Retail trade in Ukraine increases 9% in April

Retail trade increased 9.1% yoy in real terms in
April, slightly accelerating from 8.9% yoy in March, Ukraine’s State Statistics
Service reported on May 21. On month-to-month basis, retail sales declined 2.2%
in real terms.

In 4M19, retail trade increased 7.9% in real terms
(vs. 4.4% yoy in 4M18). Regionally, the highest retail growth in 4M19 occurred
in the Vinnytsia (13.5% yoy), Kyiv (10.9% yoy) and Donetsk (10.0% yoy) regions.
It was slowest in the Chernihiv (1.4% yoy), Kirovohrad (3.3% yoy) and
Chernivtsi (3.9% yoy) regions.

Evgeniya Akhtyrko: Being
driven by personal income growth (mostly wages), real retail continued to pick
up in April despite reinforced inflation. Amid poor
expectations on industrial growth and slower expansion of agriculture in 2019,
the high growth pace in trade is helping to support overall economic
advancement.

We expect real retail trade to increase 6-7% yoy in
2019 (vs. 6.2% yoy in 2018).