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Ukraine's consolidated balance of payments posts surplus of $484 mln in July 2021
KYIV. Sept 1 (Interfax-Ukraine) – The surplus of the consolidated balance of payments of Ukraine in July 2021 amounted to $484 million, which is 5.5 times more than in July 2020 ($88 million), the National Bank of Ukraine said on its website.
According to the report, the deficit of the current account of the balance of payments in July amounted to $293 million, which is 4.5 times less than in July 2020 ($65 million).
The NBU indicated that the export of goods for the year increased by 1.5 times, and their import – by 32.6%. At the same time, over the month, exports of goods increased by 5.5%, and imports – by 10%.
According to the report, the export of goods amounted to $5.2 billion, and its growth was mainly caused by an increase in the export of mineral products (including ores) by 2.4 times, ferrous and non-ferrous metals – by 2.2 times, food products – by 14.4%, wood and wood products – 1.6 times, chemical products – 19.1%, engineering products – 14.7% and industrial products – 26.9%.
The volume of imports of goods increased to $5.8 billion, in particular energy imports increased 1.8 times due to oil products, and non-energy imports – by 25.9%. In particular, the import of wood and wood products increased by 17.4%, industrial products by 23.4%, mechanical engineering products by 27.1%, food products by 15.5%, ferrous and non-ferrous metals by 1.4 times, and chemical products by 35.4%.
In addition, the surplus of trade in services, according to the National Bank, increased to $332 million from $326 million in July 2020. The main factor behind the growth of imports of services was the growth in expenses of persons traveling abroad and short-term migrants (by 31.1%). At the same time, imports of transport (1.6 times) and other business services (by 21.4%), as well as payments for the use of intellectual property (36.7%) increased. In addition, the export of computer services (by 39%) and services for the processing of mineral resources, which belong to other countries (by 1.5 times), continued to grow.
The deficit in the balance of primary income amounted to $439 million compared to a surplus of $361 million in July 2020 due to a 2.3-fold increase in payments on investment income. Income under the "wages" item increased by 8.5%.
