Ukraine's real gross domestic product (GDP) in the second quarter of 2014 shrank by 4.7 percent compared with the same period in 2013, while the decline in the first quarter was 1.1 percent, the State Statistics Service reported on Wednesday, July 29.
The service said that GDP, given the seasonal factor, shrank by 2.3 percent
in the second quarter of 2014 compared with the first quarter of 2014.
Ukraine’s GDP in the fourth quarter of 2013 grew by 3.7 percent, prior to
that it had been falling for five quarters in a row: if in the third and
fourth quarters of 2012 the decline was 1.3 percent and 2.5 percent respectively, in
2013 it accelerated from 1.1 percent in the first quarter to 1.3 percent in the second
and third quarters.
In general, in 2013 the GDP growth was zero in Ukraine, and in 2012 it slowed to 0.2 percent from 5.2 percent a year earlier.
The government of Ukraine is expecting the country’s economy in 2014 to fall by 6-6.5 percent.
