BoP data for December and full-year

Макроэкономика 05.02.2015 Preliminary data on the balance of payments in December showed that the monthly volume of imports grew 7.1% from the previous month while on-year growth was down 36.2%. Prior to December, the monthly volume of imports was declining in month-on-month terms every month in October and November. Excluding from imports the mineral sector, consisting mostly of energy imports, monthly imports declined as the impact of the currency devaluation reduced demand for imports. The 12-month rolling ex-minerals trade balance of Ukraine has dramatically increased the surplus to US$9.4bn, just short of the 2004 peak of $US10.3bn. Overall, the current account deficit hit 4% of GDP and FDI was a paltry US$0.4bn or 0.3% of GDP. The rollover ratio for the external borrowings by banking industry was 26.7% in December and 47.4% for the full year, while for the corporate sector it was 31.6% in December and 42.9% for the full year.