In October of this year, the current account deficit of Ukraine’s balance of payments narrowed to 2.1 billion US dollars. The National Bank of Ukraine explains this trend by two main factors that positively influenced the country’s financial situation.
This is reported by Finway
Main Factors Improving the Balance
The first reason was the increase in secondary income. Although the volume of grants from international partners decreased somewhat compared to previous periods, the overall level of international assistance remained high. This was particularly offset by an increase in other aid within the framework of cooperation with international organizations, including funds received through charitable foundations.
The second important component was the revival of foreign trade. The reduction in the trade deficit of goods was ensured by the agricultural sector. Exports of Ukrainian agricultural products, especially vegetable oils, increased due to the accumulation of stocks from the new harvest. At the same time, imports decreased due to seasonal reductions in purchases by agricultural enterprises: with the completion of the sowing campaign and the harvest, the need for fuel and fertilizers diminished.
Current Situation at Year-End
Despite the positive dynamics in October, the overall situation throughout the year remains challenging. For the first 10 months of 2025, the total current account deficit has already reached 26.9 billion dollars. In comparison, for the same period last year, this figure was 14.1 billion dollars. Thus, the gap between the country’s foreign currency inflows and expenditures has nearly doubled over the year.
“The trade deficit in goods decreased thanks to the agricultural sector. Exports rose due to food, primarily vegetable oils, as farmers accumulated stocks from the new harvest. At the same time, imports slowed down due to seasonal reductions in purchases by agricultural producers (the sowing and harvesting campaigns are concluding, so the need for fuel and fertilizers is lower).”