Industrial production in Ukraine in June this year decreased by 0.3% against June last year and by 6.2% against May this year, the State Statistics Service (Gosstat) said in a statement.
According to its data, as a result, the growth of industrial production at the end of the first half of 2024 compared to the same period last year slowed to 8.1% from 9.9% at the end of five months.
It is pointed out that the decline in production in June was due to a drop in the supply of electricity, gas, steam and conditioned air, down 11.2%, while the processing industry recorded an increase of 0.6% and mining and quarrying 1.4%.
It is specified that the increase in production in June 2024 to June 2023 was recorded in metallurgy – by 34%, in mining and quarrying – by 1.4% due to growth in the extraction of metal ores – by 30.1%, in the production of coke and petroleum refining products – by 3.2%.
In general, for the first half of 2024 industrial production in Ukraine increased in the processing industry – by 11%, in mining and quarrying – by 9.3%, in the supply of electricity, gas, steam and conditioned air – by 1.5%.
The Stat Department points out that the volume of industrial products sold in January-June this year reached 1707.9 billion UAH, of which outside the country – 351.7 billion UAH.
The State Statistics Committee reminded that in May this year there was a growth of 3.6% compared to May last year, in April – by 11.6%%, in March – by 5%.
According to revised data of the State Statistics Committee, industrial production in Ukraine in 2023 increased by 6.8%, while in 2022 the decline amounted to 36.7%.
The harvest of corn, according to preliminary estimates of the Ministry of Agrarian Policy and Food, in 2024 will be 25 million tons, sunflower – 12 million tons, soybeans – 5 million tons, said Minister of Agrarian Policy and Food Vitaly Koval in an interview with Forbes Ukraina.
“Ukraine did not receive about 2% of early grains compared to last year’s harvest. This group did not suffer as much as late crops. Soybeans, buckwheat, corn and sunflower suffered the most. They have a shortfall of about 10-15% depending on the region. However, this is not critical for the food security of the country,” he said.
Koval expressed confidence that in the new season the structure of crops will not change globally compared to last year. At the same time, the Ministry of Agrarian Policy has concerns about winter rape: there is not enough moisture to sow it.
“In total, about 5 million hectares of winter crops will be sown,” summarized the Minister of Agrarian Policy.
The volume of completed construction works in Ukraine in January-June 2024 increased by 50.2% compared to the same period of 2023 – up to UAH 82.4 billion, according to the data of the State Statistics Service. In June-2024, the index of construction products exceeded the index of June-2023 by 13.8%, and the previous month – by 88.3%, notes the State Statistics Service.
According to the State Statistics Service, in January-June 2024 to the same period in 2023, the growth of construction was observed in all segments. Thus, in residential construction growth amounted to 27.9% (up to UAH 11.7 billion), in non-residential – 44% (up to UAH 20.9 billion), in engineering – 59.8% (up to UAH 49.6 billion). Construction output indices for the above categories in the first half of the year amounted to 116.8%, 131.6% and 146.1%, respectively.
According to the seasonally adjusted data of the department, the indices of construction products in June-2024 in residential construction amounted to 43.2%, in non-residential construction – 98.4%, in engineering – 124.1%, and taking into account the effect of calendar days, the indicators are 43.8%, 93.9% and 100%, respectively.
The share of new construction to the total volume of completed construction works in the first half of the year amounted to 43.7%, repair – 29.4%, reconstruction and technical re-equipment – 26.9%.
The State Statistics Committee notes that the publication of data was postponed due to martial law. Statdata indicators are given without taking into account the temporarily occupied territory and part of the territory where hostilities are (were) conducted.
Ukrainian Foreign Minister Andriy Sibiga met with his counterpart the Chinese Foreign Minister to discuss the development of bilateral relations and trade.
“Together with Andriy Yermak met with Chinese Foreign Minister Wang Yi. Thanked China for supporting the sovereignty and territorial integrity of Ukraine,” he wrote in social network X on Thursday night.
According to Sibiga, the sides focused on the next steps to develop bilateral relations and trade. They also discussed prospects for further contacts.
Sibiga said they briefed on Ukraine’s efforts to implement the Formula for Peace and exchanged views on the principles of achieving a comprehensive, just and lasting peace for Ukraine based on the UN Charter.
The European Bank for Reconstruction and Development (EBRD) is exploring the possibility of creating by the end of 2024 – early 2025 a system of war risk insurance for domestic transportation and goods transported in Ukraine, said Francis Malizh, EBRD managing director in the financial institutions sector.
“We are considering the possibility of war risk insurance for transport, domestic transport, which should come to the market at some point, probably by the end of the year or early next year,” Malizh said at the second annual forum ‘Ukrainian exports: the window opens’ organized by the Economic Pravda publication.
He specified that the new model of insurance against military risks may apply to trucks and railroad cars. Also, it will serve to insure goods in transit in the country.
Saab is looking to set up production in Ukraine to support the country’s development of independent defence capabilities, the Swedish defence equipment maker’s CEO told Reuters.
Russia’s full-scale invasion of Ukraine in February 2022 has prompted a surge in demand for military equipment, with several Western manufacturers looking to set up production in Ukraine.
“We have to help Ukraine build sovereign capacity and capabilities, so we need to have partnership with Ukrainian industry in Ukraine and also Ukrainian industry that has moved outside of Ukraine,” Saab CEO Micael Johansson said.
He added Saab was in talks with two or three companies on “how to establish local production”, but an agreement was yet to be finalised.
Saab, which competes with the likes of U.S. giant Lockheed Martin, France’s Dassault Aviation and Britain’s BAE Systems, is seeing a boom in demand spurred by global tensions, the war in Ukraine, and Sweden’s recent NATO accession.
Johansson said he saw potential for working with Ukrainian companies on drone capabilities. Ukraine could also be supplier of munitions parts and contribute to the development of sensor technology, he added.
Johansson said the arms industry was pivoting from donation-based aid to direct partnerships with Kyiv.
“I think we are sort of in a movement of going from having countries donating things to Ukraine, which will continue, of course, to having us as an industry delivering directly to the MoD (Ministry of Defence) and the defence forces in Ukraine, which has not happened completely yet, but it’s starting to happen,” he said.
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