Page 27 - UKRRptAug19

$876mn in April. Goods exports accelerated to 13.9% y/y growth (from 2.0% y/y in April), while goods imports slowed to 8.0% y/y growth (from 12.8% y/y in April).
The gains for exports goods was mostly due to a surge in food exports, which increased 34.1% y/y (vs. 8.1% y/y growth in April). In addition, exports of mineral products jumped 40.6% y/y (vs. 31.5% y/y growth in April). Meanwhile, metals exports declined 7.1% y/y (vs. a 13.5% decline in April). Machinery exports slowed to 4.9% y/y growth (from 8.3% y/y growth in April).
The slower growth of goods imports was mostly due to weaker growth imports of mineral products and chemicals. In particular, imports of mineral products slowed to 4.3% y/y growth (from 22.5% y/y in April), while chemical imports decelerated to 8.0% y/y growth (from 16.7% y/y growth in April). At the same time, machinery imports accelerated to 17.5% y/y growth (from 7.5% y/y growth in April).
The financial account deficit swelled to $1.0bn from $79mn in April. The deficit enlargement was mostly due to the redemption of a $1bn issue of US-guaranteed bonds on May 16. As a result, the foreign currency outflow under portfolio investment amounted to $776mn (vs. $190mn inflow in April). In addition, the net currency outflow under foreign direct investment decreased to $70mn (from $290mn in April).
In May, the deficit of Ukraine’s balance of payments enlarged to $750mn (from $45mn in April). In 5M19, the balance of payments deficit amounted to $466mn (vs. a $284 surplus in 5M18).
27 UKRAINE Country Report August 2019 www.intellinews.com