In January – March 2018, the balance-of-payments current account posted a deficit of EUR 967 million, compared with EUR 770 million in January – March 2017; the deficit on trade in goods widened by EUR 460 million, the surplus on services income narrowed by EUR 94 million, the deficit of the primary income balance contracted by EUR 328 million, and the surplus of the secondary income balance increased by EUR 29 million, the National Bank of Romania (BNR) informs in a release posted on its website.
Non-residents’ direct investment in Romania totalled EUR 1,378 million (compared with EUR 1,137 million in January – March 2017), of which equity (including estimated net reinvestment of earnings) amounted to EUR 1,606 million and intercompany lending recorded a negative net value of EUR 228 million.
In January – March 2018, total external debt increased by EUR 2,050 million, of which:
- long-term external debt at end-March 2018 stood at EUR 69,598 million (72.9 percent of total external debt), up 1.4 percent from end-2017;
- short-term external debt at end-March 2018 amounted to EUR 25,929 million (27.1 percent of total external debt), up 4.3 percent against end-2017.
Long-term external debt service ratio ran at 14.2 percent in January – March 2018 against 23.9 percent in 2017. At end-March 2018, goods and services import cover stood at 5.4 months, a level similar to that of end-2017.
At end- March 2018, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 84.8 percent, against 87.2 percent at end-2017, BNR informs.