Ukraine's GDP in Q3, 2012 drops by 1.3% as against Q3, 2011
Ukraine's gross domestic product (GDP) dropped by 1.3% in Q3, 2012 as compared with Q3, 2011, according to the State Statistics Service of Ukraine.
As reported, Ukraine's GDP in the second quarter of 2012 against the same quarter of 2011 grew by 3%, compared to 2% in the first quarter of 2012.
According to the report, GDP in the third quarter fell by 1.2% on the second quarter of 2012.
As reported, earlier the State Statistics Service preliminary assessed Ukraine's GDP growth in H1, 2012 at 2.5%, and its nominal value at UAH 631 billion.
Ukrainian Premier Mykola Azarov later said that GDP growth slowed to 2% in the seven months of 2012 and to 1.5% in the eight months of 2012. The National Bank of Ukraine (NBU) this week said that due to a fall in engineering Ukraine's GDP is slightly lower than 1.5% in the nine months of 2012.
The State Statistics Service earlier reported that Ukraine's real GDP in 2011 was up by 5.2%. In the fourth quarter the pace of its growth slowed to 4.7% from 6.5% in the third quarter, while in the second and first quarters the growth was 3.9% and 5.4% respectively.
Ukraine's GDP in 2011 came to 69.3% of GDP of 1990 compared to 65.8% in 2010 and 63.3% in 2009. This is still lower than 74.2% seen in the pre-crisis 2008.
The Ukrainian government in the national budget for 2012 foresaw growth of real GDP by 3.9%. Experts of international financial organizations and independent experts are more careful in their projections, assessing the possible growth of the Ukrainian economy this year at 0-2%.
