Ukraine's real GDP declines 8% yoy in 4Q08

Ukraine’s real gross domestic product decreased 8% yoy in 4Q08, the State Statistics Committee announced yesterday, down from an increase of 6.4% yoy in 3Q08. Nominal GDP, at UAH 275.8 bln, was 8.4% less qoq. In the fourth quarter, only agriculture showed growth, of 23.5%, while all other sectors were down: construction by 32.4%; financial services by 30.2%; processing industry by 23.9%; retail and wholesale trade by 15.6%. For full-year 2008, the State Statistics Committee confirmed its preliminary estimate: GDP was up 2.1% yoy.