In January – March 2019, the balance-of-payments current account posted a deficit of EUR 1,212 million, compared with EUR 1,027 million in January – March 2018. The deficit on trade in goods widened by EUR 895 million, the surplus on services income decreased by EUR 112 million, the primary income balance recorded a surplus of EUR 91 million compared to a deficit of EUR 589 million, and the surplus of the secondary income balance increased by EUR 142 million, the National Bank of Romania (BNR) informs on its website on Tuesday.
Non-residents’ direct investment in Romania totalled EUR 1,243 million (compared with EUR 1,555 million in January – March 2018), of which equity (including estimated net reinvestment of earnings) amounted to EUR 854 million and intercompany lending recorded a net value of EUR 389 million.
In March 2019, total external debt increased by EUR 397 million, of which:
- long-term external debt at end-March 2019 stood at EUR 67,427 million (67.6 percent of total external debt), down 0.8 percent against end-2018;
- short-term external debt at end-March 2019 amounted to EUR 32,387 million (32.4 percent of total external debt), up 3.0 percent from end-2018.
Long-term external debt service ratio ran at 15.6 percent in January – March 2019 against 21.2 percent in 2018. At end-March 2019, goods and services import cover stood at 4.6 months, as compared to 4.9 months at end-2018.
At end- March 2019, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 70.0 percent, against 74.3 percent at end-2018, the release reads.