Ukraine’s real GDP increased by 1% in April – IER Estimate

Summary

• According to Ukrstat, real GDP declined by 0.5% yoy in Q1 2026.
• According to the IER estimate, real GDP increased by 1.0% yoy in April.
• In April, Ukraine imported 558.3 thousand MWh of electricity, which is 40% less than in March. Electricity exports amounted to 33.3 thousand MWh.
• As of May 11, 5.89 bn m³ (bcm) of natural gas was stored in Ukraine’s underground gas storage facilities (available gas, excluding technical gas), which is 12% more than on April 12.
• In April, Ukraine’s seaports handled 8.2 m t of cargo (+36% yoy).
• In April, 2.95 m t of grain were transported by rail, which is only 1.1% less than in March and the highest figure since November 2024.
• Imports of goods increased by 42% in April to USD 8.8 bn due to higher imports across all major categories of goods.
• The EU approved a new support programme for Ukraine in the amount of EUR 90 bn –Ukraine Support Loan.
• The Government approved amendments to the 2026 State Budget to increase financing for the defence and security sector, as well as Resilience Plans.
• In March, inflation accelerated to 8.6% yoy, primarily due to a sharp increase in fuel prices as a result of the war in the Middle East.
• The NBU kept the key policy rate at 15% per annum amid high uncertainty.