Romania’s current account deficit almost halved in the first nine months of this year compared to the same period of 2014, as the higher commercial deficit was compensated by higher surpluses on the services segment and on the secondary revenues segment, as well as by a lower deficit on the primary revenues segment.

The current account deficit was EUR 653 million, compared to EUR 1.17 billion in the first nine months of last year, according to Romania’s National Bank (BNR).

The trade deficit was EUR 5.09 billion, up by EUR 1 billion compared to January-September 2014, while the surplus on the services side was EUR 4.77 billion, up from 4.29 billion.

The primary revenues deficit, which mainly reflects the investment flows (new investments versus profit repatriations), went down from EUR 2.65 billion in the first nine months of 2014 to EUR 2.31 billion. By comparison, the secondary revenues surplus, which includes the cash transfers made by Romanians abroad into the country went up from EUR 1.26 billion to EUR 1.98 billion.

Romania’s external debt declined by about EUR 4.5 billion in the first nine months, reaching EUR 89.3 billion at the end of September. The long-term debt went down by EUR 5.2 billion, to EUR 69.6 billion.

editor@romania-insider.com