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Ukraine's GDP growth hits 7-year high in 2018

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Staff Writer | March 23, 2019
Ukraine
Europe   In the fourth quarter of 2018, Ukraine's GDP grew 3.5 percent

Ukraine's gross domestic product (GDP) growth hit a seven-year high of 3.3 percent in 2018, official data showed on Friday.

The Ukrainian Economic Development and Trade Ministry said on Facebook that the growth was driven by the high domestic demand and strong investment.

In the same time, the ministry pointed out that the pace of the economic growth last year was overshadowed by the tensions with Russia.

In the fourth quarter of 2018, Ukraine's GDP grew 3.5 percent year-on-year instead of 3.4 percent estimated earlier due to the strong performance in the construction sector and industry, the ministry said.

The Ukrainian economy sank into recession in the first quarter of 2014 and suffered a consolidated decline of 16.5 percent in 2014-2015.

Ukraine's GDP rose by 2.5 percent in 2017, after growing 2.3 percent in 2016. The government has estimated that the economy will rise 3 percent this year.


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