2024-08-01T10:50:00+03:00 Politics 2024-09-15T04:12:27+03:00

Ukrainian news

Deficit of current account of balance of payments amounts to USD 2.2 billion in June

Deficit of current account of balance of payments amounts to USD 2.2 billion in June

In June, the deficit of the current account of the balance of payments amounted to USD 2.2 billion (in June 2023 – USD 109 million).

This follows from a statement by the National Bank of Ukraine (NBU), the Ukrainian News agency reports.

The formation of the deficit is due to the expansion of the negative balance of trade in goods due primarily to higher volumes of imports and the lack of grant assistance from international partners.

Excluding reinvested income and grants from international partners, the current account deficit amounted to USD 2.1 billion (in June 2023 – USD 1.0 billion).

In the first six months of 2024, the current account deficit amounted to USD 8.7 billion (in H1, 2023 – USD 1.8 billion).

Excluding reinvested income and grants from international partners, the deficit amounted to USD 8.2 billion (in H1, 2023 – USD 7.1 billion).

The export of goods decreased by 4.3% (in May 2024, it increased by 13.1%), and their import increased by 5.5% (in May 2024, it increased by 12.5%).

Compared to the previous month, the exports of goods decreased by 19.7%, while their imports decreased by 1.7%.

The volume of exports of goods amounted to USD 2.7 billion.

Exports decreased primarily at the expense of machine-building products (by 36.1%, compared to May it decreased by 23.6%).

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

Energy imports increased by 16.3% (in May - increased by 5.6%), mainly due to the increase in imports of electricity and oil products.

In turn, non-energy imports increased by 3.8% (in May - decreased by 2.9%).

In June, the balance of payments was reduced to a deficit of USD 0.9 billion (in June 2023, the surplus was USD 1.0 billion).

Net repayment of loans to the International Monetary Fund (IMF) amounted to USD 248 million, and net receipts in June 2023 amounted to USD 719 million.

As of June 1, 2024, the volume of international reserves amounted to USD 37.9 billion, which provides financing for imports for the future period of 4.9 months.

As the Ukrainian News agency earlier reported, the current account deficit of the balance of payments in 2023 amounted to USD 9.8 billion (5.5% of GDP) compared to a surplus of USD 8.0 billion (5.0% of GDP) in 2022.

In 2023, the consolidated balance of payments was formed with a surplus of USD 9.5 billion (in 2022, the deficit was USD 2.9 billion).

The balance of payments current account surplus was USD 8.6 billion (5.8% of GDP) in 2022, compared 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).