Growth of Ukraine's real GDP slows down to 0.8% in Q2 2025
Real gross domestic product (GDP) of Ukraine in the second quarter of 2025 grew by 0.8% year-over-year, while in the first quarter of this year the similar indicator was 0.9%, the State Statistics Service said.
According to its data, compared to the previous quarter, taking into account the seasonal factor, real GDP increased by 0.2%.
As reported, in July the NBU once again lowered expectations for growth of the Ukrainian economy in the current year to 2.1% from 3.1% in the April macroeconomic forecast, while the Ministry of Economy and the government maintain the forecast of 2.7%.
The National Bank of Ukraine estimated real GDP growth in the second quarter of 2025 compared to the same period last year at 1.1%, while it had previously forecast it at 1.6%. According to its updated forecast, the estimate of real GDP growth in the third quarter of this year has worsened to 2.4% from 3.5%, and in the fourth quarter – to 3.5% from 5.9%.
According to the State Statistics Service, in 2024, Ukraine's GDP growth slowed to 2.9% from 5.5% in 2023 after a drop of 28.8% in 2022 – the first year of full-scale Russian aggression. Moreover, in the fourth quarter of last year, a decrease in GDP by 0.1% was recorded after a growth of 2.2% in the third quarter, 4.0% in the second and 6.8% in the first.
The NBU forecasts GDP growth of 2.3% for next year, while the government predicts 2.4%.