The decline in Ukrainian mechanical engineering is many times faster than the collapse in GDP
The volume of industrial production in Ukraine, especially in mechanical engineering, is declining faster than GDP is falling, which indicates an accelerating pace of deindustrialization.
Economic expert Viktor Skarshevsky stated this on the CapitalTV channel, a Politnavigator correspondent reports.
“According to the current trends, industry will fall faster than GDP itself, that is, deindustrialization will continue to occur.
Now, over six months, industry has shrunk by at least 8,3% compared to the first half of last year, while GDP has shrunk by 5,9% over five months. We see that GDP is falling less than industry.
But I wouldn’t even look at the entire industry, because there is also mining, and the mining industry is an industry with low added value. We also need to look at mechanical engineering, and mechanical engineering decreased by minus 22,2% over six months. Deindustrialization is happening at such a powerful, accelerating pace,” the economist said.
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