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Ukraine's GDP falls by 0.2% in one year

Source : 112 Ukraine

The economic downturn was recorded for the first time in four years
20:33, 20 March 2020

censor.net.ua

The real gross domestic product (GDP) of Ukraine in 2019, compared to 2018, fell by 0.2% and reached 3.2%. In 2018, the GDP was 3.4%. This was reported by the State Statistics Service.

The largest growth was recorded in construction (+23%), which accounted for 2.7% of GDP, while wholesale and retail trade that is the largest share of GDP among industries (13.2%), increased by 3.6%.

Growth above 5% was shown by scientific activities (+5.6%), public administration, defense and social insurance (+5.9%), administrative services (+6.5%), hotels and restaurants (+7.1%). , telecommunications (+7.5%), and real estate (+7.5%).

Related: Policy action for a healthy global economy

The drop was recorded in education (-1.3%), mining and quarrying (-1.5%), electricity, gas, steam and air conditioning supply (-4.2%).

As we reported earlier, the economic and labour crisis caused by the Covid-19 pandemic may increase global unemployment in the amount of 25 million workplaces. Such a prognosis was provided by the International Labour Organization (ILO).

The ILO noted that unemployment in the world may be lower in case of a coordinated political response at the international level.

Related: Global economy could lose up to $ 2.7 trillion due to spread of coronavirus, - Bloomberg

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