Business news from Ukraine

VOLUME OF CONSTRUCTION PRODUCTS PRODUCED BY TYPE IN JAN-JUNE OF 2020 (MLN UAH)

Volume of construction products produced by type in Jan-June of 2020 (Mln UAH)

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VOLUME OF PRIVATE REMITTANCES TO UKRAINE 8.5% DOWN IN JUNE

The volume of remittances of labor migrants to Ukraine in June 2020 amounted to $856 million, which is 8.5% less than in June 2019, and 13.9% less than in the pre-quarantine February 2020, according to data on the website of the National Bank of Ukraine (NBU).
According to the report, in the first half of 2020, the volume of private money transfers to the country decreased by 3.8%, to $5.36 billion against the same period last year ($5.58 billion).
According to the NBU, in general, in the first six months of 2020, some $2.16 billion (40.2% of the total number of transfers) was transferred to Ukraine through correspondent accounts of banks, $2.02 billion (37.6%) through informal channels and $1.19 billion (22.1%) through international payment systems.
As reported, the volume of remittances of labor migrants to Ukraine in January amounted to $991 million, in February $994 million, in March $925 million, in April $794 million and in May $805 million.
In general, in 2019, labor migrants transferred $12 billion to Ukraine, according to data from the central bank.

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MAIN TRADE PARTNERS OF UKRAINE IN % FROM TOTAL VOLUME (IMPORT FROM OTHER COUNTRIES TO UKRAINE) IN 1-ST QUARTER OF 2020

Main trade partners of Ukraine in % from total volume (import from other countries to Ukraine) in 1-st quarter of 2020

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VOLUME OF CONSTRUCTION PRODUCTS PRODUCED BY TYPE IN JAN-APR OF 2020 (MLN UAH)

Volume of construction products produced by type in Jan-Apr of 2020 (Mln Uah)

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VOLUME OF CONSTRUCTION WORK IN UKRAINE DOWN IN APR

The volume of construction work in Ukraine in April 2020 decreased by 16.1% compared to April 2019, while in March 2020 it decreased by 12.8% compared to March 2019. The State Statistics Service said that the volume of construction work amounted to UAH 36.2 billion from the beginning of 2020. In general, this indicator decreased by 8.7% in January-April 2020, compared to the same period in 2019.
According to the service, the indicator decreased by 4.1% in April compared to March (according to seasonally adjusted data, it decreased by 2.8%), while in March this figure fell by 1.8% compared to February.
The State Statistics Service said that in April 2020 from April 2019, the volume of work decreased in all sectors of construction. Thus, according to unadjusted data, the decrease in volumes of residential construction amounted to 28.9%, in nonresidential construction was12.1%, in building the engineering structures amounted to 12.6%.
The share of new construction of the total volume of finished construction works amounted to 45.3%, repairs to 27.1%, reconstruction and technical re-equipment to 27.6%.
In January-April 2020, compared with the same period in 2019, an increase in the volume of construction work was recorded in Chernihiv (by 38.3%, to UAH 499.6 million), Rivne (by 7.9%, to UAH 521 million), Lviv (by 5.1%, to UAH 2.63 billion), Kyiv (by 4.8%, to UAH 2.23 billion), Ternopil (by 3.5%, to UAH 519.5 million) and Mykolaiv (by 0.3%, to UAH 766.1 million) regions. In the remaining 18 regions and Kyiv city, a decrease in the volume of construction work was recorded, in particular, in Kirovohrad by 44.9%, to UAH 298.6 million, Vinnytsia by 33.3%, to UAH 1.28 billion, and Zhytomyr by 20.6%, to UAH 399.5 million. In Kyiv city, the volume of construction work done during this period decreased by 8.7% and amounted to UAH 8.91 billion.
The data are given excluding the occupied territory of Crimea and the temporarily occupied territories in Donetsk and Luhansk regions.

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VOLUME OF REINSURANCE BY UKRAINIAN INSURERS IN AUSTRIA IN 2019 GREW 2.5-FOLD

The volume of reinsurance by Ukrainian insurers in Austria in 2019 grew 2.5-fold, to UAH 639 million, being 19.4% of the total reinsurance volume abroad (8.5% in 2018), according to a posting on the website of the National Commission for Financial Service Markets Regulation of Ukraine.
The share of reinsurance in Germany increased from 18.6% in 2018 to 22.3% in 2019 (to UAH 535 million), the U.K. it decreased from 23.7% to 17.3%, to UAH 569.9 million, Poland it decreased from 12.4% to 10% (UAH 331.3 million), in Switzerland decreased from 10.6% to 7% (UAH 229.8 million), in France increased to 6% from 5% (UAH 196.8 million), in the United States decreased from 4.2% to 3.6% (UAH 119.6 million).
According to the regulator, outbound reinsurance operations for the reporting period decreased 6.8%, to UAH 16.713 billion. In addition, reinsurance with nonresident reinsurers increased 10%, to UAH 3.298 billion.
Payments compensated by resident reinsurers amounted to UAH 297.8 million, which is 30.9% less than in 2018, for nonresident reinsurers it was UAH 2.21 billion, or 9% more than in 2018.
In relation to gross insurance premiums, the share of outbound reinsurance as at December 31, 2019 was 31.5%, which is 4.8 percentage points less than on the same date a year earlier.

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