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Ukraine records first industrial growth since 2011

It has been steadily decreasing in the recent years.

Ukraine records first industrial growth since 2011
Photo: al-sp.ru

Industrial production in 2016 increased by 2.4 per cent compared with 2015, the State Statistics Service said in its express review on 23 January.

The growth in extraction reached 2.3 per cent, processing, 3.5 per cent, in supply and distribution of gas and energy, 2.6 per cent.

Manufacturing as well as construction, retail and agriculture are among the basic sectors critical to the country's GDP. Over the past year, retail has grown by 4 per cent, agriculture by 6.1 per cent and completed construction by 13.1 per cent.

Overall, Ukraine's GDP in 2016 grew by 1.8 per cent, Deputy Finance Minister Oksana Markarova said on 23 January.

Last year, industrial production in Ukraine has been steadily decreasing in the recent years. In 2012, it fell by 0.7 per cent, in 2013 by 4.3 per cent, in 2014 by 10.1 per cent, and in 2015 by 13 per cent. The situation changed in February 2016 when industrial production in Ukraine demonstrated growth for the first time since July 2012.

The January-December growth was last registered in 2011.