Balance of Payments in January 2007
16.03.2007
In January 2007, the balance-of-payments current account posted a deficit of EUR 766 million. This development can be ascribed mainly to the wider trade deficit, which amounted to EUR 829 million, up 83 percent from the same-year ago period, with imports outpacing exports (25.4 percent and 10.7 percent respectively).
- EUR million -
| |
January 2006* |
January 2007** |
| CREDIT
| DEBIT
| NET
| CREDIT
| DEBIT
| NET |
| CURRENT ACCOUNT (A+B+C)
| 2,648
| 2,940
| -292
| 3,125
| 3,891
| -766
|
| A. Goods and services
| 2,179
| 2,554
| -375
| 2,440
| 3,252
| -812
|
| a. Goods (exports fob - imports fob)
| 1,775
| 2,228
| -453
| 1,965
| 2,794
| -829
|
| b. Services
| 404
| 326
| 78
| 475
| 458
| 17
|
| - transport
| 116
| 118
| -2
| 108
| 142
| -34
|
| - tourism - travel
| 47
| 50
| -3
| 54
| 73
| -19
|
| - other
| 241
| 158
| 83
| 313
| 243
| 70
|
| B. Incomes
| 121
| 347
| -226
| 172
| 496
| -324
|
| C. Current transfers
| 348
| 39
| 309
| 513
| 143
| 370 |
* revised data
** provisional data
Current account deficit was covered up to 51.4 percent by inflows from foreign direct investment worth EUR 394 million in January 2007. Equity stakes and reinvested earnings made-up two-thirds of the total figure, with intra-group loans1 accounting for the remainder.
Medium- and long-term external debt2 at end-January 2007 added 0.2 percent against end-2006 to EUR 27,892 million.
Public and publicly guaranteed external debt at end-January 2007 amounted to EUR 10,758 million, accounting for 38.6 percent of medium- and long-term debt, a similar figure to that recorded at end-2006.
Non-publicly guaranteed external debt came in at EUR 16,167 million, growing 0.4 percent from end-2006.
Romania's medium- and long-term external debt at end-January 2007 and external debt service in January 2007
- EUR million -
| |
Medium- and long-term external debt |
External debt service in January 2007p |
| Balance at 31/12/2006r |
Balance at 31/01/2007p |
| 1. PUBLIC DEBTa) |
6,984
| 6,999
| 70
|
2. PUBLICLY GUARANTEED DEBTa),
of which: |
3,767
| 3,759
| 53
|
| - public sector
| 3,585
| 3,577
| 52
|
| - private sectorb)
| 182
| 182
| 1
|
3. NON-PUBLICLY GUARANTEED DEBT,
of which: |
16,106
| 16,167
| 151
|
| - public sector
| 579
| 587
| 1
|
| - private sectorb)
| 15,527
| 15,580
| 150
|
| 4. External debt (1+2+3) (loans, borrowings and the like) |
26,857
| 26,925
| 274
|
| 5. Medium- and long-term deposits of non-residents |
966
| 967
| 4e
|
| Total external debt (4+5) |
27,823
| 27,892
| 278 |
r - rectified data
p - provisional data
e - 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 January, import cover4 rose to 7.2 months from 6.4 months at year-end 2006.
Notes:
- Loans between the foreign investor and the resident firm.
- 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