Deficit of current account of balance of payments amounted to USD 2.5 billion in February

In February 2025, the deficit of the current account of the balance of payments amounted to USD 2.5 billion (in February 2024 – USD 542 million).

This is stated in the NBU report, the Ukrainian News agency reports.

The deficit expanded primarily due to an increase in the negative balance of trade in goods due to a simultaneous reduction in exports and an increase in imports.

The surplus of secondary income has also narrowed due to a reduction in the receipt of grants from international partners.

Excluding reinvested income and grants from international partners, the current account deficit amounted to USD 2.5 billion (in February 2024 – USD 0.9 billion).

In the first two months of 2025, the current account deficit was USD 4.9 billion (in January-February 2024, it was USD 1.4 billion).

Excluding reinvested income and grants from international partners, the deficit was USD 4.7 billion (in the first two months of 2024, it was USD 1.5 billion).

Exports of goods decreased by 15.3% (in January 2025 - by 12.7%), imports of goods increased by 15.3% (in January 2025 - by 9.5%).

Compared to the previous month, exports of goods decreased by 2.7%, and imports of goods increased by 5.4%.

The volume of exports of goods amounted to USD 2.9 billion.

The export reduction was almost entirely due to a decrease in food products by 18.1% (compared to January - by 1.4%).

The largest decrease was in the export of grain crops (by 23.3%), oils and fats (by 15.6%), oilseeds (by 30.3%) and food industry products (by 10.8%); at the same time, the export of meat and dairy products increased by 25.7%.

The volume of imports of goods amounted to USD 5.7 billion.

Energy imports decreased by 8.5% (by January - by 13.2%), mainly due to a decrease in imports of petroleum products.

At the same time, non-energy imports increased by 19.2% (by January - by 8.3%), which was provided by all components.

The balance of payments in February was reduced to a deficit of USD 2.7 billion (in February 2024 – USD 1.3 billion).

Payments to the International Monetary Fund amounted to USD 210 million (in February 2024 – USD 131 million).

As of March 1, 2025, the volume of international reserves amounted to USD 40.1 billion, which provides financing for imports for the future period for 4.9 months.

As Ukrainian News Agency earlier reported, the current account deficit in 2024 was USD 13.4 billion (7.1% of GDP) compared to USD 9.6 billion (5.4% of GDP) in 2023.

The current account deficit in 2023 was USD 9.8 billion (5.5% of GDP) compared to a surplus of USD 8.0 billion (5.0% of GDP) in 2022.

In 2023, the consolidated balance of payments was formed with a surplus of USD 9.5 billion (in 2022, the deficit was USD 2.9 billion).

The current account surplus in 2022 was USD 8.6 billion (5.8% of GDP) compared to a deficit of USD 3.9 billion (1.9% of GDP) in 2021.

Overall, in 2022, the consolidated balance of payments was formed with a deficit of USD 2.9 billion (in 2021, the surplus was USD 487 million).