Ukraine's economy grew by 4% in 11 months: main drivers are transport, construction and processing

In 11 months of 2024, the Ukrainian economy grew by 4% [±0.5%].

This is indicated in a statement by the Ministry of Economy, the Ukrainian News agency reports.

In November, the growth rate slowed down slightly and amounted to 0.9% compared to November 2023.

"The drivers of economic growth in 2024 remain the transport and construction industries, processing and domestic trade. State support programs played their role - grant programs for processing, business creation and development, affordable lending of 5-7-9%, e-housing and others within the framework of the Made in Ukraine policy. Also, the increase in the procurement of Ukrainian defense industry products stimulates the growth of mechanical engineering," the press service quotes the First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Yuliia Svyrydenko.

Industries that demonstrated positive dynamics in November:

- transport (due to the stable functioning of the Ukrainian Sea Corridor);

- construction (due to state support programs);

- domestic trade (reasons - stable domestic demand and supply of goods);

- processing industry (business recovery and development programs, access to imported electricity and the availability of alternative energy supply capacities);

- mining industry (working on new gas wells).

As the Ukrainian News agency earlier reported, in the first 10 months of 2024, the Ukrainian economy grew by 4.2%.