In January – February 2019, the balance-of-payments current account posted a deficit of EUR 568 million, compared with EUR 425 million in January – February 2018. The deficit on trade in goods widened by EUR 671 million, the surplus on services income increased by EUR 122 million, the primary income balance recorded a surplus of EUR 94 million compared to a deficit of EUR 117 million, and the surplus of the secondary income balance increased by EUR 195 million, a release posted on the website of the National Bank of Romania (BNR) reads.
Non-residents’ direct investment in Romania totalled EUR 1,036 million (compared with EUR 704 million in January – February 2018), of which equity (including estimated net reinvestment of earnings) amounted to EUR 927 million and intercompany lending recorded a net value of EUR 109 million.
In February 2019, total external debt increased by EUR 193 million, of which:
- long-term external debt at end-February 2019 stood at EUR 68,252 million (68.5 percent of total external debt), up 0.4 percent from end-2018;
- short-term external debt at end-February 2019 amounted to EUR 31,358 million (31.5 percent of total external debt), down 0.3 percent against end-2018
Long-term external debt service ratio ran at 12.5 percent in January – February 2019 against 21.2 percent in 2018. At end-February 2019, goods and services import cover stood at 4.8 months, as compared to 4.9 months at end-2018.
At end-February 2019, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 72.8 percent, against 74.3 percent at end-2018.