NBU reports a thirteen-fold drop in the balance of payments surplus in June
Ukraine's balance of payments was in surplus in June, at an estimated USD 23 million. The surplus stood at USD 266 million in May, USD 290 million in April and USD 306 million in June last year. The figures were released by the press office of the National Bank of Ukraine (NBU).
The current account deficit is estimated at USD 125 million. Over the first half of the year it almost doubled, from USD 285 million to USD 613 million.
Goods exports grew: in June they are estimated at USD 3.4 billion, up 11.5% year on year. For January to June, exports rose by 11.7% compared with the same period last year, reaching USD 21.2 billion. The growth is weather-related: an early harvest meant that part of the proceeds came in earlier than in previous years. The NBU also reports higher exports of meat products. The balance of trade in services moved in a negative direction.
Import growth slowed markedly, to 9.9% year on year. In June imports are estimated at USD 4.3 billion. Over the half-year, imports grew by 14% to USD 25.5 billion.
The financial account for June showed positive dynamics in investment from foreign companies. Net inflows are estimated at USD 148 million, compared with USD 282 million a year earlier. These inflows were supported by net foreign direct investment, which increased by USD 462 million. Of this, 67% of transactions involved converting loans from financial institutions into companies' share capital.
In total, net inflows for January to June 2018 are estimated at USD 922 million.
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