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Economic Performance Analysis of Ukraine for 2024

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The State Statistics Service of Ukraine has published the results of three out of four key sectors of the real economy for 2024.

This was announced by the head of the Tax Committee of the Verkhovna Rada, Danilo Hetmantsev.

According to him, this was released with nearly a two-month delay (it was supposed to be calculated by the end of January).

In terms of transport, cargo transportation increased by 7.8%, passenger numbers rose by 6.8%, cargo turnover grew by 13.0%, and passenger turnover increased by 10.1% (in 2023, the figures were +3.4%, +27.3%, -2.0%, +26.5% respectively).

"Thus, the cargo segment has improved, while the passenger segment has slowed down," commented Hetmantsev.

  • Construction: volumes grew by 15.5% (in 2023, it was 25.0%).
  • Industry: production increased by 3.6% (in 2024, it was 6.8%).

"The reduction in recovery rates (especially in the last two sectors) is concerning. If the construction sector maintains last year's indicators, it could reach pre-war levels by 2029, while the industry will only do so in a decade, in 2035," the deputy noted.

He believes that the Ministry of Economy needs to make serious adjustments to its branding program "Made in Ukraine", as the state urgently requires acceleration rather than a slowdown in the recovery of its key sectors.