Politics 2024-07-15T04:49:58+03:00
Ukrainian news
Deficit of current account’s balance of payments makes USD 777 million in July

Deficit of current account’s balance of payments makes USD 777 million in July

deficit, balance, July, current account

The deficit of the current account of the balance of payments in July 2023 made USD 777 million (in July 2022, the surplus was USD 1.4 billion).

This is evidenced by National Bank of Ukraine data, the Ukrainian News agency reports.

The formation of the deficit is due to the expansion of the negative balance of trade in goods and services and smaller amounts of grant aid received from international partners.

In the first seven months of 2023, the current account deficit was USD 2.0 billion (in the first seven months of 2022, the surplus was USD 4.3 billion).

Excluding reinvested income and grants from international partners, the deficit amounted to USD 9.1 billion (for the first seven months of 2022 – USD 743 million).

The export of goods decreased by 17.1%, while their import increased by 10.2%.

Compared to the previous month, the export and import of goods decreased by 21.1% and 1.5%, respectively.

The volume of the exports of goods amounted to USD 2.2 billion.

The volume of the imports of goods amounted to USD 5.1 billion.

Energy imports decreased by 48.7% (down by 13.0% by June), and non-energy imports increased by 30.1% (at the level of June).

The services trade deficit halved to USD 614 billion (compared to USD 1.2 billion in July 2022).

Exports of services increased by 12.6%, while imports decreased by 18.3%. The exports of services grew mainly due to transport services (17.3% due to air, road and rail transport) and other business services (25.7%).

The computer services exports also continued to grow - by 3.1% (in June - by 1.6%).

The surplus of the consolidated balance of payments amounted to USD 2.6 billion (in July 2022, the deficit was USD 299 million).

The formed surplus led to an increase in the volume of international reserves to USD 41.7 billion, which provides financing of imports for the future period of 5.6 months.

As the Ukrainian News agency earlier reported, the balance of payments current account surplus in 2022 was USD 8.6 billion (5.8% of GDP) compared to 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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