Balance of Payments in First Quarter 2006
23.05.2006
In 2006 Q1, the balance-of-payments current account posted a deficit of EUR 1,564 million, up 59.6 percent against the same year-ago period, largely on the back of a wider trade deficit.
- EUR mill. -
| |
2005 Q1* |
2006 Q1** |
| CREDIT
| DEBIT
| NET
| CREDIT
| DEBIT
| NET |
| CURRENT ACCOUNT (A+B+C)
| 6,995
| 7,975
| -980
| 8,610
| 10,174
| -1,564
|
| A. Goods and services
| 5,885
| 7,065
| -1,180
| 7,354
| 9,037
| -1,683
|
|---|
| a. Goods (exports fob - imports fob)
| 5,095
| 6,156
| -1,061
| 6,213
| 7,907
| -1,694
|
|---|
| b. Services
| 790
| 909
| -119
| 1,141
| 1,130
| 11
|
|---|
| - transport
| 246
| 318
| -72
| 340
| 406
| -66
|
|---|
| - tourism - travel
| 128
| 109
| 19
| 158
| 155
| 3
|
|---|
| - other
| 416
| 482
| -66
| 643
| 569
| 74
|
|---|
| B. Incomes
| 233
| 794
| -561
| 357
| 991
| -634
|
|---|
| C. Current transfers
| 877
| 116
| 761
| 899
| 146
| 753
|
|---|
* rectified data
** provisional data
Current account deficit was fully covered from inflows of foreign direct investment amounting to EUR 1.7 billion compared with EUR 0.7 billion in 2005 Q1.
Medium- and long-term external debt1
at end-March 2006 ran at EUR 24,716 million, 0.7 percent higher than at end-2005.
Public and publicly guaranteed external debt came in at EUR 11,187 million at end-March 2006, accounting for 45.3 percent of medium- and long-term debt against 46 percent at end-2005.
Non-publicly guaranteed external debt totted up to EUR 12,686 million in 2006 Q1, up 3.1 percent from end-2005.
Romania's medium- and long-term external debt at end-March 2006
and external debt service in 2006 Q1
- EUR mill., provisional data -
| |
Medium - and long-term external debt |
External debt service |
|---|
| Balance as at 31/12/2005* |
Balance as at 31/03/2006** |
2006 Q1** |
| I. PUBLIC DEBTa) |
6,957
| 6,938
| 131
|
|---|
II. PUBLICLY GUARANTEED DEBTa),
of which:
|
4,343
| 4,249
| 182
|
|---|
| - public sector
| 4,131
| 4,047
| 173
|
|---|
| - private sectorb)
| 212
| 202
| 9
|
|---|
III. NON-PUBLICLY GUARANTEED DEBT,
of which:
|
12,302
| 12,686
| 797
|
|---|
| - public sector
| 560
| 563
| 7
|
|---|
| - private sectorb)
| 11,742
| 12,123
| 790
|
|---|
| Total external debt resulting from medium- and long-term loans |
23,602
| 23,873
| 1,110
|
|---|
| Medium- and long-term deposits of non-residents |
949
| 843
| 130***
|
|---|
| Total medium- and long-term external debt |
24,551
| 24,716
| 1,240
|
|---|
* rectified data
** provisional data
*** estimates
a) loans taken or guaranteed by the Ministry of Public Finance in compliance with Public Debt Act
b) financial and non-financial entities with majority private capital
In 2006 Q1, medium- and long-term external debt service ratio2 stood at 16.9 percent against 18.2 percent at end-2005.
At end-March 2006,
import cover3 rose to 6.6 months versus 6.4 months at end-2005.
Notes:
- External debt balance is subject to monthly revision.
- Medium- and long-term external debt service ratio is computed as a ratio of medium- and long-term external debt service to exports of goods and services.
- Import cover is computed as a ratio of official reserves of the NBR (foreign exchange + gold) at end of period to average monthly imports of goods and services for the period under review.