Investor Presentaiton
Firm external position leading to less vulnerability to external shocks
September 2019
Current and financial account balances, US$ bn
CA as %
of GDP
(3.4)% 1.8% (1.4)% (2.2)%
(3.4)%
7.4
5.0
2.6
1.6
Comments
The trade balance deficit increased to 8.6% of GDP in
2018 relating to growing consumer and investment
demand. The trend is largely supported by rising mineral
resources and machinery imports
•
Import of mineral products grew by 15.6% (y-o-y) in H1
2019, while import of non-ferrous metals, as well as
machinery and equipment increased by 15.2% and 8.7%,
respectively
Negative trade balance is offset by growing personal
money remittances together with capital account inflows
resulting into positive overall BoP of US$ 2.9bn in 2018
Private money remittances witnessed 20% (y-o-y) growth
in 2018, thus solidifying Ukraine's external accounts
Private money remittances, US$ bn
(4.6)
% of
GDP
4.9%
7.6%
8.1%
8.3%
8.5%
11.1
9.3
23%
20%
7.5
6.5
7.0
7%
8%
2.9
1.8
(1.2) (1.3)
(0.9)
(1.6)
(2.4)
(4.5)
(9.1)
2014
2015
2016
■Current account balance
2017
2018 7m 2018 7m 2019
Financial account balance
Ukraine's trade balance dynamics, US$ bn
65.4
59.1
53.9
47.9
46.0
33.2
36.1
(3.5%) (2.6%)
2.6
2.8
(6.9%)
(7.7%)
(38.7)
(41.9)
(50.2)
(52.5)
(8.6%)
(24%)
2014
(62.5)
2015
2016
2017
2018
Q1 2018 Q1 2019
(70.0)
2014
(70.3)
2015
2016
2017
2018
7m 2018 7m 2019
Personal money remittances
y-o-y growth, %
Export of goods and services
Import of goods and services
Source State Statistics Service of Ukraine, NBU
Trade balance (% of GDP)
BA
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