You're reading: Statistics Service improves estimate of Ukraine’s GDP growth to 5.7%

The real gross domestic product (GDP) of Ukraine in the second quarter of 2021 increased by 5.7% compared to the same period in 2020, the State Statistics Service reported, while previously it estimated its growth in mid-August at 5.4%.

According to its data, nominal GDP amounted to Hr 1.169 trillion, and the figure per capita – Hr 28,190.

The State Statistics Service added that compared to the previous quarter (taking into account the seasonal factor), GDP fell by 0.7%, which is slightly better than the preliminary estimate of a decline of 0.8%.

The service clarified that the change in the deflator was 26.4%, compared with 20.7% in the first quarter of this year.

In June, the service, on the contrary, downgraded the estimate of the decline in the Ukrainian economy in the first quarter of this year – from 2% to 2.2% and set the nominal GDP at Hr 1.009 trillion 8.

According to the department, in the first quarter of 2020, the decline was 1.2% compared to the first quarter of 2019, in the second quarter of last year it accelerated to 11.2%, after which it slowed down to 3.5% in the third quarter and 0. 5% – in the fourth.

Nominal GDP in the first quarter of last year was Hr 853.69 billion (deflator change – 5.3%), in the second – Hr 874.62 billion (5.6%), in the third – Hr 1.162 trillion (8.4%), in the fourth – Hr 1.301 trillion (17.5%).

The government in 2021 predicts the growth of the Ukrainian economy by 4.1%, the National Bank – 3.8%.