Current Account in Ukraine
Ukraine - Current AccountA preliminary estimate revealed the economy expanded at the slowest pace in nearly four years in Q4 2019. Although a comprehensive release is not yet available, a sizeable downturn in industrial production appeared to be largely behind the slowdown. The record appreciation of the hryvnia in Q4 stifled competitiveness in international markets, against the backdrop of cooling global activity. In addition, agricultural output seemingly weighed on growth in Q4 amid ahead-of-scheduled harvest dates for cereals and other crops due to warm weather. Turning to the first quarter of this year, economic activity likely remained stuck in a lower gear, as the coronavirus outbreak hampers world trade and discourages investment. Meanwhile, in politics, President Volodymyr Zelensky reshuffled most of his cabinet on 4 March, as disappointing economic results hampered his approval ratings. Political turmoil could delay a vital IMF deal expected for H1 of this year.
Ukraine - Current Account Data
|Current Account (% of GDP)||-3.5||1.8||-1.5||-2.2||-3.3|
5 years of economic forecasts for more than 30 economic indicators.
Ukraine Current Account Chart
Source: National Bank of Ukraine and FocusEconomics calculations.
|Bond Yield||19.00||0.0 %||Jul 27|
|Exchange Rate||23.70||0.30 %||Jan 01|
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April 3, 2020
After months of foot-dragging, on 30–31 March the government successfully fast-tracked both the banking law and the land reform through Parliament.
March 23, 2020
Industrial production fell 1.5% over the same month last year in February, after a 5.1% drop in January and marking the fifth consecutive month of contraction in industrial sector output.
March 20, 2020
GDP growth fell to 1.5% year-on-year (yoy) in the fourth quarter of last year (Q3: +4.1% yoy), marking the weakest expansion since Q1 2016, according to a preliminary estimate by Ukraine’s Statistical Institute.
March 12, 2020
Consumer prices fell 0.3% month-on-month in February, contrasting January’s 0.2% increase.
March 12, 2020
At its 10 March, the National Bank of Ukraine (NBU) decided to cut the key policy rate to 10.00% from 11.00%, marking the sixth consecutive cut.