Balance of Payments in January - November 2003
22.01.2004
January through November 2003, the balance-of-payments current account showed a deficit of EUR 2,499 million, up 85 percent against the same period of the previous year.
- EUR million -
| |
January - November 2002 |
January - November 2003 |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 17,863
| 19,214
| -1,351
| 18,782
| 21,281
| -2,499
|
| A. Goods and services
| 15,737
| 18,133
| -2,396
| 16,770
| 20,165
| -3,395
|
| a. Goods (exports fob - imports fob)
| 13,467
| 15,902
| -2,435
| 14,368
| 17,782
| -3,414
|
| b. Services
| 2,270
| 2,231
| 39
| 2,402
| 2,383
| 19
|
| - transport
| 938
| 806
| 132
| 970
| 904
| 66
|
| - tourism
| 323
| 377
| -54
| 355
| 431
| -76
|
| - other services
| 1,009
| 1,048
| -39
| 1,077
| 1,048
| 29
|
| B. Incomes
| 359
| 847
| -488
| 260
| 849
| -589
|
| C. Current transfers
| 1,767
| 234
| 1,533
| 1,752
| 267
| 1,485 |
Medium- and long-term external debt stepped up 4.1 percent versus end-2002 and ran at EUR 15,248 million at end-November 2003.
Public and publicly guaranteed external debt amounted to EUR 9,679 million at end-November 2003, accounting for 63.5 percent of the medium- and long-term debt against 62.7 percent at end-2002. Private external debt added 1.8 percent from end-2002 to EUR 5,569 million.
Romania's medium- and long-term debt at end-November 2003 (provisional data)
- EUR million -
| Type of debt |
Balance at 31.12.2002 |
Balance at 30.11.2003 |
Debt service 1.01-30.11.2003 |
| I. Public debt |
6,041
| 6,574
| 796
|
| II. Publicly guaranteed debt |
3,139
| 3,105
| 841
|
| III. Private debt |
5,467
| 5,569
| 1,114
|
| TOTAL EXTERNAL DEBT |
14,647
| 15,248
| 2,751 |
External debt service ratio stood at 19 percent at end-November 2003 against 24.2 percent at end-2002.
At end-November 2003, import cover was 4.2 months, unchanged from end-2002.
Notes:
- External debt balance is subject to monthly revision.
- External debt service ratio is computed as a ratio between medium- and long-term external debt service and exports of goods and services.
- Import cover is computed as a ratio between official reserves of the NBR (foreign exchange + gold) at the end of period and average imports of goods and services for the period under review.