Ukraine’s balance of payments in January 2018 was consolidated with a deficit of $449 million, which exceeds the January-2017 level ($202 million) 2.2-fold. Such were the preliminary statistics published by the National Bank of Ukraine on its official website on Wednesday, Interfax-Ukraine reports.
According to the central bank’s data, this has caused the country’s international reserves to drop by 1.2% against the start of the year, to $18.6 billion, which is sufficient to ensure future imports for 3.5 months.
According to the regulator, the current account deficit stood at $61 million, whereas in January-2017 it amounted to $131 million.
Exports of goods stood at $3.4 billion, which means it grew by 22% in year-on-year terms. Imports of goods amounted to $3.9 billion, indicating a 30% increase in annual terms, mostly due to non-energy goods.
The net outflow of capital was to the tune of $388 million, which demonstrates a 16.2 increase from the January 2017 figure. According to the central bank, this trend was caused primarily by payments of the real sector of the economy.
Therefore, the outflow of debt capital from the private sector of the Ukrainian economy was recorded at $605 million, for the most part due to payments on long-term loans and to the shrinkage of net trade finance debt. At the same time, the boost of non-resident investment in hryvnia-nominated bonds resulted in net capital inflow in the public sector.
Net inward foreign direct investment in January 2017 stood at $80 million, demonstrating a 17.5% decline compared to the same period last year.