Romania’s current account deficit reached EUR 2 billion in the first four months of this year, namely about 1% of the projected gross domestic product (GDP) for this year.

The deficit was 15% higher than in the same period of 2017, according to data released by Romania’s National Bank (BNR).

Romania recorded a higher deficit in the trade of goods and a lower surplus in the service trade, which were partly compensated by a lower deficit on the primary income balance. The surplus in the services trade amounted to EUR 2.42 billion, down from EUR 2.56 billion in the first four months of 2017. This was mainly due to a higher deficit on the tourism segment. Romanians spent over EUR 1 billion abroad in the first four months up 20% over the same period of last year, while the inflows from tourism saw a small increase, to EUR 630 million.

The primary income balance recorded a deficit of EUR 1.45 billion, down from 1.81 billion last year as the inflows from foreign investors were higher.

editor@romania-insider.com