GDP rises 4.2% y-o-y in 2010
16 February 2011
According to State Statistics Committee’s preliminary estimate, Ukraine’s GDP grew 3% y-o-y in 4Q10 and 4.2% y-o-y in 2010, although no details were provided. Mykyta Mykhaylychenko: The full year 2010 figure is below our forecast of 4.5%. The deceleration from +3.4% y-o-y in 3Q10 to 4Q10 came as a surprise: the trends for most components of GDP (such as industrial production, construction, trade, agriculture) improved or stayed flat in 4Q10 vs. 3Q10. Hence, “other economic activities” look like the most plausible culprit. Providing current favorable conditions on international commodity (notable, rising export steel prices) and financial markets, we stick for now to our forecast of +4.7% of GDP growth in 2011.
