Monthly Economic Monitoring of Ukraine №255, April 2026

  • According to Ukrstat, the extractive industry in February grew by 9.0% yoy due to a low statistical base, while manufacturing output declined by 1.2% yoy.
  • According to the IER estimate, real GDP declined by 0.6% yoy in Q1 2026.
  • In March, electricity imports decreased by 25% mom to 942 thous. MWh. Exports totalled 30 thous. MWh.
  • As of 12 April, Ukraine’s underground gas storage facilities held 5.26 bn m³ of natural gas (available gas excluding technical gas), which means growth by 10% mom.
  • In March 2026, rail shipments of grain totalled 3.05 m t (+11.4% mom; +36.9% yoy).
  • Exports remained stable, while imports continued to increase.
  • State Budget expenditures were under-executed, likely due to late procedures for approving the required budget documents, as well as efforts to save funds.
  • International assistance remains low partially due to delays in the implementation of conditionalities by Ukraine.
  • In March, inflation accelerated again to 7.9% yoy.
  • The NBU kept the key policy rate at 15% per annum amid high uncertainty.