Current Account in Ukraine

Ukraine Current Account | Economic News & Forecasts

Ukraine - Current Account

A comprehensive GDP release confirmed that dynamics remained resilient in the third quarter, despite the generally disappointing outturn. Booming domestic demand, led by surging household consumption amid tightening labor market conditions and rising remittances, spearheaded the expansion. However, strong domestic demand dynamics were partly offset by a marked contraction in exports due to weather-related factors and a challenging external environment. Available fourth-quarter metrics suggests momentum remained largely stable. Retail sales edged up in November, against the backdrop of higher consumer confidence and despite an uptick in inflation. On a less positive note, industrial output contracted in the same month, reflecting weakness in the all-important manufacturing sector. Meanwhile, on 21 December, Moody’s upgraded Ukraine’s sovereign credit rating from Caa1 to Caa2 with a stable outlook. The ratings agency identified the recently approved USD 3.9 billion financing agreement with the IMF as the key driver for the upgrade, while citing the country’s improved external strength, the prospect of renewed access to capital markets, and its progress with anti-corruption reforms.

Ukraine - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-9.2  -3.5  1.8  -1.5  -1.9  

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Ukraine Current Account Chart


Ukraine Current Account
Note: Current account balance as % of GDP.
Source: National Bank of Ukraine and FocusEconomics calculations.

Ukraine Facts

ValueChangeDate
Bond Yield19.000.0 %Jul 27
Exchange Rate28.090.30 %Jan 16
Stock Market5560.21 %Jan 16

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