Balance of Payments in January - November 2005
20.01.2006
January through November 2005, the balance-of-payments current account showed a deficit of EUR 6,023 million, rising 42.3 percent year on year.
- EUR mill. -
| |
January - November 2004* |
January - November 2005** |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 23,343
| 27,576
| -4,233
| 28,759
| 34,782
| -6,023
|
| A. Goods and services
| 20,002
| 24,598
| -4,596
| 23,993
| 31,029
| -7,036
|
|---|
| a. Goods (exports fob - imports fob)
| 17,404
| 21,871
| -4,467
| 20,433
| 27,174
| -6,741
|
|---|
| b. Services
| 2,598
| 2,727
| -129
| 3,560
| 3,855
| -295
|
|---|
| - transport
| 1,137
| 1,090
| 47
| 1,027
| 1,424
| -397
|
|---|
| - tourism - travel
| 376
| 401
| -25
| 766
| 616
| 150
|
|---|
| - other
| 1,085
| 1,236
| -151
| 1,767
| 1,815
| -48
|
|---|
| B. Incomes
| 294
| 2,619
| -2,325
| 1,146
| 3,321
| -2,175
|
|---|
| C. Current transfers
| 3,047
| 359
| 2,688
| 3,620
| 432
| 3,188
|
|---|
* revised data
** provisional data
Medium- and long-term external debt1,
at end-November 2005 stood at EUR 23,617 million, up 29.1 percent compared to end-2004.
Public and publicly guaranteed external debt totalled EUR 11,278 million at end-November 2005, accounting for 47.7 percent of medium- and long-term debt against 54.9 percent at end-2004.
Non-publicly guaranteed external debt amounted to EUR 11,407 million, 45 percent higher than at end-2004.
Medium- and long-term external debt at end-November 2005
and external debt service for January-November 2005
- EUR mill., provisional data -
| |
Medium - and long-term external debt |
External debt service |
|---|
| Balance at 31/12/2004 |
Balance at 30/11/2005
| January-November 2005 |
| I. PUBLIC DEBTa) |
6,370
| 6,939
| 962
|
|---|
II. PUBLICLY GUARANTEED DEBTa),
of which:
|
3,676
| 4,339
| 735
|
|---|
| - public sector
| 3,494
| 4,179
| 704
|
|---|
| - private sectorb)
| 182
| 160
| 31
|
|---|
III. NON-PUBLICLY GUARANTEED DEBT,
of which:
|
7,869
| 11,407
| 2,102
|
|---|
| - public sector
| 385
| 557
| 57
|
|---|
| - private sectorb)
| 7,484
| 10,850
| 2,045
|
|---|
| Total external debt resulting from medium- and long-term borrowings |
17,915
| 22,685
| 3,799
|
|---|
| Medium- and long-term deposits of non-residents |
376
| 932
| 234*
|
|---|
| Total medium- and long-term external debt |
18,291
| 23,617
| 4,033
|
|---|
* 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
January through November 2005,
medium-and long-term external debt service ratio2 came in at 16.8 percent versus 18.4 percent at end-2004.
At end-November 2005,
import cover3 rose to 6.4 months from 5.2 months at end-2004.
Notes:
- External debt balance is subject to monthly revision.
- 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.