Ukraine's GDP grows by 3.5% in January: details
Photo: EPA / Oleg Petrasyuk

The Ministry of Economy of Ukraine estimated the growth of the gross domestic product in January at the level of 3.5%, reported the website of the ministry.

The probable error of the estimate is 1 percentage point, that is, growth could be in the range of 2.5% to 4.5%.

The main factors of January's growth were the investment demand generated by the budget, as well as the increase in export opportunities: the activation of sea transportation and the unblocking of the border with Poland.

All major sectors of the economy showed positive dynamics in January.

The transport industry was supported by the increase in domestic rail transport and cargo handling in seaports.

Industry is recovering thanks to export-oriented production, namely metallurgy, mining of metal ores and agro-processing complex.

The construction industry is supported by government orders for the restoration of damaged critical infrastructure.

Positive trends were also observed in agriculture and domestic trade in January.

The destruction of manufacturing facilities by the Russians, the difficult situation on the labor market due to high migration, and the lack of available loan resources remain key unresolved issues.