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Economy 2019-11-15T04:16:42+02:00
Ukrainian news
Surplus Of Current Account Of Balance Of Payments Makes USD 249 Million In May

Surplus Of Current Account Of Balance Of Payments Makes USD 249 Million In May

surplus, current account of balance of payments, balance of payments, GDP, deficit

The surplus of the current account of balance of payments in May made USD 249 million or 2.2% of the gross domestic product, over the deficit of USD 79 million or 0.8% of the GDP in May 2018.

The National Bank of Ukraine has said this in a statement, Ukrainian News Agency reports.

In in the first five months of 2019, the surplus of the current account of balance of payments made USD 257 million or 0.5% of the GDP, (in in the first five months of 2018 the deficit made USD 526 million or 1.1% of the GDP).

Commodities were exported for USD 4.2 billion.

The major growth factor was an increase in exportation of foodstuffs (up 34.1% - mainly crops).

Importation of goods amounted to USD 5 billion.

The volumes of energy import rose by 3.4% (21.5% in April).

Non-energy import volumes rose by 9.5% (10.8% in April).

Importation of engineering products rose by 17.4%, the greatest growth among non-energy import.

The net outflow of funds on the financial account amounted to USD 1.0 billion and was conditioned mainly by public sector operations (in May 2018, the net inflow on the financial account amounted to USD 345 million).

In in the first five months of 2019, the net outflow on the financial account made USD 718 million.

The deficit of the net balance of payments made USD 750 million.

Ukraine paid USD 356 million in a debt to the International Monetary Fund (IMF).

As at June 1, 2019, the amount of international reserves made USD 19.4 billion, which ensures financing of the future imports during 3.2 months.

As Ukrainian News Agency earlier reported, the deficit of the current account of balance of payments in 2018 made USD 4.7 billion, and the balance of payments’ surplus was USD 2.9 billion.


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