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Economy 2020-10-15T05:37:41+03:00
Ukrainian news
Ukraine’s Current-Account Deficit Amounts To USD 1.7 Billion In September

Ukraine’s Current-Account Deficit Amounts To USD 1.7 Billion In September

NBU, current account deficit, balance of payments

The current-account deficit of Ukraine’s balance of payments amounted to USD 1.7 billion in September, according to preliminary data from the National Bank of Ukraine.

The National Bank of Ukraine announced this in a statement, the Ukrainian News Agency reports.

The current-account deficit increased to USD 3.9 billion in the period of January-September, compared with USD 1.5 billion in the corresponding period of last year.

Exports of goods reduced by 3.6% to USD 3.3 billion in September.

The exports dynamics for all commodity groups deteriorated in September primarily because of the lower yield of early grains.

Imports of goods totaled USD 5.1 billion in September. Its annual rate of increase remained high at 17.3% against the background of steady domestic demand and high energy prices.

The net capital inflow into the financial account was USD 1.1 billion (compared with USD 1.3 billion in September last year). This was facilitated by operations in the private sector, primarily trade credits.

Besides, the reduction of the amount of foreign-currency cash outside the banking system resumed in September (when it reduced by USD 142 million), primarily reflecting the reduction in demand for foreign currency among the population.

Ukraine had a balance of payments deficit of USD 582 million in September.

As a result, the country’s international reserves reduced to USD 16.6 billion at the end of September, which is sufficient to finance 2.8 months of imports.

The country had a balance of payments deficit of USD 418 million in the period of January-September.

As Ukrainian News Agency earlier reported, the current-account deficit of Ukraine’s balance of payments amounted to USD 3.8 billion in 2017, according to preliminary data from the National Bank of Ukraine.

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