Business news from Ukraine

Business news from Ukraine

UKRAINE RECORDS 10% INFLATION IN AUG

The growth of consumer prices in Ukraine in annual terms in August 2021 remained at the level of 10.2%, the State Statistics Service reported.
According to its data, after inflation of 0.1% in July, deflation of 0.2% was recorded in August this year, which corresponds to the dynamics of prices in August last year.
Underlying inflation in August was zero after deflation of 0.1% a month earlier. In August last year, an underlying inflation of 0.1% was recorded, respectively, in annual terms, it decreased to 7.2%.
In the consumer market in August, prices for food and non-alcoholic beverages decreased by 0.7%. Vegetables and fruits fell in price the most – by 18.3% and 5%, respectively. Prices for sunflower oil, pasta, rice and cheese fell by 1.0-0.2%. At the same time, prices for eggs increased by 18%, prices for sugar, meat and meat products, milk, sour cream, bread, butter, fermented milk products, fish and fish products rose by 3.6-0.3%.
Prices for alcoholic beverages and tobacco products increased by 0.4%, which is associated with a rise in prices for tobacco products by 1.0%.
Prices for clothes and footwear fell by 3%, in particular for footwear – by 3.7%, clothing – by 2.5%.
The rise in tariffs for housing, water, electricity, gas and other fuels by 0.6% was mainly due to an increase in prices for maintenance and repair of housing by 2.3%, natural gas – by 2.1%, sewage – by 0.9%, water supply – by 0.7%.
Transport prices increased by 0.8%, primarily due to the rise in the cost of transport services by 1.9%, fuel and oils – by 1.6%.
As reported, in June consumer prices in Ukraine increased by 0.2%, in May – by 1.3%.
In general, for the first eight months of this year, inflation in Ukraine amounted to 6.2%, underlying inflation – 4.2%.
The National Bank of Ukraine in July downgraded the inflation forecast for 2021 from 8% (in the April forecast) to 9.6%. According to it, by the end of the third quarter, inflation will peak this year at 11.2%, after which it will begin to decline.

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UKRAINE’S GDP GROWS BY 5.4% IN Q2

Ukraine’s real gross domestic product (GDP) in the second quarter of 2021 grew by 5.4% compared to the second quarter of 2020, while falling by 2.2% in the first quarter of this year, the State Statistics Service published a preliminary estimate in Monday.
According to the authority, in comparison with the previous quarter (taking into account the seasonal factor), the GDP decreased 0.8%.

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VOLUME OF CONSTRUCTION WORK IN UKRAINE DOWN BY 12.3% IN Q1

The volume of construction work performed in Ukraine in January-March 2021 decreased by 12.8% compared to the same period in 2020.
According to the State Statistics Service, in January-March, the volume of construction work performed amounted to UAH 26.3 billion.
In March 2021 the seasonally adjusted index of construction products amounted to 99.7% compared to the previous month, the one adjusted for the effect of calendar days compared to March 2020 was 90.4%.
The service reported that in March 2021 from March 2020, an increase in the volume of construction work was observed in the segment of residential construction – by 8.6%, engineering structures – by 9.7%. At the same time, in non-residential construction, the decline in the volume of construction work amounted to 4.2%.
The share of new construction in the total volume of completed construction work amounted to 44.5%, repairs – 27.9%, reconstruction and technical re-equipment – 27.6%.
An increase in the volume of construction work in January-March 2021 compared to January-March 2020 was recorded in Khmelnytsky (by 40.8%), Rivne (by 29.2%), Ternopil (by 9.2%) and Kharkiv (by 4.7%) regions.
In other regions, there was a decrease in construction volumes. The most significant drop was shown by Chernivtsi (by 59.4%) and Vinnytsia (by 56%) regions.
The statistics are given without taking into account the temporarily occupied Crimea and the temporarily occupied territories in Donetsk and Luhansk regions.
As reported, the volume of construction work performed in Ukraine in 2020 increased by 4% compared to 2019.

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UKRAINIAN TRANSPORT COMPANIES INCREASE PASSENGER TRAFFIC IN JAN-MAY

Ukrainian transport companies carried 1.026 billion passengers in January-May 2021, which is 1.4% more than in January-May 2020, the State Statistics Service has reported.
The passenger turnover of transport enterprises in the specified period amounted to 21.5 billion passenger-kilometers, which is 7% more than in January-May last year.
According to the State Statistics Service, 29.9 million passengers used railway transport in January-May 2021 (including city commuter trains), which is 6.8% more than in the same period in 2020, and 426.9 million passengers used road transport (1.5% more).
Air transport reduced passenger traffic by 20%, to 2.4 million people.
In addition, according to the State Statistics Service, in January-May 2021, some 155.4 million passengers used trams (9% less versus January-May 2020), subway carried 174.4 million people (21.1% more), trolleybuses some 236.9 million people (4% less).
During the specified period, water transport carried 0.1 million passengers.

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INDUSTRIAL PRODUCTION IN UKRAINE IN MAY INCREASES BY 5.4%

Industrial production in Ukraine in May 2021 increased by 5.4% compared to May 2020, while in April the growth was 13%, in March – 2.1%, and in February and January there was a decline, respectively by 4.6% and 4%, the State Statistics Service has said.
The agency clarified that, adjusted for the effect of calendar days, the growth of industrial production in the past month was the same – 5.4%.
The State Statistics Service indicates that from April this year, industrial production fell by 3.4%, and taking into account the seasonal adjustment – by 3%.
In processing industry in May 2021 from May 2020 the growth was 6.3%, in extracting industry and quarrying – 8%, while the supply of electricity, gas, steam and air conditioning recorded a decline of 3.5%.
In general, for the five months, the service recorded an acceleration in the growth of industrial production to 2.2% from 1.56% following the results of four months. In particular, the growth in processing industry was 2.5%, in the supply of electricity, gas, steam and conditioned air – by 2.9%, in mining industry and quarrying – by 1.2%.

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RETAIL TURNOVER IN UKRAINE ACCELERATES TO 13% IN MARCH

Retail goods turnover in Ukraine in March 2021 year-over-year grew by 13.1% year-over-year in comparable prices, the State Statistics Service has reported.
In the first quarter of 2021, retail trade turnover grew by 7.5% compared to the first quarter of 2020, while in March 2021 compared to the previous month, its growth was 11.8%.
The largest increase in the retail turnover of enterprises (legal entities and private entrepreneurs) in January-March 2021 year-over-year was recorded in Kyiv (by 14.6%), Chernivtsi (by 13.7%), Vinnytsia (by 12.5%), Ternopil (by 11.8%), Chernihiv (by 10.5%), Khmelnytsky (by 10%), Poltava and Zakarpattia (by 9, 9%), Zaporizhia (9.8%), Dnipropetrovsk (9.1%), Odesa (8.9%), Lviv (7.8%) regions and Kyiv city (6.8%).
The authority said that the data are given without taking into account the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and the Joint Forces Operations area.

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