Decline in industrial production in Ukraine slows to 4.9% y/y in July.

By bne IntelliNews August 19, 2013

In July, the industrial production in Ukraine declined by 4.9% y/y compared to June and May, when the decline in industrial production was 5.7% and 9.3% respectively, the State Statistics Service reported.

In Jan-Jul, the decline in industrial production was 5.3%, which corresponds to the figure for the first half of the year, but worse than 5.2% in the Jan-May and 4.2% in Jan-Apr. In m/m terms industrial production rose by 5.1%.

Extracting industry in Jan-Jul contracted by 5.5% y/y. In July alone, extracting industry shrank by 5.4% y/y and rose by 4.6% m/m.

The volume of manufacturing industry decreased by 7.5% y/y in Jan-Jul. In July, the industry witnessed decline of 7.5% y/y and growth of 4.3% m/m.  

Manufacture of food products, beverages and tobacco products increased during the month by 0.7% (decreased by 8.7% y/y), the light industry rose over the month by 5.7% (fell by 7% y/y). Manufacture of coke, refined petroleum products in July increased by 4.2% (decrease of 8.2% y/y).
Manufacture of chemicals and chemical products has increased over the month by 3% (down by 18.8% y/y), output of rubber and plastic products grew by 8.4% (down by 5.6% y/y). The volume of steel production in July increased by 6.1% (up by 1.6% y/y), mechanical engineering - an increase for the month was 2.8% (down by 11.5% y/y).
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 ).

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

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