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Ukraine’s balance of payments deficit at $449 million in January

Exports of goods stood at $3.4 billion, which means it grew by 22% in year-on-year terms.
11:41, 1 March 2018

Finance Ministry

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.

Related: Ukraine’s surplus of balance of payments doubles in 2017

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.

Related: Current Ukrainian balance of payments deficit fell to $ 234 million in October, - National Bank

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.

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