Decline in industrial production in Ukraine accelerates further to 5.6% y/y in September.

By bne IntelliNews October 17, 2013

In September, industrial production declined by 5.6% y/y compared to contraction of 5.4% y/y in August and 4.9% y/y in July, the State Statistics Service has announced. In m/m terms, industrial production weakened by 0.4% improving from decline of 2.5% m/m seen in August. In Jan-Sep, industrial production shrank by 5.2% y/y.

In particular, mining and quarrying in September decreased by 1.4% m/m, and grew by 1.4% y/y. The volume of the processing industry in August increased by 0.5% m/m and contracted by 10.3% y/y. Manufacture of food products, beverages and tobacco rose by 6.1% m/m (down by 12.8% y/y), the volume of light industry increased during the month by 5.9% (down by 4.7% y/y). Manufacture of coke, refined petroleum products in September fell by 5.8% m/m (down by 2.9% y/y).

Manufacture of chemicals and chemical products declined during the month by 10.3% (down by 19.7% y/y), rubber and plastic products went down by 5.5% m/m (down by 7.8% y/y). The volume of steel production in September decreased by 2.6% m/m (for the year – 5.2%), machinery for the month rose by 2.1% (for the year - a decline of 16.2%).

Industrial output reduced by 1.8% in 2012, compared with 2011.

The government forecasts industrial production to grow by 8-9% over 2013-2014. The increase in production of chemical and petrochemical industry will be mainly achieved by an increase in the production of mineral fertilizers (nitrogen, phosphorus), taking into account the favorable conditions in foreign markets and prices, as well as organic chemistry products (production of organic acids, amino acids, biopolymers ).

Related Articles

Southeast Europe targeted by $250bn environmental crime industry

The ancient forests and animal life of the Danube-Carpathian region of Central and Eastern Europe are increasingly victims of wildlife crime and illegal logging, says a new report from the United ... more

Agreements with Armenia highlight of uneventful EU Eastern Partnership summit

The EU and Armenia signed a comprehensive and advanced partnership agreement and a common aviation area agreement at the Eastern Partnership summit on November 24, according to an ... more

EU calls for tax haven blacklist in Paradise Papers fallout

The finance ministers of the European Union member states have called for the creation of a blacklist of tax havens to crack down on tax dodging, the ministers said at a meeting in Brussels on ... more

Dismiss