Page 30 - UKRRptNov18

September and bring the 9M18 result to around $6.1bn.
Bankers expect the 2018 goods trade deficit (according to UkrStat methodology) to reach 9.0bn, with import growth outpacing export increase.
5.2 Balance of payments, current account
Ukraine has seen its current account deficit balloon this year as its terms of trade deteriorate. The current account deficit rose to $3.9bn in January-September compared to a $1.5bn deficit during the same period a year ago, according to the National Bank of Ukraine (NBU).
The deficit in the current account of the balance of payments expanded to $1.7bn in September amid the worsening of export dynamics and significant planned payments for servicing public debt, according to Interfax news agency.
In September, exports of goods fell by 3.6% year-on-year, to $3.3bn. In January-September exports of goods grew by 9.9% y/y, to $31.5bn.
"The dynamics of exports worsened in all commodity groups, primarily due to a lower yield of early grains, smaller ending stocks of certain industrial crops from the previous harvest, repair work at steel mills, transportation difficulties and a certain deterioration in the external price situation," the NBU said in a report.
In September, imports of goods increased by 17.3% y/y to $5.1bn against the background of a stable domestic demand and high energy prices. In January-September, imports of goods grew by 15.6% y/y to $40.6bn.
Ukraine’s merchandise trade deficit shrank 40% month-on-month to $848mn in September (from $1,419mn in July), the nation's state statistics service Ukrstat stated in its preliminary report published on October 16. The seasonally adjusted goods trade deficit declined 32.6% m/m amid an adjusted
30 UKRAINE Country Report November 2018 www.intellinews.com