Executive Summary
- According to the Ukrstat, real GDP increased by 1.8% in 2025, driven by growth in domestic demand
- According to the IER estimate, real GDP declined by 1.5% yoy in February due to the destruction and damage to energy, railway, and other critical infrastructure caused by russian drones and missiles.
- February electricity imports in Ukraine set a new record at 1.26 million MWh — a 41% increase yoy; there were no electricity exports.
- As of March 15, Ukraine's underground gas storage facilities held 5.19 billion m³ of natural gas (available gas, excluding technical reserves), which is 9% below the same period last month.
- Since its launch in 2023, the Ukrainian maritime corridor has transported 179 m t of cargo, of which 107 m t was grain.
- In February, 2.5 m t of grain were transported by rail toward ports and western border crossings (+6.4% mom).
- Imports increased sharply against the backdrop of high energy import and defense import needs. Exports increased slightly due to the growth of agricultural exports.
- Risks of delays in EU support under the Ukraine Facility increased due to the lack of progress in implementing the indicators of the Ukraine Plan.
- The IMF approved a new 4-year programme for Ukraine in the amount of USD 8.1 bn.
- In February, inflation accelerated to 7.6% yoy for the first time since May 2025.
- The hryvnia depreciated to UAH 44 per USD, but remained stable against the euro.
