Ukraine’s balance of payments recorded a deficit of $9.66 billion for the period of January–August 2026. According to the data, this is the worst figure for this period since at least 2010. The sharpest deterioration was recorded in August, reports Minfin.
In August alone, the balance of payments deficit stood at $3.1 billion. By comparison, the deficit in July was significantly lower—$682 million. Thus, the deficit increased more than 4.5-fold over the course of the month.
Reasons
One factor behind these fluctuations is the uneven inflow of international funding. A portion of external aid depends on Ukraine meeting agreed-upon conditions and adopting necessary decisions. Consequently, delays in relevant votes and the receipt of tranches can significantly impact monthly balance of payments trends.
The balance of payments also depends on factors such as:
volumes of exports and imports of goods and services;
capital flows;
private remittances and other foreign economic transactions.
