Fall of GDP in Ukraine accelerates to 31.4% in Q4 2022 – statistics

Real gross domestic product (GDP) of Ukraine in the fourth quarter of 2022 fell by 31.4% compared to the fourth quarter of 2021 after falling by 30.8% in the third quarter, 37.2% in the second and 15.1% in the first, such an assessment was published by the State Statistics Service on Monday.

According to the published data, compared to the previous quarter (seasonally adjusted), GDP in the fourth quarter of last year decreased by 4.7%.

The State Statistics Service does not provide a preliminary indicator of GDP dynamics in general for 2022.

According to the agency, in 2021 Ukraine's GDP grew by 3.4% after a decline of 3.8% in 2020, its nominal volume amounted to UAH 5.451 trillion, or about $200 billion.

The Ministry of Economy in early January estimated the fall in real GDP of Ukraine over 2022 at the level of 30.4% [±2%], while assessing the fall in the fourth quarter at 35.5% [±2%].

At the end of January, the NBU also estimated the decline in GDP in 2022 at 30.3%, including 35% in the fourth quarter.

As reported, the National Bank predicts GDP growth in 2023 by 0.3% with inflation of 18.7%, and the Ministry of Economy – 1% with inflation of 24%.

Source: www.en.interfax.com.ua