The current account deficit last month narrowed to $234 million in the balance of payments in October was the reduced surplus of $91 million, the national Bank of Ukraine (NBU) reported on his page in Facebook.
In October, traditionally, increased grain exports, primarily corn. Also increased sugar exports, thanks to the access to new markets, and increased supply of gas turbine engines in India and the Russian Federation.
Due to temporary difficulties with supply of raw materials and capital repairs of individual steel plants in October reduced the export of metallurgical products. Decreased exports of oil.
For the second consecutive month continued to decrease the imports of machinery for agricultural purposes due to difficulties with the registration of agricultural machinery and its active purchases in previous periods.
The NBU said that net income in the financial account in October was $311 million and was provided by the private sector. Decisive for the dynamics of the financial account in September, remained the reduction of currency outside banks. Another influential factor was the net inflow of debt capital in both real and banking sector. The repayment of government bonds denominated in foreign currency owned by non-residents led to a reduction in liabilities of the public sector by $298 million
In connection with the completion of the programme of recapitalization of the largest banks with foreign capital, the inflow of foreign direct investment ($45 million) comes exclusively in the real sector of the economy.
In January-October 2016, the current account balance was negative and amounted to $2.5 billion current account Deficit was offset by net borrowings in the financial account. The consolidated balance of payments was positive and amounted to about $1 billion.