The Ukrainian economy continues to demonstrate positive dynamics despite adverse external factors. According to preliminary estimates from the Ministry of Economy, GDP growth in October 2023 compared to October last year is about 10.5%. For January-October, the economy’s growth is estimated at 5.5% compared to the corresponding period last year.
Positive factors that contributed to the economy’s growth include high yields in agriculture and favorable weather, which ensured high harvesting rates. The stable situation in the energy sector and the operation of a temporary corridor for the movement of civilian vessels to the ports of Greater Odessa also added to the positive trend.
At the same time, significant destruction of infrastructure and fixed assets, significant ongoing security risks, restrictions on export logistics, the labor market’s slow recovery, and a lack of sufficient equity capital and available credit funds remain restraining factors.
In general, positive factors in October outweighed the balance of influence from these factors on Ukraine’s GDP.