Eurostat: The Romanian current account deficit reached EUR 0.72 bln in May

The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of EUR 10.5 billion in May 2016, compared with surpluses of EUR 12.9 billion in April 2016 and EUR 9.4 billion in May 2015, while Romania had a deficit of EUR 0.72 bln in May 2016, compared with the deficit of EUR 0.64 billion in April 2016, according to estimates from Eurostat, the statistical office of the European Union.

In May 2016, compared with April 2016, based on seasonally adjusted data, the surplus of the goods account decreased (+EUR 11.1 billion compared with +EUR 13.2 billion) and the deficit of the primary income account increased (-EUR 4.4 billion compared with -EUR 2.7 billion). The surplus of the services account grew (+EUR 10.6 billion compared with +EUR 9.8 billion) and the deficit of the secondary income account fell (-EUR 6.8 billion compared with -EUR7.4 billion).

The 12-month cumulated current account for the period ending in May 2016 recorded a surplus of EUR 142.1 billion, compared with EUR 127 billion for the 12 months to May 2015. The surplus of the goods account for the same period increased (+EUR 129.5 billion compared with +EUR 51.5 billion), while the surplus of the services account fell (+EUR 137.2 billion compared with +EUR 149.4 billion). The deficit of the secondary income account increased (-EUR 80.3 billion compared with -EUR 76.7 billion) and the surplus of the primary income account moved into deficit (-EUR 44.4 billion compared with +EUR 2.9 billion).

The current account comprises all transactions between resident and non-resident entities, and refers to international trade in goods and services, as well as primary and secondary income.

Georgiana Bendre