Despite pandemic, Ukrainian retail sales are up almost 8%

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In spite of the spring coronavirus lockdown Ukrainian retail sales accelerated to 7.6% yoy growth in real terms according to the State Statistics Service.

 In Kyiv, Ukraine’s capital and the country biggest market, January-October sales are up 17% over last year’s level for the same period. Nationwide retail sales advanced 11.6% in September and 15.2% in October, the

In spite of the spring coronavirus lockdown Ukrainian retail sales accelerated to 7.6% yoy growth in real terms according to the State Statistics Service informs.

As noted, the highest retail growth also occurred in such regions as Zaporizhia (14.9% yoy) and Chernihiv 13.5% yoy). The top losers are the Zakarpattia (-5.4% yoy) and the Chernivtsi (-0.2% yoy) regions.

“Retail sales in Ukraine are surging, backed by the fast growth of wages. Strong household consumption is helping the economy to offset the fall in investments. We expect Ukraine’s retail sales to increase 9% yoy 2020 (vs. 10.3% yoy in 2019)”, – says Evgeniya Akhtyrko, economics analyst at Concorde Capital.

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