The deficit of Ukraine’s consolidated balance of payments in July 2020 was $88 million, while in the same period last year the surplus was $1.3 billion, according to preliminary data published by the National Bank of Ukraine (NBU).
According to them, the surplus of the current account of the balance of payments in July 2020 amounted to $360 million, while in July 2019 there was a deficit in the amount of $1 billion.
The volume of exports of goods in July 2020 decreased by 15.9% (in June 2020 by 6.7%), to $ 3.3 billion. The corresponding dynamics was due to a decrease in exports of ferrous and non-ferrous metals by 23.3% (by 18.7%), food products by 16.1% (5%), engineering products by 11.2% (by 4.7%), as well as export of mineral products by 21.4%, which in June grew by 3.6%.
At the same time, in July, export of chemical products increased by 25.7% (in June 2020 by 18.7%), in particular export of fertilizers by 7.5 times (2.3 times). In addition, export of industrial products rose by 7.3% (by 6.7%), and timber and wood products by 2.3% (by 3.9%).
For the seven months of 2020, exports to Asian countries in nominal terms grew (by $ 1.3 billion, or 15.3%), while exports to the EU, Africa and the Russian Federation decreased by $ 2 billion (19.4%), $ 414 million (14.3%) and $ 253 million (16.5%) respectively. Thus, the share of exports to Asian countries increased to 39.4% (from 31.6% in the same period of 2019) in total exports, and to the EU, Africa and Russia decreased to 33.1% (from 38%), 10.1% (from 10.9%) and to 5.2% (from 5.8%) respectively.
In July 2020, imports of goods continued to decline significantly, by 21.6% (in June by 16.9%), to $ 4.3 billion, in particular energy imports decreased by 1.8 times (in June halved), and non-energy by 15.5% (6.9%).
In the second month of summer, in particular, imports of ferrous and non-ferrous metals decreased by 20.4% (a month earlier by 10.9%), mechanical engineering products by 16.7% (by 6.6%), chemical products by 5.4% (by 4.5%), timber by 5.2% (by 10.8%), and import of industrial products decreased by 16.3%, while in June it increased by 3.2%.
