Romania’s current account deficit rose 16 pct to EUR 4.8 bln in January-July; FDI up 1.7 pct to EUR 2.3 bln

Sorin Melenciuc 13/09/2018 | 13:21

Romania’s current account balance of payment registered a deficit of EUR 4.81 billion in the first seven months of this year, up 15.6 percent compared with January-July 2017, while the foreign direct investment (FDI) increased by 1.7 percent to EUR 2.31 billion, according to the National Bank of Romania (BNR).

„The deficit on trade in goods widened by EUR 999 million, the surplus on services income narrowed by EUR 255 million, the deficit of the primary income balance contracted by EUR 820 million, and the surplus of the secondary income balance decreased by EUR 215 million,” the central bank said on Thursday, 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 2.31 billion in the first seven months of 2018, compared with EUR 2.27 billion in January – July 2017, “of which equity (including estimated net reinvestment of earnings) amounted to EUR 2,179 million and intercompany lending recorded a net value of EUR 135 million,” BNR indicates.

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

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