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BNR: Balance of payments and external debt – June 2019

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According to BNR ( Central Bank) data, in January - June 2019p, the balance-of-payments current account posted a deficit of EUR 5,135 million, compared with EUR 3,717 million in January - June 2018. The deficit on trade in goods widened by EUR 1,486 million, the surplus on services income increased by EUR 104 million, the deficit of the primary income balance narrowed by EUR 204 million, and the surplus of the secondary income balance decreased by EUR 240 million.

Non-residents' direct investment in Romaniae totalled EUR 2,322 million (compared with EUR 1,783 million in January - June 2018), of which equity (including estimated net reinvestment of earnings) amounted to EUR 1,762 million and intercompany lending recorded a net value of EUR 560 million.

In January - June 2019, total external debt increased by EUR 4,254 million, of which:

  • long-term external debt at end-June 2019 stood at EUR 70,361 million (67.9 percent of total external debt), up 3.5 percent against end-2018;

  • short-term external debt at end-June 2019 amounted to EUR 33,310 million (32.1 percent of total external debt), up 5.9 percent from end-2018.

Long-term external debt service ratio ran at 19.2 percent in January - June 2019 against 21.2 percent in 2018. At end-June 2019, goods and services import cover stood at 4.6 months, as compared to 4.9 months at end-2018.

At end- June 2019, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 73 percent, against 74.3 percent at end-2018.

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