Ukraine’s industrial production declined by 12.2% in May

According to the State Statistics Service, in May, industrial production in Ukraine shrank by 12.2% compared to May last year. In April, a decline was 16.2%, preceded by 7.7% in March, 1.5% in February and 5.1% in January.

At the same time, with adjustment for the effect of calendar days, industrial production in May was even somewhat lower, 11.7% against 16.7% in April.

In May, production of steel and finished metal products fell by 19%, and mining of iron ores by 4.3% against May last year.

In the first five months of 2020, industrial production in Ukraine decreased by 8.7% y-o-y.

In January–May, production of steel and finished metal products dropped by 16.1% and mining of iron ores by 6.1% compared to the same period of the previous year.

In 2019, industrial production in Ukraine declined by 1.8% against 2018. Last year, production of steel and finished metal products decreased by 3.1%, whereas mining of iron ores remained unchanged.