Romania's current account deficit surpasses last year’s level

Romania’s current account deficit recorded EUR 4.19 billion in the first nine months of this year, surpassing the level for the whole year 2016. The deficit’s deepening pace slowed down compared to the previous months, as the rising imports of goods were partly offset by service exports and secondary income inflows. The current account deficit grew by EUR 148 million compared to the first eight months of this year and by EUR 1.3 billion compared to the first nine months of 2016. The balance of goods recorded a deficit of EUR 8.2 billion, up by EUR 1.7 billion compared to the first nine months of last year. On the services side, Romania recorded a surplus of EUR 5.8 billion, similar to the one recorded last year, as both exports and imports of services increased. The primary income balance, including labor income, income from direct investment, portfolio investment, or loans among banking groups, taxes and subsidies, improved compared to last year, as the deficit dropped by EUR 562 million to EUR 3.61 billion. However, the surplus of the secondary income balance decreased by EUR 210 million compared to September last year, to 1.79 billion EUR. This category includes private money transfers to and from abroad. Meanwhile, foreign direct investments amounted to EUR 3.35 billion at the end of September, up EUR 834 million compared to the end of August. editor@romania-insider.com