Balance of Payments in January - May 2006
24.07.2006
January through May 2006, the balance-of-payments current account posted a deficit of EUR 3,336 million, up 53.2 percent against the same year-ago period, largely due to a wider trade deficit.
- EUR million -
| |
1.01-31.05.2005r |
1.01-31.05.2006p |
| CREDIT
| DEBIT
| NET
| CREDIT
| DEBIT
| NET |
| CURRENT ACCOUNT (A+B+C)
| 12,055
| 14,233
| -2,178
| 14,573
| 17,909
| -3,336
|
| A. Goods and services
| 10,063
| 12,581
| -2,518
| 12,415
| 15,875
| -3,460
|
|---|
| a. Goods (exports fob - imports fob)
| 8,663
| 10,983
| -2,320
| 10,379
| 13,860
| -3,481
|
|---|
| b. Services
| 1,400
| 1,598
| -198
| 2,036
| 2,015
| 21
|
|---|
| - transport
| 420
| 566
| -146
| 575
| 714
| -139
|
|---|
| - tourism - travel
| 245
| 206
| 39
| 307
| 305
| 2
|
|---|
| - other
| 735
| 826
| -91
| 1,154
| 996
| 158
|
|---|
| B. Incomes
| 405
| 1,454
| -1,049
| 603
| 1,735
| -1,132
|
|---|
| C. Current transfers
| 1,587
| 198
| 1,389
| 1,555
| 299
| 1,256
|
|---|
r - rectified data
p - provisional data
Some 85.7 percent of the current account deficit were covered by inflows from foreign direct investment worth EUR 2.9 billion in the first five months of 2006, compared with EUR 1.5 billion January through May 2005.
Medium- and long-term external debt1
at end-May 2006 amounted to EUR 24,787 million, up 0.9 percent against end-2005.
Public and publicly guaranteed external debt at end-May 2006 totalled EUR 10,957 million, accounting for 44.2 percent of medium- and long-term debt, compared with 45.9 percent at end-2005.
Non-publicly guaranteed external debt came in at EUR 12,976 million, rising 5.2 percent from end-2005.
Romania's medium- and long-term external debt at end-May 2006
and external debt service in January through May 2006
- EUR million -
| |
Medium - and long-term external debt |
External debt service |
|---|
| Balance at 31/12/2005r |
Balance at 31/05/2006p |
1/01-31/05/2006p |
| 1. PUBLIC DEBTa) |
6,935
| 6,824
| 267
|
|---|
2. PUBLICLY GUARANTEED DEBTa),
of which:
|
4,345
| 4,133
| 252
|
|---|
| - public sector
| 4,133
| 3,941
| 236
|
|---|
| - private sectorb)
| 212
| 192
| 16
|
|---|
3. NON-PUBLICLY GUARANTEED DEBT,
of which:
|
12,339
| 12,976
| 1,337
|
|---|
| - public sector
| 560
| 525
| 38
|
|---|
| - private sectorb)
| 11,779
| 12,451
| 1,299
|
|---|
| 4. External debt (1+2+3) (loans/borrowings and the like) |
23,619
| 23,933
| 1,856
|
|---|
| 5. Medium- and long-term deposits of non-residents |
949
| 854
| 151e
|
|---|
| Total external debt (4+5) |
24,568
| 24,787
| 2,007
|
|---|
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 May 2006, medium- and long-term external debt service ratio2 ran at 16.2 percent, compared to 18.2 percent in 2005.
At end-May 2006,
import cover3 stood at 6.3 months versus 6.4 months at year end-2005.
Notes:
- External debt balance is subject to monthly revision.
- 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.
- 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.