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BNR: Balance of payments and external debt – December 2018
In January - December 2018p, the balance-of-payments current account posted a deficit of EUR 9,416 million, compared with EUR 5,970 million in January – December 2017, the central bank (BNR) says. The deficit on trade in goods widened by EUR 2,628 million, the surplus on services income narrowed by EUR 102 million, the deficit of the primary income balance increased by EUR 322 million, and the surplus of the secondary income balance decreased by EUR 394 million.
Non-residents' direct investment in Romania
totalled EUR 4,936 million (compared with EUR 4,797 million in January – December 2017), of which equity (including estimated net reinvestment of earnings) amounted to EUR 4,042 million and intercompany lending recorded a net value of EUR 894 million.
In January – December 2018, total external debt increased by EUR 1,115 million, of which:
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long-term external debt at end-December 2018 stood at EUR 67,219 million (68.3 percent of total external debt), down 1.9 percent from end-2017;
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short-term external debt at end-December 2018 amounted to EUR 31,257 million (31.7 percent of total external debt), up 8.4 percent against end-2017.
Long-term external debt service ratio at 20.7 percent in January - December 2018 against 25 percent in 2017. At end-2018, goods and services import cover stood at 4.9 months, as compared to 5.4 months at end-2017.
At end- 2018, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 74.6 percent, against 79 percent at end-2017.