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Industry increases for the fifth consecutive month—Ministry of Economy

Author
Maksim Nechiporenko

For the fifth consecutive month, industry has seen an increase in production. In January—July 2021, industrial production increased by 1.8%, in July 2021—by 0.2%.

"For the fifth consecutive month, the industry has seen an increase in production. According to the State Statistics Service, in January-—July 2021, industrial production increased by 1.8%," the Ministry of Economy stated in the report.

The increase in the processing industry was 1.8%, in the mining industry—1.8%, in the supply of power, gas, and air conditioning—1.7%.

In July 2021, industrial production increased by 0.2%, taking into account the effect of calendar days by 0.9%.

"In July, industrial growth was largely formed under the influence of the active foreign markets, as well as the gradual resumption of demand for certain types of products in the domestic market. The largest contribution to the industrial production index is made by export-oriented and investment-oriented types of activity," Volodymyr Hryniuk, First Deputy Minister of Economy commented.

In particular, metallurgical production accelerated growth to 8.4% due to continued favorable conditions on the world ferrous metals markets.

The production of rubber and plastic products increased by 9.9%, mechanical engineering by 3.8%, furniture production, repair and installation of machinery and equipment by 2%.

The Ministry explains these tendencies by the more active implementation of investment projects, in particular the program Big Construction.

Context. In 2020, industrial production in Ukraine decreased by 5.2% compared to 2019.

In 2019, industrial production decreased by 1.8% compared to 2018.

In 2018, industrial production increased by 1.1% compared to 2017.

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