Romania’s current account deficit tripled in the first 11 months of 2016 to EUR 3.44 bln

Newsroom 13/01/2017 | 15:42

Romania’s current account deficit tripled in the first 11 months of 2016 to EUR 3.44 billion, especially due to the strong increase of the repatriated dividends by the foreign firms, according to the National Bank of Romania (BNR) published on Friday.

After the first 11 months of 2015, the current account deficit was EUR 1.237 billion, shows the revised data of BNR.

The current account of payments balance includes inflows and outflows in and from Romania in the trade relations with the other states.

The main component that contributes to the current account deficit is the external commerce, strongly in deficit

The official statistics published this week shows that the commercial deficit (FOB/CIF) from the last 11 months of 2016 was EUR 8.77 billion, higher by 21.9 percent than the same period of 2015.

As a result, the goods balance that goes in the current account of the payments balance accelerated its decrease this year.

Thus, the trade deficit within the current account (calculated FOB/FOB) went up by 23.9 percent in the first 11 months from 2016 up to EUR 8.25 billion, compared with the same period of 2015.

The primary incomes balance, that includes especially the repatriated dividends by the foreign investors registered a deficit of EUR 4.4 billion in the first 11 months of 2016.

Georgiana Bendre