The surplus of Ukraine’s consolidated balance of payments in January 2020 was $906 million, while in January 2019 the deficit was $68 million, according to preliminary data from the National Bank of Ukraine (NBU).
The NBU said that the current account surplus of the balance of payments in January 2020 amounted to $590 million, which is 5.4% lower than the same indicator a year earlier ($624 million).
According to the central bank, the export of goods in the first month of 2020 increased 2.3% (in December 2019 by 1.4%) and amounted to $3.8 billion.
The main factor behind the growth of the indicator was an increase in the export of food products by 14.3% (in December 2019 by 15.7%) due to an increase in the export of grains by 21.9%, oils and fats – by 29.5%. In addition, the export of engineering products increased 33.9% (in December 2019 by 10.5%), as well as mineral products – 18.1% and chemical products –24.9%, whereas in December last year, these indicators decreased by 8.3% and 5.1%, respectively. At the same time, exports of ferrous and non-ferrous metals decreased significantly: 26.4% (in December 2019 27%).
Imports of goods in January 2020 decreased 1.7% (in December 2019 increased 7.9%) and amounted to $3.9 million.
Its reduction is due to a decrease in energy imports by 17.7% (in December 2019 by 14.3%), imports of ferrous and non-ferrous metals by 6.3% (in December 2019 by 1.8%) and chemical products – by 3.2%, whose import in December last year increased 6.3%.
At the same time, non-energy imports in January 2020 increased by 2.7% (in December 2019 by 13.8%), and the volume of import of engineering products decreased only 0.3%, while in December 2019 it increased 15.4%.
The deficit of Ukraine’s balance of foreign trade in 2019 totaled $3.63 billion, which is 41.5% less than in 2018 ($6.21 billion) and this is linked to the sharp improvement of trade in services with Russia, the State Statistics Service has reported. Last year, exports of goods and services increased 11.2% to $63.68 billion, while imports – only 6%, to $67.31 billion.
The main improvement was thanks to an increase in the surplus in trade in services by 63.4% to $8.71 billion: their exports jumped by 30.9%, to $15.24 billion, while imports by only 3.5%, to $6.53 billion
At the same time, in particular, the export of Russian services grew at once by 85.3% to $6.18 billion, while their imports from Russia – only by 4.4%, to $0.29 billion. This is probably due to a payment of $2.9 billion, which Gazprom transferred to Naftogaz at the end of the year as part of the execution of the award of the Arbitration Institute of the Stockholm Chamber of Commerce in a dispute between the companies on their transit contract.
At the same time, last year in trade in goods, imports grew faster than exports. In general, over the year, deliveries to Ukraine increased 6.3%, to $60.78 billion, while supplies from Ukraine – 5.8%, to $50.06 billion. As a result, the deficit of trade in goods increased 8.8%, to $10.72 billion.
According to the State Statistics Service, last year there were negative trends in trade with the EU: export growth slowed to 3.9% from 14.3% a year earlier, while imports – to 7.5% from 12.7%, resulting in a deficit in trade with the EU, which expanded by 31.5%, to $4.56 billion.
The export of Ukrainian goods to the EU in 2019, in particular, increased 3%, to $ 20.75 billion, while the import of European goods to Ukraine grew 7.7%, to $24.99 billion.
As reported, the deficit of Ukraine’s balance of foreign trade in 2018 amounted to $5.83 billion, which is 2.3 times worse than in 2017. In 2018, exports of goods and services grew by 8.6%, imports – by 14.3%.
The deficit of Ukraine’s balance of foreign trade in 2019 totaled $3.63 billion, which is 41.5% less than in 2018 ($6.21 billion) and this is linked to the sharp improvement of trade in services with Russia, the State Statistics Service has reported. Last year, exports of goods and services increased 11.2% to $63.68 billion, while imports – only 6%, to $67.31 billion.
The main improvement was thanks to an increase in the surplus in trade in services by 63.4% to $8.71 billion: their exports jumped by 30.9%, to $15.24 billion, while imports by only 3.5%, to $6.53 billion
At the same time, in particular, the export of Russian services grew at once by 85.3% to $6.18 billion, while their imports from Russia – only by 4.4%, to $0.29 billion. This is probably due to a payment of $2.9 billion, which Gazprom transferred to Naftogaz at the end of the year as part of the execution of the award of the Arbitration Institute of the Stockholm Chamber of Commerce in a dispute between the companies on their transit contract.
At the same time, last year in trade in goods, imports grew faster than exports. In general, over the year, deliveries to Ukraine increased 6.3%, to $60.78 billion, while supplies from Ukraine – 5.8%, to $50.06 billion. As a result, the deficit of trade in goods increased 8.8%, to $10.72 billion.
According to the State Statistics Service, last year there were negative trends in trade with the EU: export growth slowed to 3.9% from 14.3% a year earlier, while imports – to 7.5% from 12.7%, resulting in a deficit in trade with the EU, which expanded by 31.5%, to $4.56 billion.
The export of Ukrainian goods to the EU in 2019, in particular, increased 3%, to $ 20.75 billion, while the import of European goods to Ukraine grew 7.7%, to $24.99 billion.
As reported, the deficit of Ukraine’s balance of foreign trade in 2018 amounted to $5.83 billion, which is 2.3 times worse than in 2017. In 2018, exports of goods and services grew by 8.6%, imports – by 14.3%.
Dynamics of balance of payments of Ukraine (USD mln)
The balance in the foreign currency account with the Treasury as of the beginning of November 2019 exceeded UAH 20 billion in the hryvnia equivalent, Finance Minister Oksana Markarova has said. In October 2019, it amounted to about UAH 35 billion in the hryvnia equivalent, according to the materials published by the minister on Facebook on Friday.
The highest amount of the Treasury’s forex account balance this year was recorded in June 2019, when it topped UAH 80 billion, after which it started to steadily decrease.
Dynamics of balance of payments in Ukraine (in usd mln)
