The surplus of Ukraine's balance of payments in January 2011 reached USD 259 million compared to a deficit of USD 1.057 billion a year earlier, reads a statement posted on the website of the National Bank of Ukraine (NBU).

Over this period, the current account surplus fell by 12%, to USD 282 million. "The balance of the current account has returned to a positive mark for the first time in the past six months, which was primarily caused by seasonal factors and the increase in exports under traditional items," the National Bank of Ukraine said.

In January 2011, the capital account and the financial account of the balance of payments were almost balanced - minus USD 23 million, compared to January 2010, when the outflow was USD 1.4 billion.

The NBU linked the improvement of the financial account to deferred payments for imports as a result of the expectations of the cancellation of pension dues from non-cash transactions.

In January 2011, there was an excess in repayments on debt obligations over the amount of funds attracted in all economic branches: public (USD 73 million), real (USD 317 million), and banking (USD 555 million).

As a result, the net repayment of loans and bonds was USD 945 million (USD 825 million in January 2010).

The volume of net FDI inflows amounted to USD 230 million, or 39% more than in January 2010. The main recipient was the real (non-banking) sector of the economy.

In January 2011, the accumulation of cash currency outside banks amounted to USD 810 million, USD 55 million less than in January 2010.

The surplus of the consolidated balance of payments helped continue the process of increasing reserve assets. Their volume at the end of January 2011 reached USD 35.1 billion, which ensures the financing of imports of goods and services over the next five months.

The surplus of Ukraine's balance of payments in 2010 totaled USD 5.096 billion, compared to a deficit of USD 13.726 billion in 2009.

UKRINFORM