16:36 02.08.2013

Surplus of Ukraine's balance of payments reaches $2.2 b in H1

2 min read
Surplus of Ukraine's balance of payments reaches $2.2 b in H1

The surplus of Ukraine's balance of payments in January-June 2013 was $2.18 billion, while in the first half of 2012 there was a deficit of $1.119 billion, according to the official Web site of the National Bank of Ukraine (NBU).

According to the report, the deficit of the balance of payments in June this year decreased by 29.8% compared to June 2012, to $1.082 billion.

The negative balance of the current account of the balance of payments in the first half of the year fell by 36% compared to the same period last year, to $3.742 billion: in June 2013 it was $673 million, which is 2.4 times lower than last year.

"The current account deficit in June declined to $700 million. This was due to the improved trade balance because of the lower volume of natural gas imports," reads a statement.

According to the NBU, in the first half of the year gas imports in natural terms decreased by 35.1%.

In general, imports of goods and services in the first half of 2013 compared to the same period in 2012 twice faster declined than exports – the decreases were 10.7% and 5.3% respectively.

According to the report, the surplus of the account of operations with capital and financial transactions in January-June 2013 increased by 25.4% compared to the same period last year, to $5.922 billion.

"In June, for the first time since October 2012, a deficit formed on capital and financial accounts ($400 million). The key factor was the planned repayment by the government of eurobonds worth $1 billion," reads a statement.

The NBU also noted that the outflow of cash currency to the non-banking sector in January-June 2013 decreased by 43%, to $853 million: in June this year the figure was $11 million, which is $154 million down from June 2012.

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