Ukraine sees growth of industrial output for 4th consecutive month

Wednesday, June 22, 2016 - 22:54 (EEST) Section: Latest news

The growth of Ukraine`s industrial output in May 2016 slowed down to 0.2% from 3.5 % year-over-year (y-o-y) recorded in the previous month, the State Statistics Service of Ukraine reported.
Industrial output has grown for the fourth consecutive month compared to the same period in 2015, after growth resumption in February this year for the first time in the last three years.
According to the State Statistics Service, a drop in industrial production in May accelerated to 3.7% comparing with April 2016, after a decrease of 3.4% in April as compared to March. Since the beginning of the year, in January-May, the industrial output has grown by 3.1% (y-o-y).
The highest growth dynamics in May 2016 were recorded in the production of coke and fuel – up by 13% y-o-y. The production of rubber and plastic products was up by 8.5% y-o-y. The chemical industry saw a growth of 8.4% y-o-y, while furniture and other products sector grew by 7.7% y-o-y. The metallurgic production expanded by 7.4% y-o-y.
The highest production growth rates in May 2016 as compared with the previous month were recorded in metal ores mining sector (3.5%), the manufacture of coke and fuel (1.3%), crude oil and natural gas production ( 1.2%).
The steepest decline in production in May 2016 from May 2015 was seen in the production of coal and brown coal (9.5%), the manufacture of electrical equipment (6.1%) and the textile industry (4.4%).
At the same time, in May 2016 the output of coal and brown coal shrank the most – down by 16% as compared to the previous month. The manufacture of machinery and equipment was down by 15%. The pharmaceutical industry saw a decline of 14% compared to the previous month.
The data is presented excluding the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and part of eastern Ukraine, which is the so-called Anti-Terrorist Operation zone.