The current account deficit of the balance of payments amounted to USD 1.9 billion (in October 2023 – USD 1.0 billion).
This is evidenced by the data of the National Bank of Ukraine (NBU), Ukrainian News Agency reports.
The expansion of the current account deficit is associated with significantly smaller volumes of grant aid from international partners and a reduction in the surplus of primary incomes (payments for investments increased against the background of a decrease in labor remuneration).
On the other hand, the negative balance of trade in goods decreased due to higher growth rates of their exports than imports.
Excluding reinvested income and grants from international partners, the current account deficit amounted to USD 1.9 billion (in October 2023 - USD 2.0 billion).
For the first ten months of 2024, the current account deficit amounted to USD 13.0 billion (for the first ten months of 2023 - USD 7.1 billion).
Excluding reinvested income and grants from international partners, the deficit amounted to USD 17.1 billion (for the first ten months of 2023 - USD 14.7 billion).
Exports of goods increased by 36.6% (in September 2024 - by 16.6%), and their imports increased by 11.4% (in September 2024 - by 6.3%).
Compared to the previous month, exports and imports increased by 20.2% and 7.8%, respectively.
Exports of goods amounted to USD 3.6 billion.
The growth was almost entirely provided by food exports (by 47.0%, compared to September by 32.1%) at the expense of all components, primarily exports of grain crops (increased 1.9 times), oilseeds (by 1.6 times), as well as oils and fats (by 34.2%).
The volume of imports of goods amounted to USD 6.2 billion.
Energy imports decreased by 5.1% (by September they increased by 4.0%): the decrease in imports of petroleum products was only partially offset by an increase in imports of electricity and coal.
For its part, non-energy imports increased by 14.1% (by September - by 8.4%).
The balance of payments in October was reduced to a deficit of USD 3.3 billion (in October 2023 - USD 0.8 billion).
Net borrowing from the IMF amounted to USD 1,029 million (in October 2023, net repayment of obligations amounted to USD 80 million).
As of November 1, 2024, the volume of international reserves amounted to USD 36.6 billion, which provides financing for imports in the future period for 4.6 months.
As Ukrainian News Agency earlier reported, the current account deficit in 2023 amounted to USD 9.8 billion (5.5% of GDP) compared to a surplus of USD 8.0 billion (5.0% of GDP) in 2023.
For 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, the consolidated balance of payments in 2022 was formed with a deficit of USD 2.9 billion (in 2021, the surplus was USD 487 million).
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