The real gross domestic product (GDP) of Ukraine in 2024 grew by 2.9% compared to the previous year.This was reported by the State Statistics Service of Ukraine. However, during the year, the pace of economic growth showed a tendency to gradually slow down.GDP growth dynamics in 2024
According to official data, quarterly GDP growth was as follows:
I quarter: +6.8%
II quarter: +4.0%
III quarter: +2.2%
IV quarter: -0.1%
As can be seen from these indicators, the most dynamic economic growth was observed at the beginning of the year, however, in the second half of 2024 it slowed down significantly, and in the last quarter even a slight decline of 0.1% was recorded.For comparison, in 2023 the country's economy grew by 5.5%. This indicates that the recovery processes that were active after the crisis period are gradually slowing down.The total nominal GDP of Ukraine in 2024 amounted to UAH 7.66 trillion.Outlook for 2025
The beginning of 2025 also demonstrates mixed trends. According to the results of January, the real GDP of Ukraine grew by 1.5%. The main drivers of growth remain the construction industry, the processing industry and domestic trade.However, in February the rate of economic growth slowed down to 0.5%. The reasons for this decrease were:the negative impact of Russian shelling on certain sectors of the economy;
increasing uncertainty among businesses;
instability of logistics chains.
Experts note that to maintain stable economic growth, Ukraine needs favorable business conditions, increased investment, and the recovery of key sectors of the economy.The economy is expected to remain on the path to gradual recovery in 2025, but the growth rate will depend on the security situation and domestic economic reforms.
Source: https://finteco.com.ua/article/14112-ekonomika-ukrainy-u-2024-rotsi-zrosla-na-2-9-dani-derzhstatu/
