Improved estimate of Ukraine’s GDP growth by the State statistics service

The real gross domestic product (GDP) of Ukraine in the third quarter of 2021 increased by 2.7% compared to the same period in 2020, the State Statistics Service reported such an updated estimate, while earlier it estimated growth in mid-November at 2.4%. According to its data, nominal GDP amounted to UAH 1.498 trillion, and per capita – UAH 36,150.

The State Statistics Service added that compared with the previous quarter (taking into account the seasonal factor), GDP grew by 1.5%, which is slightly better than the preliminary estimate of 1.4%.

The statistics department clarified that the change in the deflator was 25.5%, compared with 26.4% in the second quarter and 20.7% in the first quarter of this year.

In September, the State Statistics Service also improved its estimate of the growth of the Ukrainian economy in the second quarter of this year – from 5.4% to 5.7% and set the nominal GDP at UAH 1.169 trillion.

Whereas in June, the department, on the contrary, worsened the estimate of recession of the Ukrainian economy in the first quarter of this year – from 2% to 2.2%, calculating the nominal GDP at the level of UAH 1.009 trillion.

According to the department, in the first quarter of 2020 the decline was 1.2% compared to the first quarter of 2019, in the second quarter of last year it accelerated to 11.2%, after which it slowed down to 3.5% in the third quarter and 0.5% – in the fourth.

Nominal GDP in the first quarter of last year was UAH 853.69 billion (deflator change – 5.3%), in the second – UAH 874.62 billion (5.6%), in the third – UAH 1.162 trillion (8.4%), in the fourth – UAH 1.301 trillion (17.5%).

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