Balance of Payments in January - June 2005
24.08.2005
In 2005 H1, the balance-of-payments current account posted a deficit of EUR 2,705 million, up 60.1 percent year on year.
- EUR mill. -
| |
2004 H1* |
2005 H1* |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 11,754
| 13,443
| -1,689
| 14,235
| 16,940
| -2,705
|
| A. Goods and services
| 10,323
| 12,419
| -2,096
| 12,256
| 15,586
| -3,330
|
|---|
| a. Goods (exports fob - imports fob)
| 9,032
| 11,069
| -2,037
| 10,531
| 13,605
| -3,074
|
|---|
| b. Services
| 1,291
| 1,350
| -59
| 1,725
| 1,981
| -256
|
|---|
| - transport
| 587
| 549
| 38
| 522
| 712
| -190
|
|---|
| - tourism - travel
| 179
| 205
| -26
| 317
| 264
| 53
|
|---|
| - other
| 525
| 596
| -71
| 886
| 1,005
| -119
|
|---|
| B. Incomes
| 137
| 842
| -705
| 291
| 1,126
| -835
|
|---|
| C. Current transfers
| 1,294
| 182
| 1,112
| 1,688
| 228
| 1,460
|
|---|
* provisional data
Medium- and long-term external debt1,
at end-June 2005 equalled EUR 22,063 million, up 21.5 percent compared to end-2004.
Public and publicly guaranteed external debt totalled EUR 11,477 million at end-June 2005, accounting for 52 percent of medium-and long-term debt against 55.3 percent at end-2004.
Non-publicly guaranteed external debt came in at EUR 9,570 million, 23.6 percent higher from end-2004.
Romania's medium- and long-term external debt at end-June 2005 and external debt service for 2005 H1
- EUR mill., provisional data -
| |
Medium- and long-term external debt |
External debt service |
|---|
| Balance at end-2004 |
Balance at end-June 2005
| 2005 H1 |
| I. PUBLIC DEBTa) |
6,369
| 7,190
| 387
|
|---|
II. PUBLICLY GUARANTEED DEBTa),
of which:
|
3,665
| 4,287
| 397
|
|---|
| - public sector
| 3,483
| 4,113
| 382
|
|---|
| - private sectorb)
| 182
| 174
| 15
|
|---|
III. NON-PUBLICLY GUARANTEED DEBT
of which:
|
7,742
| 9,570
| 1,056
|
|---|
| - public sector
| 383
| 458
| 27
|
|---|
| - private sectorb)
| 7,359
| 9,112
| 1,029
|
|---|
| Total external debt from medium- and long-term loans |
17,776
| 21,047
| 1,840
|
|---|
| Medium- and long-term deposits of non-residents |
376
| 1,016
| 87*
|
|---|
| Total medium- and long-term external debt |
18,152
| 22,063
| 1,927
|
|---|
* 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
In 2005 H1,
external debt service ratio2 ran at 35.7 percent against 22.7 percent at end-2004.
At end-June 2005,
import cover3 rose to 5.8 months compared to 5.2 months at end-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.