Current account deficit widenes to USD 4.1 billion in July

The current account deficit widened to USD 4.1 billion (compared to a deficit of USD 2.5 billion in July 2024) due to a significant increase in imports of goods and an increase in payments on investment income.

This is evidenced by data from the National Bank of Ukraine, Ukrainian News Agency reports.

Excluding reinvested income and grants from international partners, the deficit amounted to USD 4.0 billion (in July 2024 - USD 2.3 billion).

For January - July 2025, the current account deficit amounted to USD 19.1 billion (in January - July 2024 – USD 12.9 billion).

Excluding reinvested income and grants from international partners, the deficit amounted to USD 23.6 billion (for the first seven months of 2024 - USD 11.6 billion).

Exports of goods increased by 3.1% (in June 2025 by 4.2%), imports of goods increased by 19.9% ​​(in June 2025 - by 26.6%).

Compared to the previous month, exports and imports of goods increased by 5.7% and 3.2%, respectively.

The volume of exports of goods amounted to USD 3.1 billion.

The volume of imports of goods amounted to USD 7.6 billion.

All growth was ensured by an increase in non-energy imports by 25.4% (compared to June - by 6.6%), primarily mechanical engineering products - 1.5 times (compared to June - by 2.7%).

In July 2025, in nominal terms, imports increased from all regions of the world, most of all from Asia (by USD 819 million, or 40.6%; the share increased from 32% to 37.6%) and the EU (by USD 437 million, or 15.3%, the share decreased from 45.4% to 43.6%).

Imports also increased to the countries of the Americas (by USD 77 million, or 19.1%; the share at the level of the previous year was 6.4%) and Africa (by USD 19 million, or 22.9%; the share increased from 1.3% to 1.4%).

Imports from the CIS countries were at the level of July 2024 (the share decreased from 1% to 0.8%).

The balance of payments in July was reduced to a deficit of USD 2.4 billion (in July 2024, the deficit was USD 2.9 billion).

Net borrowing from the International Monetary Fund amounted to USD 513 million (in July 2024, USD 2.2 billion).

As of August 1, 2025, the volume of international reserves amounted to USD 43 billion, which provides financing for imports in the future period for 4.7 months.

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

In 2023, the current account deficit 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).