According to the preliminary estimate of the Derzhkomstat, in 2006 real GDP increased by 7.1%, significantly accelerating during the year. In January the growth was estimated at mere 0.9% yoy. In nominal terms, the GDP is estimated at around UAH 536 bn, or USD 106 bn.
Despite a political turmoil and external shocks, the economic growth in the country remained high. According to the Derzhkomstat, in 2007 real GDP grew by 7.3% yoy, thus preserving the growth pace of the previous year. In nominal terms, the GDP reached UAH 709.4 bn, or USD 140.5 bn.
Ukraine’s economy entered in a recession in the fourth quarter of 2008 as the world financial crisis uncovered and aggravated weaknesses of the national economy.