The current account deficit of the balance of payments widened to USD 4.7 billion in February (the deficit was USD 3.1 billion in February 2025).
This is according to data from the National Bank, Ukrainian News Agency reports.
The main factor in the increase in the deficit was the expansion of the negative balance of trade in goods due to an increase in their imports.
On the other hand, the increase in the deficit was somewhat offset by the receipt of grant aid from international partners in the amount of USD 0.7 billion (absent in February 2025).
Excluding reinvested income and grants from international partners, the current account deficit amounted to USD 5.4 billion (in February 2025 – USD 2.9 billion).
In the first two months of 2026, the current account deficit amounted to USD 5.5 billion (in January-February 2025, it was USD 6 billion).
Excluding reinvested income and grants from international partners, the deficit amounted to USD 9.2 billion (in the first two months of 2025, it was USD 5.8 billion).
Exports of goods increased by 2.9% (in January, by 1.6%), imports of goods increased by 40.2% (in January, by 16.9%).
Compared to the previous month, exports of goods decreased by 2%, and imports increased by 22%.
Exports of goods amounted to USD 3 billion.
Exports of food products increased by 9.6% (compared to January, they decreased by 0.8%).
The growth was primarily driven by exports of oils and fats (by 32.7%).
Exports of food industry products also increased (by 16.9%) and meat and dairy products (by 6.5%).
Exports of grain crops were almost at the same level as last year - they decreased by only 0.2%, exports of oilseeds decreased by 19.4%.
In February 2026, in nominal terms, exports of goods to the countries of the Americas increased the most (by USD 62 million, or 2 times, their share in exports of goods increased from 2% in February 2025 to 4.1%) and Asia (by USD 54 million, or 8.7%, the share increased from 21.2% to 22.4%).
Exports to the CIS countries also increased - by USD 7 million, or 4.6% (their share increased by 0.1 pp to 5.3%).
Instead, exports to Africa decreased (by USD 43 million, or 15.7%, their share decreased from 9.4% to 7.7%) and EU countries (by USD 16 million, or 0.9%, their share decreased from 58.8% to 56.6%).
The volume of imports of goods amounted to USD 8.6 billion.
Imports grew both due to energy imports (by 2.4 times, by January – by 36.8%, due to imports of gas, oil products and electricity), and non-energy imports (by 28.9%, by January – by 19.3%).
Almost half of the growth was provided by imports of mechanical engineering products (by 1.5 times, by January – by 26.2%).
At the same time, imports of chemical industry products decreased by 0.3% (compared to January – by 24.8%).
In February 2026, in nominal terms, imports of goods from Asia increased the most (by USD 1.2 billion, or 1.7 times; the share increased from 30.6% to 36.2%) and the EU (by USD 0.8 billion, or 29.5%; the share decreased from 42.7% to 39.4%).
Imports from Africa also increased - by USD 12 million, or 11.9%; their share decreased from 1.7% to 1.3%.
In contrast, imports from the Americas decreased (by USD 55 million, or 11.7%; the share decreased from 7.7% to 4.8%) and the CIS (by USD 15 million, or 24.6%; the share decreased from 1% to 0.5%).
The deficit of the consolidated balance of payments amounted to USD 2.3 billion (in February 2025 – USD 2.7 billion).
Net payments to the International Monetary Fund amounted to USD 86 million (in February 2025 – USD 210 million).
As of February 1, 2025, the volume of international reserves decreased to USD 54.8 billion, which provides financing of imports for the future period for 5.7 months.
As Ukrainian News Agency earlier reported, in 2025, the deficit of the current account 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, in 2025, the consolidated balance of payments was reconciled 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 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).
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