Page 33 - UKRRptDec19

5.2​ Balance of payments, current account
Ukraine C/A deficit shrinks to $0.7bn in October
Ukraine’s current account (C/A) deficit shrank to $0.7bn in October from $1.1bn in September due to a positive switch in the primary income balance, the National Bank of Ukraine (NBU) reported on November 30.
Primary income switched to a $385mn surplus from a $102mn deficit in September on a decrease of coupon payments on international Eurobonds.
The trade deficit (goods & services) swelled to $1.4bn​ from $1.3bn due to a deteriorated balance of trade in goods. In 10M19, the C/A deficit amounted to $3.4bn (vs. $4.1bn in 10M18).
In October, the goods trade deficit swelled to $1.52bn​ from $1.45bn in September. Goods exports slowed to 7.1% y/y growth to reach $4.2bn (vs. a 12.3% y/y surge in September).
Goods imports increased 2.9% y/y to $5.7bn​ (keeping the same growth rate as in September). The weaker export growth was mostly due to slower growth of food exports (22.3% y/y in October vs. 29.4% y/y growth in September) and a drop in exports of mineral products (14.4% y/y decline in October vs. 15.2% y/y growth in September).
The relatively slow growth of imports was prompted by mineral products​, which declined 9.1% y/y in October. In addition, chemical imports dropped 6.4% y/y in October (vs. 3.7% y/y growth in September). Meanwhile,
33​ UKRAINE Country Report​ December 201 ​ ​www.intellinews.com