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Economy 2019-12-10T04:01:15+02:00
Ukrainian news
Deficit Of Current Account Of Balance Of Payments USD 0.7 Billion In October

Deficit Of Current Account Of Balance Of Payments USD 0.7 Billion In October

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

In October, the deficit of the current account of balance of payments amounted to USD 651 million or 5.1% of the gross domestic product (in October 2018, it made USD 711 million or 5.8% of the GDP).

This follows from the data provided by the National Bank of Ukraine, Ukrainian News Agency reports.

Commodity export rose more rapidly as against their import by 7.1% and 2.9% respectively.

In September 2019, commodity export rose by 12.3% and the import by 2.9%.

In the first ten months of 2019, the deficit of the current account of balance of payments made USD 3.4 billion or 2.8% of the GDP (in the first ten months of 2018, the figures were USD 4.1 billion and 3.9% of the GDP).

The export brought USD 4.2 billion.

The major growth factor was increase in export of foodstuffs by 22.3% (29.4% in September) at the expense of exportation of oil-bearing crops’ seeds (2.1 times) and grain (19.9%).

The commodity import amounted to USD 5.7 billion.

In October, volumes of energy import decreased by 9.6% (15.4% in September).

The non-energy import rose by 7.1% (9.8% in September) mainly over the importation of engineering products, which grew by 19.4% (and by 16.3% in September).

As at November 1, 2019, the amount of the international reserves made USD 21.4 billion, which ensures financing of further import during 3.4 months.

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

Since 2019, the National Bank of Ukraine has altered the approach to the communicative accompanying of the balance of payment’s statistics.


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