Ukraine GDP fell 15.1% Q1 yr/yr - official

Ukraine's economy, beset by war against Russia, contracted by 15.1% year-on-year in the first quarter of this year, the State Statistics Service said in an initial assessment issued on Thursday. That figure for gross domestic product (GDP) compared with year-on-year growth of 6.1% in the last quarter of 2021, the service said.

Ukraine's economy, beset by war against Russia, contracted by 15.1% year-on-year in the first quarter of this year, the State Statistics Service said in an initial assessment issued on Thursday. That figure for gross domestic product (GDP) compared with year-on-year growth of 6.1% in the last quarter of 2021, the service said. The first quarter figure showed a plunge of 19.3% compared with the final quarter of 2021, taking account of seasonal factors.

The service's data showed GDP rose 3.4% year-on-year throughout 2021 - compared with a decline of 3.8% the previous year. The World Bank has forecast a fall of 45.1% for 2022, compared with 44% forecast by the Kyiv government. Russian troops invaded on Feb. 24, some eight weeks into the quarter.