Balance of Payments in January - March 2005
25.05.2005
In 2005 Q1, the balance-of-payments current account exhibited a deficit of EUR 899 million, widening by 85.7 percent year on year.
- EUR mill. -
| |
2004 Q1* |
2005 Q1* |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 5,615
| 6,099
| -484
| 6,725
| 7,624
| -899
|
| A. Goods and services
| 4,953
| 5,673
| -720
| 5,868
| 7,040
| -1,172
|
| a. Goods (exports fob - imports fob)
| 4,336
| 5,061
| -725
| 5,091
| 6,131
| -1,040
|
| b. Services
| 617
| 612
| 5
| 777
| 909
| -132
|
| - transport
| 286
| 254
| 32
| 242
| 318
| -76
|
| - tourism - travel
| 85
| 95
| -10
| 127
| 112
| 15
|
| - other
| 246
| 263
| -17
| 408
| 479
| -71
|
| B. Incomes
| 70
| 334
| -264
| 142
| 467
| -325
|
| C. Current transfers
| 592
| 92
| 500
| 715
| 117
| 598 |
* provisional data
Medium- and long-term external debt1, at end-March 2005 amounted to EUR 20,456 million, up 13 percent against end-December 2004.
Public and publicly guaranteed external debt came in at EUR 10,649 million at end-March 2005, accounting for 52.1 percent of medium- and long-term external debt as compared to 55.5 percent at end-December 2004. Non-publicly guaranteed external debt equalled EUR 8,844 million at end-March 2005, up 15 percent against end-December 2004.The balance of medium- and long-term deposits of non-residents in Romania stood at EUR 963 million, i.e. 2.5 times higher than at end-December 2004.
Romania's medium- and long-term external debt at end-March 2005 and external debt service in 2005 Q1
- EUR mill., provisional data -
| |
Medium- and long-term external debt |
External debt service |
| Balance as of 31.12.2004 |
Balance as of 31.03.2005
| 2005 Q1 |
| I. PUBLIC DEBTa) |
6,369
| 6,627
| 110
|
II. PUBLICLY GUARANTEED DEBTa),
of which:
|
3,667
| 4,022
| 194
|
| - public sector
| 3,485
| 3,846
| 185
|
| - private sectorb)
| 182
| 176
| 9
|
III. NON-PUBLICLY GUARANTEED DEBT
of which:
|
7,687
| 8,844
| 335
|
| - public sector
| 381
| 414
| 9
|
| - private sectorb)
| 7,306
| 8,430
| 326
|
| Total external debt from medium- and long-term loans |
17,723
| 19,493
| 639
|
| Medium- and long-term deposits of non-residentsc) |
376
| 963
| 5*
|
| Total medium- and long-term external debt |
18,099
| 20,456
| 644 |
* estimates
a) loans taken or guaranteed by the MoPF in compliance with Public Debt Act
b)financial and non-financial entities with majority private capital
c)the balance of medium- and long-term deposits of foreign banks with resident banks
In 2005 Q1, external debt service ratio2 stood at 33 percent as compared to 21.9 percent in 2004.
At end-March 2005, import cover3 rose to 5.8 months of imports against 5.2 months of imports at end-December 2004.
Notes:
- External debt balance is subject to monthly revision.
- External debt service ratio is computed as a ratio of 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.