Page 32 - UKRRptJun20

5.2​ Balance of payments, current account
Ukraine’s current account (C/A) switched to a $1.4bn surplus in April from a $0.29bn deficit in March ​due to the trade and primary income balances switching to surplus, the National Bank of Ukraine (NBU) reported on May 29.
The trade balance switched to a $748mn surplus in April from a $269mn deficit in March​, with the goods trade surplus reaching $193mn (vs. a 705mn deficit in March) and services trade surplus of $555mn (vs. a $436mn surplus in March). The primary income account reached a $420mn surplus (vs. a $281mn deficit in March).
In 4M20, the current account surplus amounted to $1.8bn (vs. a $0.2bn deficit in 4M19).
Good imports plunged 28.4% y/y to $3.4bn in April​, accelerating from a 6.0% y/y decline in March. In particular, the decline in machinery accelerated to 28.7% y/y (from a 2.6% y/y slide in March).
Imports of chemicals dropped 17.5% y/y ​(vs. 2.1% y/y growth in March). The decline in imports of mineral products deepened to 34.1% y/y (from 13.4% y/y in March). In 4M20, goods imports dropped 10.7% y/y.
Goods exports declined 4.0% y/y to $3.6bn in April​ (vs. a decline of 3.5% y/y in March). The drop was mostly due to a deeper fall in exports of ferrous metals (-18.1% y/y in April vs. -13.1% y/y in March). Meanwhile, food exports improved to 6.6% y/y (from 2.3% y/y in March). In addition, exports of mineral products advanced 12.1% y/y (vs. 3.5% y/y in March). In 4M20, goods exports
32​ UKRAINE Country Report​ June 2020 ​ ​www.intellinews.com