Business news from Ukraine

NATIONAL BANK IMPROVES FORECAST FOR RESERVES, DEFICIT OF BALANCE OF PAYMENT

The National Bank of Ukraine (NBU) has improved the forecast for forex reserves as of late 2019 from $20.6 billion to $21.2 billion, from $21.4 billion to $21.9 billion as of late 2020 and from $21.4 billion to $21.8 billion as of late 2021. According to data released by the central bank on Thursday, the assessment of the deficit in the consolidated balance of payments for 2019 has also been improved from $1.1 billion to $0.3 billion, while for 2020-2021 it is confirmed at the level of $0.1 billion and $0.7 billion respectively.
At the same time, the NBU worsened the forecast of the current account deficit: for the current year – from $4.5 billion to $4.9 billion, for the next year – from $5.6 billion to $5.8 billion, and for 2021 – from $6.2 billion to $6.7 billion
In relation to GDP, the assessment of the current account deficit for 2019 is worsened from 3.1% of GDP to 3.3% of GDP, for 2020 it is confirmed at the level of 3.6% of GDP, and for 2021 it is worsened from 3.9% of GDP to 4% Of GDP.
As reported, at the end of 2018, Ukraine had forex reserves of $20.8 billion, a surplus of the consolidated balance of payments of $2.9 billion and a current account deficit of $4.5 billion or 3.4% of GDP.

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DEFICIT OF UKRAINE’S STATE BUDGET COMES TO UAH 26 BLN IN Q1

The deficit of the national budget of Ukraine in January-March 2019 amounted to UAH 26.166 billion, in particular the general fund deficit was UAH 39.272 billion with the target being UAH 43.54 billion, according to data released by the State Treasury Service.
According to the agency, government borrowing for the three months of 2019 amounted to UAH 115.3 billion, while debt repayment almost UAH 94.3 billion.
Earlier, the Ministry of Finance reported that the national budget deficit for this period was financed mainly by public borrowing.
Privatization brought almost UAH 184 million with the expected figures for this period exceeding UAH 6 billion.
In general, the national budget for this period received UAH 210.6 billion in revenues, with general fund income being UAH 178.2 billion and the target standing at UAH 194.15 billion.
National budget expenditures in January-March this year were at the level of UAH 237.4 billion, including UAH 218.2 billion in the general fund, with the plan being UAH 239.3 billion.
According to the treasury, local budgets during this period posted a surplus of UAH 17.2 billion, and the surplus of the general fund was UAH 19.4 billion.

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DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS IN 2018 GROWS BY 54.5% TO $9.8 BLN

The deficit of Ukraine’s foreign trade in goods in 2018 grew by 54.5% compared with 2017, to $9.801 billion (to $6.343 billion in 2017), the State Statistics Service said on Thursday. In 2018, exports of goods increased by 9.4%, or $4.073 billion, compared to 2017, to $47.340 billion, while imports rose by 15.2%, or $7.542 billion, to $57.141 billion.
The ratio of coverage of imports by exports was 0.83 (0.87 in 2017).
The State Statistics Service specified that foreign trade operations were conducted with partners from 221 countries of the world.

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DEFICIT IN UKRAINE’S FOREIGN TRADE IN GOODS 1.7 TIMES UP IN 11 MONTHS OF 2018

The deficit of Ukraine’s foreign trade in goods in January-November 2018 increased by 66.6% compared with January-November 2017 and amounted to $8.866 billion, the State Statistics Service has reported.
According to its data, in November the deficit amounted to $920 million, whereas in October it was $1.48 billion, in September $1.46 billion, in August $940 million, in July $1.41 billion, in June $600 million, in May $630 million, April $220 million, March $460 million, February $460 million, and in January $280 million.
In January-November 2018, exports of goods compared to the same period in 2017 rose by 9.9%, reaching $43.25 billion, imports by 16.7%, to $52.11 billion.
The State Statistics Service said that in November 2018 compared with the previous month the seasonally adjusted export volume grew by 4.7%, reaching $3.98 billion, while imports decreased by 1.1%, to $4.88 billion.
The rate of coverage of imports by exports for the 11 months of this year was 0.83 against 0.88 in January-November 2017.
The State Statistics Service said that foreign trade operations were conducted with partners from 220 countries of the world.

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DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS GROWS BY 42% IN JAN-JULY

The deficit of Ukraine’s foreign trade in goods in January-July 2018 increased by 42.7% compared to January-July 2017, to $4.064 billion (it was $2.848 billion in January-July 2017), the State Statistics Service of Ukraine said. The deficit in July alone was $1.406 billion, while it was $602.7 million in June, $632 million in May, $221.6 million in April, $460 million in March, $457 million in February, and $284.1 million in January.
Exports of goods in January-July this year increased by 12.7% year-over-year, to $26.876 billion, while imports grew by 15.9%, to $30.94 billion.
Seasonally adjusted exports in July 2018 decreased by 7% from June 2018, imports grew by 0.7%. Seasonally adjusted foreign trade in July 2018 was negative and the deficit was estimated at $1.214 billion. The deficit was also registered in June 2018 ($894.2 million), in May ($ 946.5 million), in April ($570.8 million), in March ($508.2 million), in February ($411.8 million) and in January ($580.5 million).
The ratio of coverage of imports by exports was 0.87 (it was 0.89 in January-July 2017).
Ukraine traded with partners from 212 countries.

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DEFICIT OF UKRAINE’S FOREIGN TRADE GROWS 1.5-FOLD IN JAN-APRIL

The deficit of Ukraine’s foreign trade with goods in January-April 2018 grew 1.5-fold year-over-year, reaching $1.423 billion ($968.6 million in January-April 2017), the State Statistics Service reported on Tuesday. In April, the deficit was $221.6 million, while in March – $460 million, in February – $457 million and in January – $284.1 million.
In January-April 2018, exports of goods grew by 12.8% year-over-year, to $15.457 billion, and imports – by 15.1%, to $16.88 billion.
In April 2018 compared with the previous month seasonally adjusted volumes of exports fell by 3.6% and imports – by 1%. The seasonally adjusted deficit of foreign trade in April 2018 was $577.7 million, in March it was $473.9 million, in February 2018 – $352.9 million and in January – $519.9 million.
As a result, the coefficient of coverage of imports by exports was 0.92 (in January-April 2017 some 0.93).
The service said foreign trade operations were conducted with partners from 210 countries.

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