Economic growth in Ukraine decelerates to 1.3% in October
Ukraine's Gross Domestic Product (GDP) growth slowed to 1.3% (±1%) in October 2024 compared to the same period last year, marking a decrease from the 3.8% growth recorded in September, the Ministry of Economy reported on Nov. 18.
For the period from January to October 2024, GDP growth is estimated at 4.2% (±1%) compared to the same period last year. This represents a slight decrease from the 4.5% growth seen over the first nine months of 2024, 3.9% over eight months, and 4% over seven months.
The ministry noted that sectors such as transportation, manufacturing, and construction continued to show strong positive dynamics.
However, the agricultural sector experienced a decline due to the early harvest this year, with some agricultural products already collected by October.
"Thanks to the implementation of reconstruction programs and increased demand for construction work, the construction sector continues to show upward dynamics," said Oleksiy Sobolev, the first deputy economy minister.
"Among the drivers of economic growth are also transportation—primarily due to the stable operation of the grain corridor—and demand for products from the processing industry, particularly the defense sector, which is driving growth in this area."
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