Ukraine’s Q3 GDP 30% lower compared to 2021, with signs of recovery
Ukraine's economy fell by more than 30% in the third quarter (Photo:NBU Press Center)
Ukraine’s Q3 GDP fell by 30.8% year-over-year, but grew by 9% compared to the previous quarter, State Statistics Service of Ukraine reported on its Facebook page on Dec. 9.
According to the report, GDP increased by 9% in real terms in Q3, while Q2 marked the largest decline of Ukraine’s economy since Russia’s full-scale invasion.
Annualized Ukrainian GDP fell by 30.8% in the first three quarters.
Ukrainian Economy Ministry earlier said it estimates the country’s economy contracted by 41% in November, due to persistent Russian attacks on Ukraine’s energy infrastructure.
On Dec. 8, the National Bank of Ukraine (NBU) said that severe power grid disruptions will cause Ukraine’s economy to contract more than previously expected.
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