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Ukraine’s industrial growth

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Ukraine’s industrial growth

by Kyiv Post

Ukraine has among the best industrial growth rates of the 12-nation Commonwealth of Independent States, reported the organization’s Statistical Committee.

Industrial production increased 10.7 percent in Ukraine between January and September 2007, compared to the same period in 2006, placing the nation third after Azerbaijan and Uzbekistan. Eighty percent growth was in food-producing, machine-building and metallurgical industries, the Economy Ministry said.

Much of the growth was due to increasing trade with Russia, said Kostyantyn Kuznyetsov, an economist at the Kyiv-based Razumkov Center. Meanwhile, retail sales grew at the fastest pace in the CIS, at 27.6 percent between January and September 2007, compared to 2006. Fixed-capital investments rose 32 percent during the same period, with Ukraine ranking third behind Tajikistan and Kyrgyzstan.

Ukraine’s GDP growth of 7.3 percent (January to August 2007) ranked ninth among CIS countries, led by Azerbaijan, with 27.1growth. Ukraine’s GDP growth fell short of the 9 percent average rate among CIS countries, the Economy Ministry reported.

Personal incomes grew 28 percent in Ukraine between January and September 2007 compared to the same-year ago period, the committee reported, and this growth was outpaced only by Tajikistan (47 percent) and Azerbaijan (40 percent).


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