The deficit of Ukraine’s foreign trade in goods in January-July 2020 decreased by 57.3% compared to January-July 2019, to $2.120 billion from $ 4.968 billion, the State Statistics Service has reported.
According to it, export of goods from Ukraine for the reporting period compared to the same period in 2019 decreased by 7.3%, to $ 26.630 billion, import by 14.7%, to $28.750 billion.
The State Statistics Service clarifies that in July compared to June 2020, the seasonally adjusted volume of exports rose by 3.6%, to $3.660 billion, imports by 2%, to $4.373 billion.
The seasonally adjusted foreign trade balance in July 2020 was also negative and amounted to $713.2 million, which is better than in the previous month ($751.2 million). The coefficient of coverage of import by export in January-July of this year amounted to 0.93 (in January-July 2019 some 0.85).
The State Statistics Service specified that foreign trade operations were carried out with partners from 221 countries of the world.
The deficit of the national budget of Ukraine amounted to UAH 40 billion in January-August 2020, the Finance Ministry said citing recent data of the State Treasury Service of Ukraine.
The deficit of the general fund totaled UAH 51 billion.
According to data of the State Treasury Service, expenses for the general fund amounted to UAH 646.6 billion, or 87.4% of the reporting period’s breakdown.
“A total of UAH 208 billion was raised from issuing government domestic loan bonds for financing state debt – 13.2% of the plan, including UAH 84.6 billion or $2.4 billion and EUR7 million from government domestic loan bond issues denominated in foreign currencies,” the ministry said.
Some UAH 170.3 billion was raised from external sources, which corresponds to the plan, including UAH 55.4 billion from placement of 12-year eurobonds worth $2 billion at 7.253% per annum, UAH 55.2 billion from the first tranche from the IMF in the framework of the 2020 Stand-By Arrangement, UAH 33.8 billion from placing ten-year eurobonds worth EUR1.25 billion at 4.375% per annum, UAH 15 billion in macro-financial assistance funds from the European Union, and a loan of UAH 1.35 billion from the International Bank for Reconstruction and Development in the framework of the project “Modernization of the Social Support System.”
A total of UAH 275 billion was allocated for paying off state debt, which is 99.9% of the amount planned.
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%.
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%.
The deficit of Ukraine’s state budget for 2019 was UAH 78.05 billion with the ceiling set in the national budget being UAH 91.13 billion, while in 2018 the deficit of the national budget was UAH 59.25 billion with the ceiling of UAH 94.1 billion. According to the updated information posted by the State Treasury Service of Ukraine on its website, the deficit of the general fund was UAH 68.85 billion with the ceiling being UAH 69.62 billion.
In the early days of this year, the Ministry of Finance, citing recent data from the State Treasury Service, reported on the deficit of the national budget last year in the amount of UAH 72.4 billion, or 1.8% of GDP.
The 2019 state budget deficit was almost entirely funded by borrowings, as revenues from privatization amounted to only UAH 550 million, i.e. 3.2% of the initial budget assignment.
In accordance with the updated data of the State Treasury Service, the national budget receipts for 2019 increased 7.6%, to UAH 998.28 billion, including growth of 5.5% for the general fund, to UAH 879.83 billion.
Compared with the indicators laid down in the law on the national budget, the receipts target was met by 99.1%, including 96.9% for the general fund.
Last year, national budget expenditures amounted to UAH 1.073 trillion, which is 8.7% more than the expenses of the national budget 2018, including growth of 8.4% for the general fund, to UAH 952.98 billion.
Compared with the indicators laid down in the law on the national budget, the expenditure target was met by 98.2%, including 96.9% for the general fund.
The national budget of Ukraine for 2020 was approved with receipts of UAH 1.095 trillion, including UAH 975.17 billion for the general fund, and expenditure of UAH 1.182 trillion, including UAH 1.052 trillion for the general fund. The ceiling for the deficit is set at UAH 94.3 billion, or 2.09% of forecast GDP.
