In January-December 2017, the balance-of-payments current account posted a deficit of EUR 6,464 million, compared with EUR 3,498 million in January–December 2016; the deficit on trade in goods and that on primary income widened by EUR 2,774 million and EUR 566 million respectively, while the surplus on services and that on secondary income increased by EUR 239 million and EUR 135 million respectively, the National Bank of Romania (BNR) informed on Tuesday.
Non-residents’ direct investment in Romania totalled EUR 4,586 million (compared with EUR 4,517 million in January – December 2016), of which equity (including estimated net reinvestment of earnings) amounted to EUR 3,822 million and intercompany lending recorded a net value of EUR 764 million.
In January – December 2017, total external debt increased by EUR 1,044 million, of which: –
Long-term external debt at end-December 2017 stood at EUR 68,754 million (73.2 percent of total external debt), down 1.3 percent from end-2016; – Short-term external debt at end-December 2017 amounted to EUR 25,200 million (26.8 percent of total external debt), up 8.3 percent against end-2016.
Long-term external debt service ratio ran at 20.4 percent in January – December 2017 against 30.0 percent in 2016. At end-December 2017, goods and services import cover stood at 5.4 months, as compared to 6.3 months at end-2016.
At end-December 2017, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 86.4 percent, against 90.5 percent at end-2016.