Romania's current account records EUR 416 mln surplus

Romania’s current account on the balance of payments recorded a surplus of EUR 416 million in January this year. By comparison, the current account saw a surplus of EUR 211 million in January last year, according to data published yesterday by Romania’s National Bank (BNR). The trade balance reached a deficit of EUR 598 million, higher by EUR 226 million than in January last year. The secondary income balance, which includes individual money transfers, recorded a deficit of EUR 23 million, lower by EUR 100 million compared to January 2016. The services trade had a surplus of EUR 592 million, up EUR 17 million year-on-year. The primary income balance, which mainly includes the foreign capital inflows and the dividends repatriated by foreign investors, recorded a surplus of EUR 399 million compared to a deficit of EUR 115 million in January 2016. Romania's total external debt decreased by EUR 369 million in January, to EUR 92.16 billion, as the public debt dropped by EUR 416 million. The long-term external debt fell to EUR 68.4 billion at the end of January, down 0.9% over the end of December. The short-term external debt recorded the level of EUR 23.6 billion in January, up 1.2% compared to the end of December. Romania’s current account deficit doubles in 2016 editor@romania-insider.com