Authorization

Ukraine's consolidated balance of payment deficit in Feb totaled $74 mln

Ukraine's consolidated balance of payment deficit in Feb totaled $74 mlnThe deficit of Ukraine's consolidated balance of payment in February 2016 totaled $74 million after a surplus of $120 million in January 2016. The deficit was $743 million in February 2015.

The National Bank of Ukraine (NBU) said on its website that the deficit of the current account in February reached $251 million compared to $379 million a month earlier ($373 million in February 2015).

The decline in exports slowed in February to 12% (32.6% in January), while imports decreased by 7.3% (25% in January).

Exports of goods in February 2016 reached $2.4 billion. Exports of ferrous and non-ferrous metals fell by 18.8%, mineral products (including ores) by 34.1%, engineering products by 7.6% and food by 3%.

Exports in January through February 2016 decreased by 22.2%. Exports to Asia and Russia fell most – a 1.4-fold decline and a 1.6-fold decline, respectively. The share of Asia decreased to 34.1% (36.4% in January-February 2015), and the share of Russia was 6.9% (8.9%).

Exports to the EU fell by 0.7%, while its share grew to 39% (30.5%).

The NBU said that imports totaled $3.1 billion. Energy imports plunged by 44.5% (56.4% in January 2016), while non-energy imports grew by 9.6% (7.5% down in January). Imports of engineering products increased by 39.5% (4.2% in January), chemical products by 20.3% (4.9% down in January), and imports of industrial products rose by 13.6% (21.2% down in January).

Food imports remained almost unchanged (a rise of 0.4%).

The central bank said that in January through February imports of goods decreased by 15.9%. Imports from Russia dropped by 56.5%, year-over-year, and its share of total imports fell to 10% from 19.6%. Imports from the EU fell by 4.4%, while its share grew to 33.3% from 37.9%.

Net foreign borrowing in February totaled $223 million ($374 million in February 2015).

Net foreign borrowing in January through February 2016 reached $516 million ($658 million year-over-year).

Net inflow of funds to the financial account in February 2016 was $149 million, while in February 2015 outflow was $369 million.

The central bank assessed the increase in foreign direct investment by $891 million, mainly to the banking sector.

Net inflow of funds to the financial account in January through February 2016 was $909 million ($390 million year-over-year).

The net increase in foreign position of the banking system for transactions with portfolio and other investment in February was $763 million, which is linked to a decline in external liabilities.

Read also: Ukraine's consolidated budget sees UAH 9 bln in surplus in Jan

The NBU said credit debt decreased by $198 million and off-bank cash fell by $218 million. Off-bank cash in January through February 2016 dropped by $494 million (a rise of $209 million a year ago).

Net outflow for private sector transactions was $330 million, while inflow in February 2015 was $300 million.

The central bank said that forex reserves in February 2016 totaled $13.5 billion, which is enough to cover imports for 3.6 months.
.
See also:
Leave a comment
TOP Video
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2016    »
ПнВтСрЧтПтСбВс
 1234
567891011
12131415161718
19202122232425
262728293031