Archive 2003

The MEMU contains a monthly review and brief analysis of the key economic policy measures and data that come public during the previous month. The MEMU supplement presents extended analysis of one key event in the Ukrainian economy. There are 12 issues per year disturbed among subscribers.




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2005      2004      2003      2002      2001      2000


  • 30.12.2004

    Monthly Economic Monitor Ukraine No.12 (38)

    The real GDP grew by 7.2% yoy between January and October, while the nine-month growth was 6.5% yoy. This increase was caused by high growth rates of value added in manufacturing, trade and transport. Also, in October agriculture continued to recover after a collapse during the summer. The value added in agriculture declined by 13.2% yoy over the first ten months, compared to 16.7% yoy over the first nine months. The real GDP is expected to grow by 7.9% for the whole of 2003.

    Issue:  No.12 (38) December 2003
  • 05.12.2003

    Monthly Economic Monitor Ukraine No.11 (37)

    In October, Derzhkomstat revised the rate of the real GDP growth for the first half of the year upward. The increase from 7.5% to 8.6% yoy is attributed to higher than previously estimated economic growth during the second quarter.

    Issue:  No.11 (37) November 2003
  • 05.11.2003

    Monthly Economic Monitor Ukraine No.10 (36)

    The real GDP increased by 5.3% yoy during the first eight months of the year. As before, the decline of the value added in the agricultural sector (-24.6% yoy) was to the large extent counterweighted by the high growth rates in manufacturing, construction, transport and trade. Industrial output grew by 14.6% yoy from January to August mainly due to the high growth rates in machine building (32.8% yoy) and metallurgy (13% yoy)

    Issue:  No.10 (36) October 2003
  • 05.10.2003

    Monthly Economic Monitor Ukraine No.9 (35)

    According to Derzhkomstat, the real GDP grew by 5.1% yoy from January to July, while the respective figure for the first six months was 7.5% yoy. This important growth deceleration must be attributed to the sharp reduction in agricultural production. The value added in this sector decreased by 31.4% yoy cum due to the poor and late harvest this year as compared to 2002.

    Issue:  No.9 (35) September 2003
  • 05.09.2003

    Monthly Economic Monitor Ukraine No.8 (34)

    During the first half of 2003 the real GDP grew by 7.5% yoy. As before, the highest growth rates of value added were in construction (21.8% yoy), manufacturing (13.7% yoy), and transport (9.2% yoy). In line with expectations, the growth rate of value added in agriculture became negative, reaching -7.2% yoy. If the trend in agriculture continues, it is likely to slow the overall GDP growth during the second half of the year.

    Issue:  No.8 (34) August 2003
  • 04.08.2003

    Monthly Economic Monitor Ukraine No.7 (33)

    During the first five months of the year the real GDP grew by 7.3% yoy, primarily because of positive developments in industry, construction and transport. At the same time, the value added growth in agriculture fell to zero, reinforcing expectations for negative growth figures for the second half of the year.

    Issue:  No.7 (33) July 2003
  • 02.07.2003

    Monthly Economic Monitor Ukraine No.6 (32)

    From January to April 2003 the real GDP increased by 7.1% yoy maintaining its high growth rate. Manufacturing, construction, transport, and the production and distribution of energy, water and gas remained major contributors to the growth, while the growth of value added in agriculture approached zero. The acceleration to 7.5% yoy of the value added growth in the transport sector compared with 0.9% yoy in the respective period of 2002 clearly indicates some recovery of Ukraines infrastructure. This growth can be explained by an expansion of transit services, as well as a general increase of economic activity in the country.

    Issue:  No.6 (32) June 2003
  • 02.06.2003

    Monthly Economic Monitor Ukraine No.5 (31)

    During the first quarter of 2003 the real GDP grew by 7.0% yoy compared to a 4.1% increase during the corresponding period of the previous year. The growth was based on positive dynamics in the manufacturing industry, constructions and transport, while at the beginning of 2002 the major driving forces were agriculture and the retail and wholesale trades. The change in the sources of value added growth indicates a shift in the economys demand structure, i.e. higher investment instead of final consumption demand.

    Issue:  No.5 (31) May 2003
  • 02.05.2003

    Monthly Economic Monitor Ukraine No.4 (30)

    Derzhkomstat revised its estimate of the 2002 economic growth. According to refined, but still preliminary results, the real GDP grew by 4.6% yoy, compared to the previous figure of 4.1%. On the demand side, households remained the major contributor to the growth, while the role of fixed capital accumulation stays moderate. The fast growth of exports during the second half of the year 2002 allowed increasing the role of external growth demand.

    Issue:  No.4 (30) April 2003
  • 02.04.2003

    Monthly Economic Monitor Ukraine No.3 (29)

    In January 2003 real the GDP growth accelerated to 7.7% yoy. Major value added growth occurred in the manufacturing industry (13.8% yoy) and construction (24.4% yoy), while the retail and wholesale trades achieved a modest 8.8% yoy level of growth, maintaining the decelerating tendency observed during the previous year. Industrial output increased by 11.6% yoy, with all three branches extractive industry, manufacturing industry, and production and distribution of electricity, water, and gas growing. The highest 22% yoy growth was registered in metallurgy, responding to favourable conditions on the world metal markets.

    Issue:  No.3 (29) March 2003
  • 02.03.2003

    Monthly Economic Monitor Ukraine No.2 (28)

    According to preliminary estimates by Derzhkomstat, the real GDP grew by 4.1% yoy in 2002 mainly due to growing value added in manufacturing and in the wholesale and retail trades. Industrial output increased by 7.0% in real terms compared to a 14.2% yoy expansion in 2001. As before, major contributors to growth were the food and petroleum-refining industries, also metallurgy and machine building. Altogether these industries accounted for two thirds of the annual industrial growth.

    Issue:  No.2 (28) February 2003
  • 02.02.2003

    Monthly Economic Monitor Ukraine No.1 (27)

    During the first eleven months of 2002 the real GDP growth was at 4.1% yoy. As before, the major value added contributions came from the wholesale and retail trades, manufacturing, and agriculture. The Ministry of Economy and European Integration further reduced its estimates of the real GDP figures for 2002. The current estimate is a 4.2-4.5% growth.

    Issue:  No.1 (27) January 2003
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