The deficit of the current account of the balance of payments in November 2023 made USD 1.5 billion (in November 2022, it was USD 0.4 billion), and was formed due to the maintenance of a high level of foreign trade deficit in the absence of grant assistance from international partners.
This is evidenced by National Bank of Ukraine data, Ukrainian News Agency reports.
For eleven months of 2023, the current account deficit amounted to USD 9.0 billion (in January-November 2022, the surplus was USD 7.7 billion).
Excluding reinvested income and grants from international partners, the deficit amounted to USD 16.5 billion (for eleven months of 2022 - USD 4.1 billion).
Export of goods decreased by 20.9%, and import by 9.2%.
Compared to the previous month, the export of goods increased by 8.2%, and their import decreased by 9.1%.
The volume of export of goods amounted to USD 2.8 billion.
Exports decreased in almost all major product groups.
The volume of import of goods amounted to USD 5.0 billion.
The deficit in trade in services decreased to USD 0.6 billion (compared to USD 1.2 billion in November 2022) both due to a decrease in the import of services (by 23.2%) and an increase in their export (by 2.2%).
The import of services decreased primarily due to the expenses of travelers and short-term migrants (by 24.9% to USD 1.4 billion), financial (by 60.5%) and government (by 48.9%) services.
On the other hand, the import of telecommunication and computer services increased (by 38.7%).
The export of services increased at the expense of other business services (by 22.1%, mainly at the expense of professional services and consulting services in the field of management), public services (by 24.5%) and expenses of people traveling in Ukraine (by 19.4%).
The balance of payments deficit in November was USD 355 million (in November 2022, the surplus was USD 2.4 billion).
International reserves as of the end of November amounted to USD 38.8 billion, which provides financing of imports of the future period for 5.2 months.
As 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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