Ukraine’s GDP grew by 6%

Ukraine’s GDP grew by 6%

Ukraine’s GDP grew by 6% yoy in the second quarter, the Economy Ministry reported yesterday. The increase comes after five straight quarters of decline due to the coronavirus pandemic. In a Reuters poll, economists predicted an 8% yoy increase. The Ministry said: “In the second quarter of 2021 economic recovery entered a positive trend, although […]

$2.7bln IMF Deal

$2.7bln IMF Deal

🔵 Ukraine should receive $2.7 billion from the IMF by late August, in time for $3 billion in debt payments due in September.  The funds will be Ukraine’s portion of a $650 billion distribution of IMF money approved Thursday by the IMF Board. “This is a very positive step by the IMF, including for Ukraine, […]

Huge Chinese Infrastructure Investment, GDP +8%?

Huge Chinese Infrastructure Investment, GDP +8%?

Three years in the making, an agreement signed last week in Beijing for China to finance and build  bridges, highways and railways in Ukraine represents a big step up for China’s commitment to Ukraine, Chinese analysts tell the South China Morning Post. “Ukraine can only embrace China more since both the EU and NATO have […]

Ukraine’s foreign trade increased

Ukraine’s foreign trade increased

Ukraine’s foreign trade in goods increased by almost 30% for the first half of this year, compared to the same January-June period last year said Taras Kachka, Ukraine’s Trade Representative writes on Facebook. Compared to the first half of 2019, the last ‘normal’ year, trade is up 22% and the trade deficit is down 60%, to […]

UKRAINE BUSINESS NEWS

UKRAINE BUSINESS NEWS

New car sales increased by 30% during the first half of this year, compared to the same January-June period last year, reports Ukravtoprom, the vehicle industry association. Last year, despite the Covid-induced recession, car sales dropped only 3%, compared to 2019. Of the 48,400 new cars sold this year through June, the leading brands were: […]

EU Exports +60%, Istanbul Canal & LNG

EU Exports +60%, Istanbul Canal & LNG

🔵 Ukraine’s exports of goods to the EU grew by 60% in the five years since Ukraine joined the Deep and Comprehensive Free Trade Area pact with the EU, Prime Minister Shmygal writes on Facebook. This year, Ukraine’s exports to the EU may hit €20 billion. Last year, the EU received 41% of Ukraine’s exports of goods and […]

Ukraine Signs EU Open Skies Agreement

Ukraine Signs EU Open Skies Agreement

🔵 The 27-nation EU Council approved yesterday an open skies airline agreement with Ukraine. Scheduled to be signed this fall, the deal will “promote trade, tourism, investment and economic and social development,” the Council said. The accord, “neighborhood aviation agreement”, will require Ukraine to “adopt EU aviation standards and implement EU aviation rules,” the Council added. The […]

Trade with China Continues to Explode

Trade with China Continues to Explode

Ukraine’s trade with China, its largest trading partner, jumped by 48%, to $7.4 billion, during the first five months of this year, compared to January-May last year, Fan Xiangong, China’s ambassador to Ukraine told reporters yesterday. He said Ukraine is the top supplier to China of wheat, sunflower oil and sunflower meal. Speaking at a […]