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%.
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Industrial production in Ukraine decreased by 2.9%

Industrial production in Ukraine decreased by 2.9% in the first half of 2023, while last year the decline was 31.9%, the State Statistics Service (Ukrstat) reported.

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

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

The State Statistics Service clarifies that the data excludes the temporarily occupied territories of Crimea and Sevastopol, as well as part of the temporarily occupied territories in Donetsk and Luhansk regions.

In terms of sectors, the statistical agency recorded the largest decline in January-June this year – 11.4% – in the supply of electricity, gas and steam, while in the mining industry it was 9.2%.

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

Overall, production in the manufacturing industry also increased by 3.1% in the first half of the year.

This figure was driven by the production of motor vehicles (29.9%), machine building (12.9%), food processing (12.1%), furniture production, repair and installation of machinery (11.6%), production of rubber and plastic products (6.5%), and woodworking (4%).

The largest declines in the manufacturing industry were demonstrated by the production of coke and petroleum products (51.4%) and metallurgy (20.9%).

In nominal terms, in January-June 2023, Ukraine sold industrial products (goods and services) worth UAH 1549.66 billion, which is 6.5% more than in January-June 2022 (UAH 1455.125 billion), including UAH 282.363 billion abroad.

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

In the total sales of industrial products for the six months of 2023, the manufacturing industry accounted for the largest share (56.2%), electricity, gas, steam and air conditioning (31.3%), mining and quarrying (11.4%), and water supply, sewerage and waste (1.1%).

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

Industrial production in Germany fell by 1.5% in June

The volume of industrial production in Germany in June decreased by 1.5% compared to the previous month, reported the Federal Statistical Office of the country (Destatis).

Experts surveyed by Trading Economics expected a decline of 0.5%.

In May, industrial production in Germany decreased by 0.1%.

The production of capital goods in June fell by 3.9%, consumer goods – increased by 1.8%, intermediate goods – increased by 0.4%.

Construction output fell 2.8% and electricity generation rose 0.6%.

German industrial production in June was 1.7% below the same month in 2022.

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British industrial production declines

The volume of industrial production in the UK in May decreased by 0.6% compared to the previous month, according to the British National Statistics Office (ONS).

The indicator declined for the second month in a row and showed the worst dynamics since August last year.

Analysts polled by Trading Economics expected a decline of 0.4%.

In annualized terms, industrial production fell by 2.3%, matching the forecast, after declining by a revised 1.6% a month earlier.

The country’s manufacturing output in May fell 0.2% from April, electricity and gas production fell 2%, while the mining sector rose 0.3%.

For more information on key macroeconomic indicators in Ukraine and the world, see the link on the YouTube channel Club of Experts at the link:

 

Industrial production in Ukraine fell by 36.9% in 2022

Industrial production in Ukraine in 2022 fell by 36.9%, while in 2021 there was an increase of 1.9%, the State Statistics Service (Gosstat) said on Monday. The agency specified that industrial production in Ukraine decreased by 44.1% in December 2022 against December 2021, while in November the decline was 41.9% and in October – 41.6%.

Last year March was the worst month for the dynamics of industrial production, when after the Russian full-scale invasion it dropped by 53.7%, although in January the growth of 2.9% was recorded, and in February it was 10.1%.

In April the rate of decline decreased to 46.6%, and in May-June – to 40.9%-40.8%, respectively.

In the third quarter, before Russian shelling caused problems with energy supplies, this trend continued: after industrial production fell by 42.3% in July, in August and September it was 39.4% and 39.8%, respectively.

The State Statistics Service specifies that the data does not include the temporarily occupied territory of Crimea and Sevastopol, as well as part of the temporarily occupied territories in Donetsk and Luhansk regions.

By sectors, the statistics agency recorded the largest decline – 41.2% – in the processing industry, while in the extractive industry it was 30.1%, in the supply of electricity, gas and steam – 30.7%.

At the same time, in the extractive industry such indicator provided coal mining (down 7.7%) and gas and oil (down 8.4%), while in the mining of metal ores decline was 61.7% and other minerals and quarrying – 75.1%.

INDUSTRIAL PRODUCTION IN UKRAINE IN OCTOBER GROWS BY 1.4%

After a 0.7% decline in September in October 2021, industrial production in Ukraine returned to growth and grew by 1.4% compared to October 2020, the State Statistics Service reported on Tuesday.The authority said that, adjusted for the effect of calendar days, industrial production in October 2021 compared to October 2020 rose even more – by 2.2% versus a decline of 0.9% a month earlier.According to statistics, the increase in production was recorded in all sectors: in the extractive industry – by 0.6%, in the processing industry – by 0.4%, but the largest contribution came from the supply of electricity, gas, steam and conditioned air – 7.6%.The State Statistics Service said that compared with September this year, industrial production in the country increased 7.8%, and taking into account the seasonal adjustment it grew by 1.9%.Thanks to such indicators, in January-October of this year, the growth of industrial year-over-year remained at the level of 1.4%, including1.1% in the extractive industry, 1.5% in processing, and 1.7% in the supply of electricity, gas, steam and conditioned air.

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