In January – April 2019, the balance-of-payments current account posted a deficit of EUR 2,306 million, compared with EUR 1,665 million in January-April 2018. The deficit on trade in goods widened by EUR 1,273 million, the surplus on services income decreased by EUR 34 million, the deficit of the primary income balance decreased by EUR 817 million, and the surplus of the secondary income balance decreased by EUR 151 million, the National Bank of Romania (BNR) informs in a release posted on its website.
Non-residents’ direct investment in Romania totalled EUR 1,323 million (compared with EUR 1,592 million in January – April 2018), of which equity (including estimated net reinvestment of earnings) amounted to EUR 938 million and intercompany lending recorded a net value of EUR 385 million.
In April 2019, total external debt increased by EUR 3,665 million, of which:
- long-term external debt at end-April 2019 stood at EUR 69,864 million (67.8 percent of total external debt), up 2.8 percent against end-2018;
- short-term external debt at end-April 2019 amounted to EUR 33,218 million (32.2 percent of total external debt), up 5.6 percent from end-2018.
Long-term external debt service ratio ran at 16.6 percent in January – April 2019 against 21.2 percent in 2018. At end-April 2019, goods and services import cover stood at 4.8 months, as compared to 4.9 months at end-2018.
At end-April 2019, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 73.3 percent, against 74.3 percent at end-2018.