MainEconomic

Decline in Ukraine's industrial output slows in July

The rate of decline of Ukraine's industrial production in July 2016 slowed to 0.2 per cent compared with July 2015, while it reduced to 3.4 per cent in June 2016 in comparison with June 2015, UNIAN has quoted the State Statistics Service of Ukraine as saying.

At the same time, Ukraine saw a 7 per cent increase in industrial production in July 2016 compared with June 2016.

Since the beginning of the year, industrial production has increased by 1.7 per cent. The highest production growth in July 2016 compared with the same month last year was recorded in the coal mining sector (by 13.5 per cent), the manufacture of computers, electronic and optical products (by 9.6 per cent), and the chemical industry (by 7.1 per cent). The highest growth compared with the previous month was recorded in the manufacture of computers, electronic and optical products (by 72.8 per cent), coal mining (by 44.5 per cent), and the manufacture of coke and refined petroleum products (by 14 per cent).

The steepest decline in production in July 2016 compared with the same month last year was recorded in the manufacture of motor vehicles, trailers and semi-trailers (by 19.3 per cent), the production of machines and equipment (by 9.8 per cent), and the manufacture of electrical equipment (by 9.1 per cent). The greatest decline in production compared with the previous month was seen in the manufacture of other machinery and equipment (by 4.3 per cent), pharmacy (by 2.7 per cent), and the manufacture of motor vehicles, trailers and semi-trailers (by 1.8 per cent).

The State Statistics Service said the data does not include reports from the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and occupied areas in Donbas in eastern Ukraine. As UNIAN reported earlier, the rate of decline of Ukraine's industrial production in June 2016 was 3.4 per cent in comparison with June 2015, while it slid by 2.1 per cent compared with May 2016.

Since the beginning of the year, from January to June, Ukraine saw industrial production grow by 2 per cent. In 2015, the decline in industrial production accelerated to 13.4 per cent from 10.7 per cent recorded a year earlier. Experts polled by UNIAN forecast that the growth of industrial production in Ukraine could reach 3 per cent in 2016.