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In 2014 negative balance of payments amounted to US $13.3 bn

1917

In 2014 the negative consolidated balance of payments totaled US $13.307 bn, reported the NBU.

At the same time in December the negative balance of payments amounted to US $2.261 bn, and in Q4 – US $8.36 bn.

The current account deficit in 2014 went down to US $5.2 bn, equal to 4% of GDP (in 2013 – US $16.5 bn dollars, 8.7% of GDP).

In 2014 export of goods dropped from US $64.997 bn (2013) to US $55.605 bn, which resulted from shutdown of production facilities and destruction of transport infrastructure in the east of the country, lower prices on world markets and deterioration of trade relations with Russia.

In 2014 the import volume decreased from US $84.974 bn to US $61.662 bn, which was caused by the weakening of the real exchange rate of the hryvnia (by 19.5%) and reduction in domestic demand (retail trade turnover decreased by 8.6%, industrial production went down by 10.7%).

At year-end 2013 the consolidated balance of payments was positive and totaled US $2.021 bn.

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