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       improving, and we are likely to see retail growth in all regions in the nearest months.
The positive trends in trade might serve as the single offsetting factor to the economic recession as the other major sectors continue to languish.
  5.0​ External Sector & Trade
  Balance of payments
 2008
    2009
     2010
     2011
     2012
     2013
     2014
   2015
   2016
  2017
   2018E
   2019E
   Current account balance, USD bln
    -12.8
 -1.7
 -3
 -10.2
 -14.3
 -16.5
 -4.6
 -0.2
 -3.5
-2.4
    -4.5
 -4.7
 % GDP
  -7.1%
     -1.5%
      -2.2%
      -6.3%
      -8.1%
      -9.0%
      -3.4%
      -0.2%
      -3.7%
    -2.2%
    -3.4%
    -3.2%
   Financial account balance, USD bln
    9.7
 -12
 8
 7.8
10.1
    18.6
-9.1
    0.6
 4.7
5
    7.4
 4
 % GDP
      5.4%
    -10.2%
    5.9%
    4.8%
 5.8%
  10.1%
     -6.8%
    0.6%
    5.0%
 4.5%
      5.6%
   2.7%
 FDI net, USD bln
      9.9
    4.7
    5.8
    7
    7.2
 4.1
    0.3
    3
    3.3
 2.6
      2.4
   2.5
 % of GDP
  5.5%
     4.0%
      4.2%
      4.3%
      4.1%
      2.2%
      0.2%
      3.3%
      3.5%
    2.3%
    1.8%
    1.7%
   Gross NBU reserves (eop), USD bln
 31.5
 26.5
  34.6
 31.8
 24.5
 20.4
7.5
 13.3
  15.5
18.8
    20.8
 20.5
 Monetary and banking indicators
  2008
  2009
     2010
     2011
     2012
     2013
     2014
   2015
     2016
   2017
   2018E
   2019E
         Source: SP Advisors
29​ UKRAINE Country Report​ October 2020 ​ ​www.intellinews.com
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