Page 24 - UKRRptJuly18

5.0 External Sector & Trade
Balance of payments 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017e
Current account balance, -12.8 -1.7 -3 -10.2 -14.3 -16.5 -5.3 -1 -3.4 -3.8 USD bln
% GDP -7.1% -1.5% -2.2% -6.3% -8.1% -9.0% -4.0% -1.1% -3.7% -3.9%
Financial account balance, 9.7 -12 8 7.8 10.1 18.5 -8 0.8 4.5 3.3 USD bln
% GDP 5.4% -10.2% 5.9% 4.8% 5.8% 10.1% -6.1% 0.9% 4.9% 3.4%
FDI net, USD bln 9.9 4.7 5.8 7 6.6 3.4 0.3 2.5 3.4 1.4
% of GDP 5.5% 4.0% 4.2% 4.3% 3.8% 1.8% 0.2% 2.8% 3.6% 1.4%
Gross NBU reserves (eop), 31.5 26.5 34.6 31.8 24.5 20.4 7.5 13.3 15.5 18.2 USD bln
Source: SP Advisors
5.1 External sector overview
Trade dynamics revealed. The leading countries in terms of export growth from Ukraine in January-April 2018 (y/y) are Latvia (+84%), Morocco (+ 67.8%), Moldova (+ 66.7%), Slovakia (+ 65.7%), Serbia (+ 57.5%), Bulgaria (+ 46%), Hungary (+ 48.8%), Germany (+ 37.4%), Iraq (+ 37.8%), and the Czech Republic (+ 33.8%)
The top single export destinations were Russia (7.7%), Poland (7%), Turkey (6.1%), Italy (6.1%), India (5.7%), Egypt (4, 2%), China (4.2%), Germany (4.1%), Hungary (3.7%), and the Netherlands (3.4%) the State Statistics Service has revealed in data on the geographical structure of foreign trade.
Exports to Russia grew by a whopping 31% over the first four months of 2018 to $2.6bn. Ukraine’s trade deficit with Russia doubled to $1.2bn.
The largest drop in exports was recorded in : Iran (-43.7%), Japan (-26.7%), Republic of Korea (-23%), Egypt (-21.5%), Saudi Arabia (-20.7%). Exports to the Russian Federation decreased by 6.4%. In general, in January-April 2018 to $1.4bn
Ukraine exported goods for the amount of $15,456.9mn or 112.8% compared to the same period last year, while imports made up $16,879.8mn or 115.1%.
The negative balance of trade totalled $1,422.9mn (in January-April 2017 – the negative balance was $968.6mn).
Trade with Moldova should hit $1bn this year, a 13% increase over last year, Volodymyr Kistion, deputy Prime Minister, predicts Tuesday after meeting in Kyiv with Moldova’s Minister of Economy and Infrastructure. Led by
24 UKRAINE Country Report July 2018 www.intellinews.com