2023-02-01T13:14:00+02:00 Economy 2024-09-15T05:56:20+03:00

Ukrainian news

Surplus Of Current Account Of Balance Of Payments Makes USD 8.6 Billion In 2022

Surplus Of Current Account Of Balance Of Payments Makes USD 8.6 Billion In 2022

In 2022, the surplus of the current account of balance of payments amounted to USD 8.6 billion (5.8% of GDP), compared to a deficit of USD 3.9 billion (1.9% of GDP) in 2021.

This is stated in the message of the NBU, Ukrainian News Agency reports.

The surplus was formed mainly thanks to the receipt of grants from international partners and the reduction of payments for investment income.

At the same time, the negative balance of trade in goods and services expanded significantly, including at the expense of significant spending by Ukrainian citizens abroad.

Excluding reinvested income and grants from international partners, the deficit amounted to USD 5.3 billion (in 2021, the surplus was USD 1.0 billion).

The export of goods and services decreased by 29.9% (in 2021 it increased by 34.3%), while their import decreased by only 3.9% (in 2021, it increased by 33.4%).

In December 2022, the current account surplus was USD 183 million (in December 2021, the deficit was USD 1.1 billion).

According to current account operations, excluding reinvested income and grants, the deficit amounted to USD 2.1 billion, in December 2021 - USD 2.2 billion.

In December 2022, the export of goods decreased by 47.9% (in November - by 42.8%), and their import decreased by 21.4% (in November - by 29.6%).

Compared to the previous month, the export of goods decreased by 7.9%, while their import increased by 14.4%.

The export of goods for the year decreased by 35.1% (in 2021, it increased by 39.8%) and amounted to USD 40.9 billion.

The main factor was a decrease in the export of ferrous and non-ferrous metals by 62.6% (in 2021, it increased by 79.0%).

Exports of food products decreased by 15.5% (in 2021 - increased by 24.9%), mainly due to a decrease in grain exports by 26.2% (in 2021 - increased by 31.2%), while exports of oil and oilseeds increased by 2.5 % (in 2021 - by 24.8%).

The import of goods for the year decreased by 20.3% (in 2021, it increased by 34.3%), its volume amounted to USD 55.6 billion.

Energy import decreased by 8.9% (in 2021, it increased 1.8 times).

Non-energy imports also decreased by 23.2% (in 2021, they increased by 26.6%).

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).

Net borrowings from the IMF totaled USD 632 million for the year.

In December 2022, the surplus of the consolidated balance of payments amounted to USD 528 million (in December 2021 - USD 366 million).

The net repayment of the debt to the IMF in December 2022 was USD 166 million.

As of January 1, 2022, the volume of international reserves amounted to USD 28.5 billion, which provides financing for imports in the future period for 3.4 months.

As Ukrainian News Agency earlier reported, the deficit of the current account of balance of payments in 2021 was USD 2.1 billion (1.1% of GDP) compared to a surplus of USD 5.3 billion (3.4% of GDP) in 2020.

The surplus of the current account of balance of payments in 2020 made USD 6.6 billion (4.1% of the gross domestic product) over the deficit of USD 4.1 billion (2.7% of the GDP) year over year.