KIEV: The production value of Ukraine’s construction industry dropped by 22.8 percent year-on-year in the first nine months of 2015 to 1.6 billion U.S. dollars, official data showed on Monday.
According to the report published by the State Statistics Service, all three main segments of construction activity suffered contractions in January-September, with commercial building sector recording a sharpest decline of 29.4 percent.
Two other construction sub-sectors — house building and engineering construction fell 4.4 percent and 27.7 percent respectively, the report said.
Local analysts suggested that the construction industry was badly hit by the ongoing political and economic crisis, which pulled down Ukraine’s investment attractiveness, slowed business activity and weakened local currency, resulting in suspension of many construction projects.
Last year, Ukraine’s construction industry output plunged by 21.7 percent to 2.35 billion dollars.
