“The situation is difficult”: Ukraine’s industry continues to decline

Industrial production decline in Ukraine accelerated to 6.1% in the first quarter from 4.8% in January.

This was reported by Daniil Hetmantsev, head of the Tax Committee of the Verkhovna Rada.

The largest decline was recorded in coal mining – 42.1%. Oil and gas production fell by 14.8%, while metal ore extraction dropped by 4.0%.

Food industry output decreased by 12.3%, primarily due to a massive drop in sugar production by 83.8% and in oil and animal fat production by 24.9%. At the same time, production of meat, fish, fruits, and vegetables increased by up to 6%.

In the light industry sector, growth slowed from 28.8% in January to 8.7% by the end of the first quarter, suggesting a possible decline in the coming months.

Growth in the metallurgical sector also slowed from 11.7% to 7.9%. Oil refining output fell by 19.9%.