Ukraine’s balance of payments recorded a surplus for the first time in five years.
At the end of 2015 the positive balance of payments amounted to $ 849 million against a negative balance of $ 13.3 billion in 2014.
Payment balance of Ukraine on the results of 2015 returned from a deficit in proficit state, while the surplus in 2015 amounted to $ 849 million against a negative balance of $ 13.3 billion in 2014.
According to the National Bank, before the last time the balance of payments was reduced to the “plus” in 2010.
“This is primarily the result of a significant reduction in the current account deficit. Last year, this deficit was the lowest since 2005. If in 2014 the figure was $ 4.6 billion (3.5% of GDP), in 2015 it dropped to $ 204 million (0.2% of GDP) “, – said the regulator.
Correction of the current account balance of payments contributed to a more rapid decline in imports (33.5%) compared with a fall of exports (30.5%).
According to the NBU, the decline of exports in 2015 was influenced by factors such as unfavorable foreign economic situation on the metals markets and agricultural products, restrictions on trade with Russia. Most significantly reduced exports of engineering products, metallurgy and chemical industry.
At the same time, this was offset by a decline in energy prices, a decrease in the volume of gas imports, high yields of certain types of cereal. The most significant drop was recorded in the import of food products, engineering products and energy resources.
Also improved the balance of payments financial account surplus.
Net revenue in the financial account in 2015 was $ 488 million, primarily due to significant volumes of official financing from international partners.
Positively on the state of the financial accounts affected and the influx of foreign direct investment ($ 3.1 billion in 2015). Three-quarters of these revenues occurred in the banking sector and have been associated with the recapitalization of banks by parent financial institution.
Formation of the balance of payments surplus, together with access to financing from the IMF Ukraine has caused an increase in gold and foreign currency reserves of the NBU in 2015 to $ 13.3 billion, which provides financing of imports in future periods for 3.4 months.
As previously reported, over 11 months in 2015 Ukraine’s balance of payments recorded a surplus of $ 566 million against the deficit of $ 11.046 billion in the same period in 2014.
In 2014 the balance of payments recorded a deficit of $ 13.307 billion.
