The balance of payments of Ukraine in the red by $250 million

Платежный баланс Украины в минусе на $250 млн

The balance of payments of Ukraine in January-October deficit of

In October, the current account deficit of the balance of payments of Ukraine decreased to 863 million dollars.

Balance of payments of Ukraine in January-October 2018 has been reduced to a deficit of 254 million us dollars. It is reported by the national Bank of Ukraine on Friday, November 30.

“The balance of payments in October was reduced with a surplus of 164 million U.S. dollars. ... The balance of payments for January-October deficit of 254 million US dollars”, – stated in a press release.

The national Bank noted that the deficit of the current account balance narrowed in October compared to September to $863 million due to the absence of significant payments on the national debt. If we take the figure of 10 months, the current account deficit widened to $4.6 billion compared with $1.7 billion in the corresponding period last year.

In October resumed export growth (11% yoy to $3.9 billion) primarily due to the high yield of corn. Total grain exports reached a record high for October of the physical volume of 4.2 million tons and its value increased 1.5 times in annual terms.

There is also increased exports of other food products: chicken meat, sugar, fats and oil. Overall, the growth in food exports in October amounted to 15.8% in annual terms.

At the same time, growth in export volumes of metal products slowed in October to 3.2% in annual terms due to a certain deterioration of the price situation, reducing the volume of production and sophisticated logistics in the sea of Azov.

In General, during January-October exports of goods increased by 10% compared to the same period last year to $35.5 billion

The growth of imports of goods in October has accelerated (up 22.2% yoy to $5.6 billion) due to the non-energy imports (machinery, food products and industrial products). The growth of energy imports in October remained high due to domestic demand on the part of farmers and high prices for energy.

In General, during January-October, imports of goods increased by 16% compared to the same period last year to $46.1 bln

The net inflow of foreign direct investment (FDI) in October was $203 million, 64% of which was directed to the real sector. For the first 10 months of this year, net inflows totaled $1.7 billion, of which 25% of the activity of the banking sector on debt restructuring in the authorized capital.

In January-October 2018 net capital inflow in the financial account amounted to $4.3 billion and was higher than in the same period last year ($3.8 billion).

Also, the NBU informed that the international reserves at the end of October was $16.7 billion, providing import financing for the future period of 2.8 months.

We will remind, in the first nine months of 2018 balance of payments of Ukraine deficit of $ 418 million. And in August the balance of payments of Ukraine was executed with a surplus of 27 million dollars.

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