Decline in industrial production in Ukraine accelerates to 5.4% y/y in August.

By bne IntelliNews September 17, 2013

In August, industrial production declined by 5.4% y/y compared to 4.9% y/y contraction seen in July, the State Statistics Service has announced. In m/m terms, industrial production in August fell by 2.5%. In Jan-Aug, industrial production shrank by 5.2% y/y.

In particular, mining and quarrying in August decreased by 1.1% m/m, and grew by 1.1% y/y. The volume of the processing industry in August decreased by 73.2% m/m and 9% y/y.  Manufacture of food products, beverages and tobacco decreased by 1.4% m/m (down by 8.5% y/y), the amount of light industry declined during the month by 2.6% (down by 11.8% y/y). Manufacture of coke, refined petroleum products in August increased by 3.2% m/m (down by 5.8% y/y).

Manufacture of chemicals and chemical products declined during the month by 9.2% (down by 25% y/y), rubber and plastic products grew by 3.3% (down by 4.3% y/y). The volume of steel production in August decreased by 2.9 % m/m (for the year - 2.4%), machinery for the month decreased by 5.1 % ( for the year - a decline of 3.4%).

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

Putin admits Islamic terrorists carried out the Crocus City attack, but maintains accusation of a Ukrainian link

In the wake of the devastating terrorist attack at Crocus City Hall, Russian President Vladimir Putin has admitted that Islamic extremists carried out the attack on concert-goers at the Crocus City ... more

Ukrainian banks received record profits of $457mn in January

Ukraine's banking sector earned a record after-tax profit of UAH16.762bn ($457 mn) in January 2024, the National Bank of Ukraine (NBU) reported on March 6. Leading the charge was the state-owned ... more

Western sanctions against Russia miscalculated their impact, some of them have benefited the Russian economy, says Sberbank

The architects of Western sanctions against Russia miscalculated the impact of sanctions, particularly underestimating Russia's resilience to external financial pressures and its ability to boost ... more

Dismiss