In January, exports of goods increased by 52.7%.
The current account deficit of the balance of payments in January amounted to $ 26 million, 12.1% less than in January last year. Relevant data published on the website of the national Bank on Thursday, 2 March.
In the first month of the year export growth was greatly accelerated, while the pace of import growth slowed, although it remained at a high level. A significant increase in exports of goods in January (by 52.7%) due both to the low base of comparison last year and an increase in exports by main groups of goods.
“The rise in world prices on metals contributed to the growth of volumes of export of ferrous and non-ferrous metals 70, 1%. Significant expansion of supply of grain crops affected annual growth of export of food products to 55.4%, which provided half of the growth in total exports. Also significant was the growth of exports of engineering products is 34.3 percent year-on-year, while the annual export volume of chemical products decreased by 8.7%,” – noted in the NBU.
In January in the financial account saw a net outflow of funds in the amount of 177 million dollars, including $ 133 million from the private sector.
“This growth was primarily due to the repayment obligations of the banking sector, especially payments on interbank loans (302 million dollars). The net outflow of debt capital to the private sector amounted to 590 million dollars, including 246 million dollars from the real sector”, – explained in the national Bank.
At the same time, the inflow of direct foreign investments in January amounted to $ 17 million. Funds were fully directed to the real sector.
Thus in January the deficit of the consolidated balance sheet amounted to 202 million dollars, which resulted in a reduction in international reserves to 15.4 billion (3.4 months of imports of the future period).
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