Ukraine retail trade jumps 18% in January

Ukrainian retail sales increased 18.0% yoy (and 0.4% m/m) in January, accelerating from 5.1% yoy growth in the prior month, Ukraine’s State Statistics Service reported on Feb. 23.

 

The highest growth of retail sales in January occurred in Chernivtsi (32.3% yoy), Rivne (30.5% yoy), Khmelnytsky and Ternopil (both 27.7% yoy) regions. The slowest growth rates were in Kyiv region (11.5% yoy), Dnipropetrovsk (11.7% yoy), and the city of Kyiv (12.2%).

 

Evgeniya Akhtyrko: The accelerated growth of retail in January was mostly the result of the low comparative base of the previous year (3.5% yoy in January 2021). The low comparative base is likely to be a factor of good retail results in 1Q22. Then, the growth rate will slow to single digits.