Ukraine 1Q18 retail sales accelerate to 7.6% yoy growth

Ukraine’s 1Q18 retail sales in real terms accelerated to 7.6% yoy growth in 1Q18 from 6.5% yoy in 2017, Ukraine’s State Statistics Service reported on Apr. 20. In 1Q17, retail sales increased 6.1% yoy.

 

Regionally, the highest growth occurred in Vinnytsia (12.3% yoy growth), Zakarpattia (11.8%) and Mykolayiv (10.8%) regions, while Chernivtsi (1.9%), Rivne (3.9%) and Zaporizhia (3.6%) were slowest.

 

Evgeniya Akhtyrko: The service sector was an important contributor to Ukraine’s GDP growth in 2018 amid modest industrial growth and falling agricultural production. Such strong retail growth was prompted by growing real disposable income. We expect real retail sales to rise 7-8% in 2018, as private consumption will be the major contributor to economic growth.