Ukraine: mining and metallurgy yield 30 percent of GDP

Ukrainian_Prime_Minister_Groysman in the_parlament Rada_in_Kiev. (Photo: State Department of USA)

Enterprises of the mining and metallurgical complex bring 30 percent of Ukraine’s gross domestic product, Prime Minister Vladimir Groysman declared.

- If 1 billion US dollar is invested into the sphere in the next couple of years, it will become more competitive, more systematic, creating Ukrainian product. The complex in the structure of our GDP is 30 percent. This is a colossal structure of our economy”, he noted.

According to the analytical center of the Ukrainian Mining and Metallurgical Company, in January-March Ukraine received 1 million tons of rolled metal (1.1 million tons with pipes), up by 10.2 percent YoY.

Imports increased by 5.4 percent, to 0.16 million tons. The share of imports decreased to 16.7 percent from 17.5 percent in Q1 2016.

The delivery of angles increased by 12.8 percent, of channel – by 88 percent, of hot-rolled steel – by 6.8%, of galvanized steel – by 13 percent, of beams – by 68 percent, and of cold-rolled steel – by 13 percent.

(Source: Ukrainian metal)