13:16 02.11.2015

Surplus of Ukraine's balance of payment in Sept totals $348 mln - NBU

2 min read
Surplus of Ukraine's balance of payment in Sept totals $348 mln - NBU

The surplus of Ukraine's consolidated balance of payment in September 2015 fell to $348 million from $513 million in August, the National Bank of Ukraine (NBU) said on its website on October 30.

The central bank said that in January-September 2015, the deficit of the balance of payment dropped to $1 million, while a year ago it was $4.947 billion.

The NBU said that the current account in September had a surplus – $135 million compared to $60 million in August, and the deficit of foreign trade with goods fell to $133 million from $229 million.

"The reduction of exports of goods slowed to 24% from 28% a month ago thanks to gradual resumption of metal and iron ore product exports and the large wheat harvest. Despite growth of imports compared to September, the total decline of imports accelerated to 34.5% from 27.2% thanks to energy imports," the NBU said.

The central bank added that in September, the surplus of trade with services ($158 million) barely changed compared to the previous months.

Exports of services grew compared to September thanks to construction works in Turkmenistan. In addition, exports of services in the pipeline transport system remained large thanks to the lifting of restrictions on gas transportation via Ukraine by Russia.

Since early 2015, the deficit of the current account was $2 million, while in January-August it was $3.2 billion. The deficit of foreign trade with goods plunged by 58.3%, to $1.993 billion.

The NBU said that foreign net borrowing on the financial account in September fell to $210 million from $444 million in August. Payments on currency swaps totaled $134 million.

The central bank said that in September, foreign direct investment (FDI) was small - $35 million.

Rollover for the long-term liabilities of the private sector grew to 27% from 16% in August. The general balance of private sector was close to a zero thanks to net payments on trade credits ($250 million) and the further reduction of off-bank cash foreign currency ($316 million).

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