Surplus of current account of balance of payments amounts to USD 426 million in March

In March, the surplus of the current account of the balance of payments amounted to USD 426 million (in March 2022 - USD 1.4 billion).

This follows from a statement by the data of the National Bank, the Ukrainian News agency reports.

The surplus was formed thanks to the receipt of a grant from international partners. At the same time, a significant negative balance of trade in goods and services was maintained (including due to the significant expenses of Ukrainian citizens abroad).

In the first quarter of 2023, the current account deficit amounted to USD 0.8 billion (in the first quarter of 2022, the surplus was USD 2 billion).

Excluding reinvested income and grants from international partners, the deficit amounted to USD 4.2 billion (in the first quarter of 2022, the surplus was USD 2.3 billion).

The exports of goods rose 1.6 times, and their imports increased 2.7 times.

Compared to the previous month, the exports of goods increased by 14.9%, and their import - by 4.5%.

Export volumes of goods amounted to USD 3.6 billion.

The most significant increase was the export of food products - 2.9 times (compared to February 2023 - by 13.5%), including grain - 3 times (compared to February - 9.6%).

The volume of imports of goods amounted to USD 5.4 billion.

Energy imports increased by 38.5% (by February, they decreased by 14.5%), and non-energy imports increased 3.5 times (by February – by 10.1%).

The surplus of the consolidated balance of payments amounted to USD 3.4 billion (in March 2022, the deficit was USD 58 million).

Repayment of the debt to the IMF amounted to USD 639 million.

As of April 1, 2023, the volume of international reserves amounted to USD 31.9 billion, which provides financing of imports for the future period of 4.1 months.

As the Ukrainian News agency earlier reported, the surplus of the current account of the balance of payments in 2022 amounted to USD 8.6 billion (5.8% of GDP), with a deficit of USD 3.9 billion (1.9% of GDP) in 2021.

In general, for 2022, the consolidated balance of payments was formed with a deficit of USD 2.9 billion (in 2021, the surplus was USD 487 million).

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