Business news from Ukraine

DYNAMICS OF BALANCE OF PAYMENTS OF UKRAINE (USD MLN)

Dynamics of balance of payments of Ukraine (USD MLN)

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DYNAMICS OF BALANCE OF PAYMENTS OF UKRAINE (USD MLN)

Dynamics of balance of payments of Ukraine (Usd Mln)

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ARX INCREASES PAYMENTS IN UKRAINE BY 15%

ARX Insurance Company (formerly AXA Insurance, Kyiv) in March 2020 paid customers almost UAH 89 million, which is 15% more than in the same period in 2019.
According to a press release from the insurer, the amount of average daily payments remains unchanged at about UAH 4 million.
The largest payment in March exceeded UAH 2.550 million and was made to an individual under a car insurance contract.
In addition, the medical assistance and contact center of ARX continue to work 24/7. The number of calls they received in March exceeded 40,000.
The company emphasizes that during quarantine it remains in touch with customers offline, online, in social networks, instant messengers. All products that ARX offers are sold as normal.
ARX has been operating in the insurance market for 25 years, the number of its customers is about 1 million. It is represented by 70 offices in all large cities of Ukraine, has 1,530 insurance agents, 90 operators of contact centers.

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SURPLUS OF BALANCE OF PAYMENTS IN UKRAINE TOTALS $906 MLN IN JAN

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%.

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DYNAMICS OF BALANCE OF PAYMENTS OF UKRAINE (USD MLN)

Dynamics of balance of payments of Ukraine (USD mln)

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SURPLUS OF UKRAINE’S CONSOLIDATED BALANCE OF PAYMENTS IN JUNE TOTALS $1.2 BLN

Ukraine saw a $1.2 billion surplus of a consolidated balance of payments in June 2019 compared with a $750 million deficit in May, a $45 million deficit in April, a $652 million surplus in March 2019 and a $23 million surplus in June 2018.
“The surplus of the consolidated balance of payments amounted to $1.2 billion (it was $23 million in June 2018). This allowed us to simultaneously increase international reserves (by $1.1 billion) and pay off debt to the International Monetary Fund ($158 million),” the central bank said in a statement on its website.

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