Ukraine's GDP up by 3.6% in January-February, economy minister says

Ukraine's gross domestic product rose 3.6% in the first two months of this year, and growth is expected to continue in the first quarter, the economy minister Yulia Svyrydenko said on Sunday. Ukraine's economy was devastated by Russia's invasion in February 2022 as millions fled the war, cities and infrastructure were bombed, and logistics, supply chains and exports disrupted.

Ukraine's gross domestic product rose 3.6% in the first two months of this year, and growth is expected to continue in the first quarter, the economy minister Yulia Svyrydenko said on Sunday. "This was driven by several factors, including investment demand, favourable weather conditions for construction works, agricultural exports, (and) the operation of the Ukrainian sea corridor," Svyrydenko said on Facebook, citing preliminary data.

She said the expansion of production capacity in the mining industry and stability in the energy sector were additional factors. "Thanks to the positive performance of key sectors of the economy, we expect sustainable growth for the entire first quarter," she added.

Ukraine's GDP rose 3.5% in January, having grown by 5% in 2023 after a 28.8% fall in the previous year. Ukraine's economy was devastated by Russia's invasion in February 2022 as millions fled the war, cities and infrastructure were bombed, and logistics, supply chains and exports disrupted.

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