Ukraine's GDP exceeds USD 100 million for the first time

Ukraine's GDP grew by 7% in 2006 to exceed USD 100 million for the first time.

According to Valeriy Lytvytsky, the leader of a group of adviser to the National Bank of Ukraine, Ukraine's GDP growth rate reached the forecast rate for the first time in 2006, “Cabinet press office” informed.

For the first time since 1998, the rate of industrial output in Ukraine was slower than the rate of GDP growth in 2006.

That notwithstanding, industrial output in December 2006 continued the growth trend that started in November.

The service and construction sectors became the engines of industrial growth in 2006 (this first happened in 2005).

For the first time since 1999, the country's trade deficit did not stop its GDP growth because most imports were investment-oriented while the rate of export growth was in double figures.