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The balance of payments of Ukraine in the black at $ 400 million

Платежный баланс Украины в плюсе на 400 млн долларовThe balance of payments of Ukraine in January reduced surplus.

The current account of the balance of payments recorded a surplus of 0.4 billion due to a significant narrowing of the goods trade deficit. This is stated in the macroeconomic and monetary survey of the NBU.

As the regulator, the capacity of supply of food products and renewed growth in exports of metallurgical products accelerated the growth of export of goods (to 9.1%).

“However, the value of imports remained almost the same as last year (up 1.2%). This is due to the reduction in purchases of energy and certain weakening of internal demand on imported goods at the background of favorable situation on the currency market”, – stated in the review.

Unlike previous months, in January, Ukraine was a net creditor nation ($0.5 billion).

In particular, the increase in net external assets of the private sector was offset by capital inflows on the public sector. The latter was formed due to investments of nonresidents in the hryvnia securities.

The consolidated balance of payments was close to zero, and the international reserves since the beginning of 2019 as at the end of January almost did not change (20.8 billion dollars).

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