In January – November 2018, the balance-of-payments current account posted a deficit of EUR 8,730 million, compared with EUR 5,468 million in January – November 2017. The deficit on trade in goods widened by EUR 2,535 million, the surplus on services income narrowed by EUR 169 million. The deficit of the primary income balance increased by EUR 260 million, and the surplus of the secondary income balance decreased by EUR 298 million, a release posted on the National Bank of Romania (BNR) website reads.
Non-residents’ direct investment in Romania totalled EUR 4,842 million (compared with EUR 4,460 million in January – November 2017), of which equity (including estimated net reinvestment of earnings) amounted to EUR 3,771 million and intercompany lending recorded a net value of EUR 1,071 million.
In January – November 2018, total external debt increased by EUR 2,003 million, of which:
- long-term external debt at end-November 2018 stood at EUR 67,726 million (68.2 percent of total external debt), down 1.2 percent from end-2017;
- short-term external debt at end-November 2018 amounted to EUR 31,638 million (31.8 percent of total external debt), up 9.7 percent against end-2017.
Long-term external debt service ratio ran at 20 percent in January – November 2018 against 25 percent in 2017. At end-November 2018, goods and services import cover stood at 4.8 months, as compared to 5.4 months at end-2017.
At end-November 2018, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 72.4 percent, against 79 percent at end-2017, the BNR release concludes.