In 11 months of 2024, the Ukrainian economy grew by 4% [±0.5%]. In November, the growth rate slowed slightly to 0.9% compared to November 2023.

“The drivers of economic growth in 2024 remain the transport and construction industries, processing and domestic trade. Government support programmes – grant programmes for processing, business creation and development, affordable loans at 5-7-9%, eOselia and others under the Made in Ukraine policy – played a role. Also, the increase in purchases of Ukrainian defence products stimulates the growth of machine building,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

Industries that showed positive dynamics in November:

• transport (due to the stable operation of the Ukrainian Sea Corridor);
• construction (due to state support programmes);
• domestic trade (due to stable domestic demand and supply of goods);
• processing industry (business recovery and development programmes, access to imported electricity and availability of alternative energy supply capacities);
• extractive industry (new gas production wells).