Dynamics of balance of payments of Ukraine (USD mln).
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%.
Dynamics of balance of payments of Ukraine (USD Mln)
Dynamics of balance of payments of Ukraine (USD MLN)
The surplus of Ukraine’s consolidated balance of payment in April 2020 reached $716 million, while in April 2019 the deficit was $46 million, according to preliminary data posted by the National Bank of Ukraine (NBU) on Friday.
According to the report, the surplus of the current account of the balance of payment last month was $1.4 billion, and in April 2019 the deficit was $92 million.
The volume of exports of goods in April 2020 decreased by 4% (in March 2020 by 3.5%), to $3.6 billion. The decline was due to a decrease in the export of wood and wood products by 19.6% (by 11.7%), ferrous and non-ferrous metals – by 18.1% (by 13.1%) and engineering products – by 8.3% (by 13.3%), as well as a drop in exports of industrial products and chemical products by 24.2% and 2.5% respectively, which a month earlier had increased by 2.3% and 16.7%.
At the same time, in April, export of food products continued to grow – by 6.6% (by 2.3%) and mineral products – by 12.1% (by 3.5%).
In January-April 2020, exports to Asian countries increased in money terms (by $796 million, or 16.9%), while exports to the EU and the Russian Federation decreased by $555 million (9.7%) and $111 million (13.6%) respectively. Thus, the share of exports to Asian countries of total exports increased to 37% (from 31.3% for the same period in 2019), and to the EU and Russia decreased to 34.6% (from 38%) and to 4.7% (from 5.4%).
In April 2020, import of goods decreased more significantly – by 28.4% (in March – by 6%), to $3.4 billion, including energy imports decreased by 33.4% (in March – by 11.5%), and non-energy – by 28.6% (in March – by 4.8%).
Last month, in particular, imports of engineering products decreased by 28.7% (in March – by 2.6%), including cars by 33.4% (in March, it increased by 21.7%). In addition, exports of ferrous and non-ferrous metals decreased by 36.8% (in March – by 8.6%), industrial products by 23% (by 7.2%) and chemical products – by 17.5% (in March it grew by 2.1%).
At the same time, food imports continued to grow – by 2.1% after rapid growth in March by 20.9%.
According to the results of January-April 2020, imports from Russia (by $924 million, or 37.5%) and from the EU countries (by $314 million, or 4.5%) decreased the most in money terms, while Russia’s share of total imports decreased to 9.2% (from 13.2% according to the results of the corresponding period of 2019), and the EU increased to 40.8% (from 38.2%). At the same time, imports from Asian countries remained almost unchanged – it grew only by $34 million (or 0.8%), and its share of total imports – to 26.3% from 23.3%.
According to the report, the surplus in trade in services in April 2020 tripled to $555 million compared to April 2019, thanks to the higher rate of decline in imports of services (by half) compared to their exports (by 17.0%) due to the COVID-19 pandemic.
A decrease in imports of services occurred along with a 72.2% decrease in expenses of people traveling abroad and short-term migrants, as well as a decrease in transport and other business services by 31.3% and 41.2%, respectively.
At the same time, a decrease in the export of services was facilitated by a decrease in transport services (37.5%) and expenses of people traveling in Ukraine (95.7%), while the export of computer services continued to increase (by 21.3%).
According to the central bank, the surplus in the balance of primary income in April 2020 decreased by 10.4%, to $420 million compared to April a year earlier due to the predominance of a decrease in receipts from payroll (by $158 million) over payments on income from investments (by $120 million).
Net borrowing from the outside world (total current account balance and capital account) last month amounted to $1.4 billion, which is 93.4% less than in April 2019 ($91 million).
