Growth of Industrial Production in Ukraine

by Meifan Honcharuk
Friday, November 26, 2021
Growth of Industrial Production  in Ukraine

Industrial production in Ukraine in October increased by 1.4%

The State Statistics Service reported that after a 0.7% decline in September in October 2021, industrial production in Ukraine returned to growth and increased by 1.4% compared to October 2020.

Favorable conditions on foreign markets continue to influence the growth of industrial production in specific industries. The State statistics service clarified that adjusted for the effect of calendar days, industrial output in October-2021 to October-2020 increased by 2.2% against a decrease of 0.9% in a month previously.

According to him, the increase in production was recorded in all sectors: 

  • The processing industry — by 0.4%; 
  • The extractive industry — by 0.6%;
  • The supply of electricity, gas, steam and conditioned air brought the most significant contribution — 7.6%.

The State statistics service also indicates that compared with September this year, industrial production in the country increased by 7.8%, taking into account the seasonal adjustment — by 1.9%.

Thanks to such achievements, in general, for 10 months of this year, the growth of industrial production, concerning the same indicator of last year, remained at the level of 1.4%, including in the extractive industry — 1.1%, processing — 1.5%, supply of electricity, gas, steam and conditioned air — 1.7%.

We also see growth in investment-oriented activities, which indicates the implementation of investment projects by enterprises. According to the State statistics service, the production of investment goods increased by 2.5%, which formed the most significant contribution to the industrial production index.

In particular, the production of furniture, other products, repair and installation of machinery and equipment increased by 5.5%, rubber and plastic products, other non-metallic products — by 0.8%, mechanical engineering — by 0.7%.

You will be interested