Romania’s current account deficit rose 16 pct to EUR 3.02 bln in Jan-May; FDI up 18 pct to EUR 1.72 bln

Romania’s current account balance of payment registered a deficit of EUR 3.02 billion in the first five months of this year, up 15.8 percent compared with January-May 2017, while the foreign direct investment (FDI) increased by 17.6 percent to EUR 1.72 billion, according to the National Bank of Romania (BNR).

„The deficit on trade in goods widened by EUR 589 million, the surplus on services income narrowed by EUR 179 million, the deficit of the primary income balance contracted by EUR 105 million, and the surplus of the secondary income balance increased by EUR 251 million,” the central bank said on Monday, in a press release.

Last year, the current account balance of payments registered a deficit of EUR 6.46 billion, or 3.4 percent of GDP.

On the other hand, non-residents’ direct investment in Romania totalled EUR 1.72 billion in the first five months of 2018, compared with EUR 1.462 million in January – May 2017, “of which equity (including estimated net reinvestment of earnings) amounted to EUR 2,208 million and intercompany lending recorded a negative net value of EUR 488 million,” BNR indicates.

Foreign direct investment in Romania rose by 1.5 percent last year, to EUR 4.586 billion.

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