In January 2025, the Ukrainian economy grew by 1.5%. The growth drivers remain the construction industry, manufacturing, and domestic trade, said Oleksii Sobolev, First Deputy Minister of Economy.

“The slowdown in economic growth in January was due to a decline in exporters’ activity. However, high budget financing compensated for the temporary drop in commodity exports. The key growth factors were: the restoration of damaged critical infrastructure, major reconstruction and repair of roads in emergency areas, and housing construction. Purchases of domestic defence products also remained high, which in turn stimulated an increase in production in the machine building sector,” said Oleksii Sobolev.

GDP growth in January 2025 is estimated at 1.5%. Manufacturing, domestic trade and construction continued to show positive dynamics. At the same time, agriculture saw a decline in livestock production due to higher production costs. There was also a decline in the mining and transport sectors. The reason for this was the suspension of operations of mines in Donetsk region located on the contact line. There were also disruptions in electricity supply due to massive missile attacks.

As a reminder, GDP growth is estimated at 1.7% in December 2024. The GDP growth forecast in the 2025 budget is 2.7% for that year.