subscribe to newsletter
24.2 24.51
26.1 26.6
Economy 2020-02-20T04:02:19+02:00
Ukrainian news
Deficit Of Current Account Of Balance Of Payments Makes USD 1.1 Billion In 2019

Deficit Of Current Account Of Balance Of Payments Makes USD 1.1 Billion In 2019

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

The deficit of the current account of balance of payments in 2019 decreased to USD 1.1 billion (0.7% of the gross domestic product).

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

Less the compensation obtained by the Naftogaz of Ukraine national joint-stock company from the Russia's gas monopoly Gazprom pursuant to the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC; Sweden), the deficit of the current account of balance of payments made USD 4 billion (2.6% of the GDP) over USD 4.4 billion (3.3% of the GDP) year over year.

The commodity and services export growth rates made 7.2% (9.8% in 2018), and those of the import – 7.1% (12.8% in 2018).

In December 2019, the surplus of the current account amounted to USD 2.4 billion.

The export of goods rose by 1.4% (fell by 3.1% in November), while the import of goods rose by 7.9% (decreased by 1.5% in November).

Export of goods in 2019 rose by 6.4% (9.2% in 2018) to USD 46.1 billion.

The major growth factor was the increase in the export of foodstuffs by 19% (4.8% in 2018) thanks to the high grain crops export (33.1%).

At the same time, the export of ferrous and non-ferrous metals decreased substantially or by 12.3% (15.3% in 2018).

In 2019, the import of goods rose by 7.1% (13.6% in 2018) to USD 60.1 billion.

The import grew thanks to non-energy import by 11.8% (13.3% in 2018), thanks mainly to the import of machinery (21%).

At the same time, the energy import decreased by 7.6% (it grew by 14.2% in 2018).

The surplus of transactions with capital made USD 38 million (USD 37 million in 2018).

Net borrowing from the external sector in 2019 (the overall balance of the current account and the account of operations with capital) made USD 1 billion (USD 4.3 billion in 2018).

In 2019, the net liquidity balance was formed with the surplus of USD 6 billion (in 2018 it was USD 2.9 billion).

The net debt redemption to the International Monetary Fund (IMF) made USD 1.6 billion.

In December 2019, the surplus of the net liquidity balance made USD 3.3 billion (USD 1.8 billion in December 2018).

The formation of the surplus of the net liquidity balance conditioned the growth in the international reserves to USD 25.3 billion.

As Ukrainian News Agency earlier reported, 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 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%).

Больше новостей о: current account deficit deficit balance of payments GDP NBU

News

ok