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Economy 2020-07-15T05:12:04+03:00
Ukrainian news
Deficit Of Current Account Of Balance Of Payments USD 4.7 Billion In 2018, Balance Of Payments Drawn With Surp

Deficit Of Current Account Of Balance Of Payments USD 4.7 Billion In 2018, Balance Of Payments Drawn With Surplus Of USD 2.9 Billion

NBU, deficit, current account deficit, current account of balance

In compliance with preliminary data provided by the National Bank of Ukraine, in 2018, the deficit of the current account of balance of payments made USD 4.7 billion, and the balance of payments was drawn with the surplus of USD 2.9 billion.

The NBU has said this in a statement, Ukrainian News Agency reports.

The surplus of the balance of payments is registered the fourth year in a row.

In particular, last year, the surplus was possible first of all thanks to considerable inflow of capital: official financing from international organizations and funds attracted abroad.

In 2018, the deficit was increased due to expansion of merchandise trade deficit.

Favorable foreign economic situation over the most part of the year and high grain and oil-bearing crop yield supported the export growth.

However, complicated navigation at the Sea of Azov and overhaul at some enterprises constrained the growth.

In turn, stable domestic demand and high electric energy prices conditioned high rates of goods import over export.

In 2018, export of goods rose by 9.2% to USD 43.3 billion.

In 2018, the greatest was the export of goods from Ukraine to the European Union countries (15.5%).

As a result, the share of EU countries in the overall export of goods rose to 37.6% (35.6% in 2017).

At the same time, the share of Asian countries decreased from 32.4% to 31.5%, and the share of the Russian Federation decreased from 8.5% to 7%.

In 2018, import of goods exceeded export by 14% to USD 56.3 billion.

Most of goods were imported from the Asian countries (+27.3%), and as a result their share rose from 20.1% in 2017 to 22.4% in 2018.

At the same time, despite the increase of import from the EU countries (+12.4%), the share decreased from 37.2% to 36.6%.

The share of Russia also decreased from 14.5% to 14.2%.

As Ukrainian News Agency earlier reported, in 2019, the NBU is altering the approach to communication accompanying of the balance of payments statistics.

In particular, the central bank is ceasing publishing press-releases under preliminary data.