In January 2017, the metallurgical plants of Ukraine increased proceeds from export of ferrous metals by 71.9 percent.

In January, the export of goods increased by 52.7 percent.

In January, the deficit of the current account of payment balance was 26 million dollars, which is 12.1 less than in last January. The relevant data are posted in the site of the National Bank on Thursday, March 2, according to Correspondent’s materials.

On the first month of the year, the growth of export of goods considerably increased, while the import growth rates eased, though remained high. In January, the considerable increase of the goods export (by 52.7%) is caused by the low comparison base of the last year, as well as the increasing export volumes on the main groups of goods.

“The increase of global prices for metals contributed to increasing the volumes of export of ferrous and non-ferrous metals by 70.1%. The considerable expansion of grain crops supplies affected the annual growth of the export of food products by 55.4%, which provided the half of the growth of the total export. The growth of export of the engineering products was also considerable – 34.4% year-on-year, while the annual volumes of export of chemical production decreased by 8.7%”, NBU reported.

In January, the net outflow, amounting to 177 mln dollars, including 133 mln dollars from the private sector, was observed on the financial account.

“Such dynamics was mainly caused by payment of liabilities of the banking sector, first of all, by the payment of interbank loans (302 mln dollars). The net outflow of debt capital of the private sector was USD 590 mln, including USD 246 mln from the real sector”, according to NBU.

Meanwhile, in January, the outflow of direct foreign investments were 17 mln dollars. The funds were fully directed to the real sector.

Thus, at month-end January, the deficit of the summary balance was USD 202 billion, which caused the reduction of international reserves up to 15.4 bln dollars (3.4 months of the import of the future period).

Previously, the State Statistics Service reported that in 2016, the negative balance of the foreign trade of Ukraine was USD 2.886 bln, while in 2015 it was positive, amounting to USD 610.7 mln.