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Ukraine’s GDP grew by 2.9% in Jan-Aug 2021 – Economy Ministry

Ukraine’s gross domestic product (GDP) grew by 2.9% in January-August 2021, according to data provided by the Ministry of Economy.

In particular, Ukraine’s GDP grew by 2.9% in January-August 2021, compared with a 2.1% growth in the first seven months of 2021 and a 5.7% decline in the first eight months of 2020.

The main contribution to such a positive dynamics was made by the industry (both due to favorable conditions in foreign commodity markets and continued recovery of demand from key consumers), and agricultural sector (yield growth and increased harvested areas compared to the past year).

The construction industry also made a positive contribution to the economy development through the launch of a government’s program of mortgage loans and active state financing of social and infrastructure facilities within the Great Construction project. The ministry also noted the transport sector growth.

As Ukrinform reported, Ukraine’s GDP rose by 5.4% in the second quarter of 2021 compared to the same period last year.

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