Ukraine's real GDP grows by 6.5% in first quarter – State Statistics Service
Photo: NBU press service

Real GDP in the first quarter of 2024 increased by 6.5% compared to the first quarter of the previous year, according to preliminary estimates by the State Statistics Service of Ukraine.

Compared to the previous quarter, real GDP growth was 1.2%, adjusted for seasonal factors.

In the first quarter of 2023, real GDP decreased by 10.3% compared to the same period of the previous year. In the second quarter, GDP grew by 19.2%, in the third quarter by 9.6%, and in the fourth quarter by 4.7%.

Real GDP is GDP at constant prices, i.e., at the prices of the base year with which the comparison is made. The base year is determined independently by the statistical authority. Real GDP is calculated as the ratio of nominal GDP to the price index.