1. NBR
  2. Press releases
  3. Balance of Payments in January - June 2006

Comunicat de presă


Balance of Payments in January - June 2006

22.08.2006

In 2006 H1, the balance-of-payments current account posted a deficit of EUR 4,170 million, up 40.2 percent against the same year-ago period, largely due to a wider trade deficit.

- EUR million -
  2005 H1* 2006 H1**
CREDIT DEBIT NET CREDIT DEBIT NET
CURRENT ACCOUNT (A+B+C) 14,638 17,613 -2,975 17,870 22,040 -4,170
A. Goods and services 12,294 15,569 -3,275 15,211 19,502 -4,291
  a. Goods (exports fob - imports fob) 10,527 13,605 -3,078 12,668 17,053 -4,385
  b. Services 1,767 1,964 -197 2,543 2,449 94
        - transport 531 710 -179 743 870 -127
        - tourism - travel 319 275 44 391 381 10
        - other 917 979 -62 1,409 1,198 211
B. Incomes 521 1,813 -1,292 747 2,184 -1,437
C. Current transfers 1,823 231 1,592 1,912 354 1,558

* rectified data

** provisional data

Some 77.8 percent of the current account deficit were covered by inflows from foreign direct investment worth EUR 3.2 billion in the first half of 2006, compared with EUR 2.1 billion in 2005 H1.

Medium- and long-term external debt1 at end-June 2006 amounted to EUR 25,226 million, up 2.7 percent against end-2005.

Public and publicly guaranteed external debt at end-June 2006 totalled EUR 11,016 million, accounting for 43.7 percent of medium- and long-term debt, compared with 45.9 percent at end-2005.

Non-publicly guaranteed external debt came in at EUR 13,370 million, rising 8.3 percent from end-2005.

Romania's medium- and long-term external debt at 30 June 2006 and external debt service in 2006 H1
- EUR million -
  Medium - and long-term external debt External debt service
Balance at 31/12/2005r Balance at 30/06/2006p 2006 H1p
1. PUBLIC DEBTa) 6,935 6,867 415
2. PUBLICLY GUARANTEED DEBTa),
of which: 		4,348 4,149 334
- public sector 4,136 3,955 318
- private sectorb) 212 194 16
3. NON-PUBLICLY GUARANTEED DEBT,
of which: 		12,342 13,370 1,627
- public sector 560 563 43
- private sectorb) 11,782 12,807 1,584
4. External debt (1+2+3) (loans, borrowings and the like) 23,625 24,386 2,376
5. Medium- and long-term deposits of non-residents 949 840 183e
Total external debt (4+5) 24,574 25,226 2,559

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

January through June 2006, medium- and long-term external debt service ratio2 ran at 16.8 percent, compared to 18.2 percent in 2005.

At end-June 2006, import cover3 stood at 6.1 months versus 6.4 months at year end-2005.

Notes:

  1. External debt balance is subject to monthly revision.
  2. 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.
  3. 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.
T: +4031 132 2321
E: press@bnro.ro