Current account deficit grows to 6.7% of GDP in 2008
29 January 2009
Ukraine’s current account shortfall widened to USD 11.9 bln (6.7% of GDP) in 2008, according to the preliminary data from the National Bank of Ukraine. The deficit in 2007 was 3.7% of GDP. Exports amounted to USD 85.7 bln (+33.9% yoy) while imports came to USD 99.4 bln (+38.3% yoy), putting the trade deficit at USD 13.7 bln. The NBU said that foreign direct investment in 2008 was USD 9.9 bln (+7.5% yoy). See our flash note later today.
