The deficit of the current account of the balance of payments narrowed to USD 861 million in March (compared to a deficit of USD 2.0 billion in March 2024), primarily due to the receipt of grants from international partners: USD 2.4 billion compared to USD 151 million in March last year.
This was announced in a statement by the NBU, Ukrainian News Agency reports.
At the same time, the negative balance of trade in goods expanded due to higher volumes of imports of goods than their exports.
Excluding reinvested income and grants from international partners, the deficit amounted to USD 3.2 billion (in March 2024 - USD 1.7 billion).
In the first quarter of 2025, the current account deficit amounted to USD 5.7 billion (in the first quarter of 2024, it was USD 3.4 billion).
Excluding reinvested income and grants from international partners, the deficit amounted to USD 7.8 billion (in the first three months of 2024, it was USD 3.2 billion).
Exports of goods increased by 5.3% (in February 2025, it decreased by 15%), imports of goods increased by 20.4% (in February 2025, it was 14.4%).
Compared to the previous month, exports of goods increased by 18.2%, and imports of goods increased by 21.8%.
Exports of goods amounted to USD 3.4 billion.
More than half of the export growth was provided by an increase in exports of metallurgical products by 29.1% (compared to February, by 45.7%).
In addition, food exports increased by 4.3% (compared to February - by 15.5%) due to oils and fats (by 12.9%), oilseeds (by 7.7%), food industry products (by 11.3%) and meat and dairy products (by 25.8%); at the same time, grain exports decreased by 5.0%.
The volume of imports of goods amounted to USD 6.9 billion.
Energy imports increased 1.5 times (compared to February - 1.8 times) mainly due to an increase in gas imports.
Non-energy imports increased by 15.3% (compared to February - by 14.3%), which was provided by all components.
The balance of payments in March was adjusted with a surplus of USD 2.4 billion (in March 2024 - USD 6.4 billion).
Net payments to the IMF amounted to USD 323 million (in March 2024, net borrowings amounted to USD 157 million).
As of April 1, 2025, the volume of international reserves amounted to USD 42.4 billion, which provides financing for imports for the future period for 5.2 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).
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