Ukraine's annual GDP growth rate makes up 2.1%

Real GDP of Ukraine in the third quarter of 2017 advanced 0.2% as compared to the second quarter and taking into account the seasonal factor and 2.1% year-on-year, according to the updated data by the State Statistics Service of Ukraine.

Thus, positive dynamics has been observed for 7 consecutive quarters after more than two years of decline.

The tendency is affirmed by the indicators of international trade balance, according to the State Statistics Service. Exports of Ukraine went up by 18.5%, imports – by 24.6%. Ukraine has involved in foreign trade transactions with 219 countries from the beginning of the year. Exports of goods to the EU countries grew significantly, in particular to Switzerland (2.5fold), Belgium and the Netherlands (57.1% and 60.4%), to the USA (89.1%) and India (32.5%).

In terms of products, exports of agricultural products grew, primarily of crops and animal products (20.6% and 46.5% respectively), cereals and fats (15.3% and 26.9%), as well as ready-made food products (25.4% ). A growing trend was also recorded in the export of polymers, textiles, and other industrial goods.

Import growth has been observed with almost all trading partners.

In terms of commodities, imports of fuel and lubricants account for 23.1% of total imports. And this indicator contains the effects of the energy blockade in Donbas, when due to the loss of access to coal mines and coal enterprises, the need of the State for energy resources has increased dramatically, which is currently satisfied through importing energy sources.