In the first two months of 2018, the balance-of-payments current account posted a deficit of EUR 172 million, compared with EUR 72 million in January – February 2017, National Bank of Romania (BNR) informs in a press release.
The deficit on trade in goods widened by EUR 434 million, the surplus on services and that on secondary income narrowed by EUR 6 million and EUR 2 million respectively, while the primary income balance recorded a surplus of EUR 170 million, compared with a deficit of EUR 172 million.
The same central bank data show that non-residents’ direct investment (FDI) in Romania totalled EUR 794 million (compared with EUR 820 million in January – February 2017, down by 3.17 percent), of which equity (including estimated net reinvestment of earnings) amounted to EUR 592 million and intercompany lending recorded a net value of EUR 202 million.
In January – February 2018, total external debt increased by EUR 1 558 million, of which: long-term external debt at end-February 2018 stood at EUR 69,503 million (73.1 percent of total external debt), up 1.3 percent from end-2017; short-term external debt at end-February 2018 amounted to EUR 25,532 million (26.9 percent of total external debt), up 2.7 percent against end-2017.
Long-term external debt service ratio ran at 13.5 percent in January – February 2018 against 23.9 percent in 2017. At end-February 2018, goods and services import cover stood at 5.7 months, as compared to 5.4 months at end-2017.
At end-February 2018, the ratio of the BNR’s foreign exchange reserves to short-term external debt by remaining maturity came in at 87 percent, against 87.2 percent at end-2017.