The deficit of Ukraine’s consolidated balance of payments stood at $2.8 billion in September 2024 (about 1.6% of the projected 2024 GDP), compared to a surplus of $0.3 billion in September 2023 and $4.9 billion in August 2024, Ukrainian media said, citing data from the National Bank of Ukraine (NBU).
The NBU said the deficit of the current account of the balance of payments excluding grants and reinvested income amounted to $2.4 billion at the end of September 2024, versus $2.3 billion a month earlier and $1.8 billion in September 2023.
“The increased current account deficit results from much smaller grants from international partners and the growing primary income deficit (investment payments have increased against the backdrop of a reduction in wages),” the bank said.
In general, the current account deficit grew by $4.9 billion year-on-year to $11 billion in January-September 2024, or, excluding reinvested income and grants from partners, to $15.2 billion from $12.7 billion last year.
According to the NBU, the negative balance of trade in goods and services has narrowed since September 2023 to $0.5 billion against $0.7 billion, respectively, as exports were growing faster than imports. In particular, exports of goods increased by 16.2% in September 2024 compared to September 2023 and by 5.6% compared to August 2024 and reached $3 billion, while imports increased by 3% compared to September 2023 year and by 0.4% compared to August 2024 and stood at $5.7 billion.
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