Ukraine's economy grows 6% in Q2 y/y - economy ministry estimates

KYIV, July 19 (Reuters) - Ukraine’s economy ministry said on Monday the country’s gross domestic product had grown by 6% year-on-year in the second quarter, according to its preliminary estimates, after a 2.2% decline in the first quarter.

The state statistics service will publish its official Q2 data in mid-August.

A Reuters poll had forecast Ukraine’s economy would grow about 8% year-on-year in the second quarter, after five successive quarters of decline caused by lockdowns due to the COVID-19 pandemic.

“In the second quarter of 2021 economic recovery entered a positive trend, although it continues to be affected by the pandemic,” the ministry said in a statement.

It said that internal consumer demand and strong foreign trade helped the economy to recover, while the agricultural sector and construction would provide additional impetus in the third quarter.

The government forecast 4.1% growth in the whole of 2021 compared with a 4% decline in 2020. (Reporting by Natalia Zinets; Editing by Alex Richardson)