Current account deficit of balance of payments in January decreased to USD 0.6 billion

The current account deficit of the balance of payments in January decreased to USD 0.6 billion (in January 2025, the deficit was USD 2.8 billion).

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

The main factor in reducing the deficit was the receipt of grant aid from international partners in the amount of USD 3.1 billion (absent in January 2025). At the same time, the negative balance of trade in goods expanded due to increased imports. Excluding reinvested income and grants from international partners, the current account deficit amounted to USD 3.7 billion (in January 2025, USD 2.7 billion).

Exports of goods increased by 1.6% (in December 2025 - by 7.1%), imports of goods increased by 16.5% (in December 2025 - by 34.1%). Compared to the previous month, exports of goods decreased by 9.8%, and their imports - by 29%. The volume of exports of goods amounted to USD 3.1 billion. Exports of food products increased by 9.2% (compared to December, they decreased by 5%).

The growth was provided primarily by exports of oils and fats (by 28.3%); exports of meat and dairy products also increased (by 23.4%) and food industry products (by 2.8%). Exports of grain crops and oilseeds were almost at the level of last year - they decreased by only 1% and 1.7%, respectively.

In January 2026, in nominal terms, exports of goods to Asia increased (by USD 67 million, or 10.3%, and their share in exports of goods increased from 21.5% in January 2025 to 23.3%), Africa (by USD 10 million, or 3.2%, and their share increased by 0.1 pp to 10.6%) and the EU countries (by UDS 8 million, or 0.5%, the share decreased from 55.1% to 54.5%).

At the same time, exports to the Americas decreased (by USD 26 million, or 23.4%; their share decreased from 3.7% to 2.8%) and the CIS countries (by USD 14 million, or 10.3%, their share decreased from 4.5% to 4%). The volume of imports of goods amounted to USD 7 billion.

Imports grew both due to energy imports (by 48.6%, by December 2025 it decreased by 2.8%, mainly due to imports of petroleum products), and due to its non-energy component (by 12%, by December 2025 it decreased by 32.4%). Almost half of the growth was provided by imports of mechanical engineering products (by 22.4%, compared to December it decreased by 32.7%).

At the same time, imports of chemical industry products decreased by 5.9% (compared to December 2025 - by 24.7%). In January 2026, imports of goods from Asian countries increased the most in nominal terms (by USD 908 million, or by 42.4%; the share increased from 35.8% to 43.8%).

Imports from the EU countries also increased (by USD 227 million, or 10.1%; their share decreased from 37.6% to 35.5%). In contrast, imports from the Americas decreased (by USD 37 million, or 9.2%; their share decreased from 6.7% to 5.2%) and the CIS (by USD 18 million, or 24%; their share in imports of goods decreased from 1.3% to 0.8%).

The deficit of the consolidated balance of payments amounted to USD 0.7 billion (in January 2025 – USD 0.9 billion).

Net payments to the International Monetary Fund amounted to USD 172 million (in January 2025 there were no transactions with the IMF). As of February 1, 2025, the volume of international reserves amounted to USD 57.7 billion, which provides financing for imports for the future period for 6 months.

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

Overall, the consolidated balance of payments for 2025 was consolidated with 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 in 2024 amounted to 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 combined balance of payments was formed with a surplus of USD 9.5 billion (in 2022, the deficit was USD 2.9 billion).

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