Current account deficit in May was at same level as last year - USD 3.7 billion

The current account deficit was at the same level as last year - USD 3.65 billion: the expansion of the negative balance of trade in goods (due to higher growth rates of imports of goods) and primary income (due to a decrease in wages and salaries and an increase in income payments) was offset by an increase in grant and other assistance from international partners.

This is stated in the message of the National Bank, Ukrainian News Agency reports.

Excluding reinvested income and grants from international partners, the deficit amounted to USD 4.1 billion (in May 2025 - USD 3.6 billion).

For the five months of 2026, the current account deficit amounted to USD 18.1 billion (in January-May 2025 - USD 12.9 billion).

Excluding reinvested income and grants from international partners, the deficit was USD 23.6 billion (for the first five months of 2025, USD 16.5 billion).

Exports of goods were at the same level as last year, growing by only 0.5% (in April 2026, they grew by 11.9%), while imports grew by 16.6% (in April 2026, they grew by 32.6%).

Compared to the previous month, exports of goods decreased by 3%, and imports by 8.5%.

Exports of goods amounted to USD 3.4 billion.

Exports of food products grew by 5.5% (compared to April, they decreased by 4.3%) due to increased exports of grain crops (by 14%), oilseeds (by 14.9%), and food products (by 1.4%).

In contrast, exports of dairy products decreased (by 22.1%).

Exports of meat products and oils and fats remained at the same level as last year.

Imports of goods amounted to USD 8.2 billion.

Energy imports increased by 20.2% (compared to April, decreased by 11.7%), mainly due to an increase in imports of petroleum products (by 2 times) and electricity (by 2.9 times).

At the same time, imports of natural gas (by 83.9%) and coal (by 58.3%) decreased.

The growth of non-energy imports amounted to 16.1% (compared to April, decreased by 8%) and was provided by an increase in imports of mechanical engineering products (increased by 31.9%, compared to April, decreased by 1%).

The balance of payments in May was reduced to a deficit of USD 2.2 billion (in May 2025 – USD 2 billion).

Net payments to the International Monetary Fund amounted to USD 0.1 billion (at the level of May 2025).

As of May 1, 2026, the volume of international reserves amounted to USD 45.7 billion, which provides financing for imports in the future period for 4.7 months.

As Ukrainian News Agency earlier reported, in 2025, the current account deficit of the balance of payments amounted to USD 31.9 billion (14.9% of GDP) compared to USD 15.2 billion (8% of GDP) in 2024.

In total, for 2025, the consolidated balance of payments was reduced to a surplus of USD 12.8 billion; in 2024, the balance of payments was in equilibrium (the deficit was only USD 3 million).

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.