Weekly Insight -- Real GDP growth impresses in 1Q24
Real GDP surged 6.5% YoY in 1Q24, according to preliminary estimates of UkrStat, well above the preliminary estimate of the Ministry of Economy of 4.6%±1%. This implies real GDP was 81.6% of pre-war 1Q21.
UkrStat did not provide GDP breakdown by components. Yet, the recently published sectoral data for 1Q24 indicate strong growth across the board: industry output was up 11.2% YoY, construction surged 40%, and cargo and passenger transportation increased 20% and 24%, respectively.
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