines of the G-20 summit in Bali, Indonesia, in November 2022.

It is planned that the visit could take place as part of efforts to bring peace to the Korean Peninsula.

According to Yonhap, citing a South Korean senior official, Xi Jinping also said that China appreciates Seoul’s efforts to resume the long-suspended annual trilateral summit between South Korea, China and Japan and that Beijing welcomes the trilateral summit at an appropriate time.

It is noted that the trilateral summit was last held in 2019.

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Structure of approved ukrainian state budget expenditures in 2023

Structure of approved ukrainian state budget expenditures in 2023

Source: Open4Business.com.ua and experts.news