Romania's current account deficit, up 87% in first ten months

15 December 2017

Romania’s balance-of-payments current account recorded a deficit of EUR 5.3 billion in the first ten months of this year, up 87% over the same period in 2016, according to Romania’s National Bank (BNR).

By comparison, the current account deficit amounted to EUR 2.8 billion during the same period last year. The increase was mainly determined by higher trade deficit, which went up by EUR 2 billion compared to 2016, to EUR 9.4 billion.

The primary income balance also saw a higher deficit by EUR 300 million, amounting to EUR 4.38 billion. Meanwhile, the secondary income balance recorded a surplus lower by EUR 274 million (EUR 1.83 billion) whereas the surplus of the services balance was higher by EUR 136 million (EUR 6.64 billion).

The primary income deficit reflects the net position on cross-border employee compensations and investment income. The secondary income balance reflects other money transfers made by individuals.

The total foreign debt increased by EUR 1.39 billion between January and October this year. The long-term foreign debt reached EUR 69.5 billion at the end of October, accounting for 73.8% of the total foreign debt, down 0.1% compared to December last year. The short-term debt amounted to 24.7 billion, representing 26.2% of the total foreign debt, up 6.3% compared to the end of December last year.

UniCredit: Romania’s current account deficit up 45%

editor@romania-insider.com

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Romania's current account deficit, up 87% in first ten months

15 December 2017

Romania’s balance-of-payments current account recorded a deficit of EUR 5.3 billion in the first ten months of this year, up 87% over the same period in 2016, according to Romania’s National Bank (BNR).

By comparison, the current account deficit amounted to EUR 2.8 billion during the same period last year. The increase was mainly determined by higher trade deficit, which went up by EUR 2 billion compared to 2016, to EUR 9.4 billion.

The primary income balance also saw a higher deficit by EUR 300 million, amounting to EUR 4.38 billion. Meanwhile, the secondary income balance recorded a surplus lower by EUR 274 million (EUR 1.83 billion) whereas the surplus of the services balance was higher by EUR 136 million (EUR 6.64 billion).

The primary income deficit reflects the net position on cross-border employee compensations and investment income. The secondary income balance reflects other money transfers made by individuals.

The total foreign debt increased by EUR 1.39 billion between January and October this year. The long-term foreign debt reached EUR 69.5 billion at the end of October, accounting for 73.8% of the total foreign debt, down 0.1% compared to December last year. The short-term debt amounted to 24.7 billion, representing 26.2% of the total foreign debt, up 6.3% compared to the end of December last year.

UniCredit: Romania’s current account deficit up 45%

editor@romania-insider.com

Normal
 

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