Unemployment rate stood at 14.3% in 2Q25
The unemployment rate rose by 0.6ppts y/y to 14.3% in 2Q25, mainly reflecting a 6.5% y/y (-2.9% q/q) decline in self-employed individuals. The number of hired employees grew modestly by 0.5% y/y (-1.9% q/q), making up 68.8% of total employment. Notably, labor force participation rate reduced by 0.3ppts y/y to 54.1% in 2Q25.
Overall, unemployment rate averaged 14.5% (+0.6ppts y/y) in 1H25.
Trade deficit reduced by 3.4% y/y in Jul-25
In Jul-25, goods exports decreased by 10.8% y/y to US$ 610.4mn, after a 10.4% y/y growth in previous month. Goods imports also declined by 6.6% y/y to US$ 1.5bn, after a 4.4% y/y rise in previous month. Consequently, the trade deficit reduced by 3.4% y/y to US$ 854.2mn in Jul-25.
The top 5 exported commodities were cars (+1.2% y/y), precious metals (+81.1% y/y), spirits (-16.1% y/y), wine (+33.5% y/y) and aerated waters (+4.7% y/y) in Jul-25. A 9.4% of exports were directed to the EU (+61.8% y/y), 75.9% to the CIS (-2.5% y/y) and 14.6% to other countries (-48.3% y/y).
The top 5 imports were cars (-31.8% y/y), petroleum (-8.7% y/y), pharmaceuticals (+18.4% y/y), phones (+11.8% y/y) and bars and rods of iron (+71.7% y/y) in Jul-25.
Overall, in 7M25, the trade deficit increased by 11.9% y/y to US$ 6.5bn, as exports grew by 9.0% y/y to US$ 3.8bn and imports were up by 10.8% y/y, reaching US$ 10.3bn. Notably, excluding one-off paintings/drawings imports, goods imports rose by 5.6% y/y and the trade deficit was up 3.6% y/y in 7M25.
Producer price index increased by 3.6% y/y in Jul-25
Annual PPI for industrial goods increased by 3.6% y/y in July 2025, up from 3.0% in the previous month. The annual growth was mainly driven by an increase in prices in the manufacturing (+2.0% y/y), followed by electricity supply (+10.0% y/y) and mining (+13.9% y/y) sectors.
