Economy 2024-03-15T07:50:22+02:00
Ukrainian news
Surplus Of Current Account Of Balance Of Payments Makes USD 773 Million In June

Surplus Of Current Account Of Balance Of Payments Makes USD 773 Million In June

surplus, account, balance of payments

In June 2020, the surplus of the current account of balance of payments made USD 773 million (in June last year, the deficit made USD 783 million).

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

Exports of goods as of the reporting date decreased by 7.1% (in May - by 23.7%), imports of goods continued to decline at a higher rate - 17.2% (in May - 35.2%).

In January-June 2020, the current account surplus amounted to USD 6.7 billion or 10.1% of GDP (in January-June 2019, the deficit was USD 1.9 billion or 2.9% of GDP).

Exports of goods amounted to USD 3.0 billion.

In January-June 2020, exports to the EU countries decreased the most (by USD 1.4 billion or 17.0%), and their share decreased to 33.2% (in January-June 2019 - 37.5%).

Exports to African countries and Russia also decreased - by USD 317 million or 12.4%, and by USD 207 million or 16.2%, respectively.

The share of African countries decreased to 10.6% (in January - June 2019 - 11.3%), and the share of Russia - to 5.1% (in January - June 2019 - 5.7%).

At the same time, exports to Asian countries increased (by USD 1.1 billion or 15.8%), their share in total exports increased to 39.0% (in January-June 2019 - 31.7%).

Imports of goods amounted to USD 3.8 billion.

Energy imports decreased 2.1 times, the same as in May 2020.

Non-energy imports decreased by 6.6% (in May - by 30.1%).

The primary income balance surplus increased to USD 692 million from USD 248 million in June 2019.

This was due to the formation of a positive balance on income from direct investments in the amount of USD 206 million (in June 2019, the balance was negative – USD 609 million) as a result of: a decrease in dividend payments of USD 193 million (in June last year – USD 329 million).

The surplus of the consolidated balance of payments amounted to USD 978 million (in June 2019 – USD 1.2 billion).

The formation of a surplus in the consolidated balance sheet together with the receipt of the first tranche from the International Monetary Fund under the new Stand-By program (in the amount of USD 2,076 million) led to an increase in international reserves to USD 28.5 billion, which provides financing for future imports for 4.9 months.

As Ukrainian News Agency earlier reported, in 2019, the current account deficit of the balance of payments decreased to USD 1.1 billion (0.7% of GDP).

In general, for 2019, the consolidated balance of payments was formed with a surplus of USD 6.0 billion (in 2018 – USD 2.9 billion).

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