Balance of Payments in 2004
21.02.2005
In 2004, the balance-of-payments current account showed a deficit of EUR 4,402 million, rising 43.9 percent year on year.
- EUR mill. -
| |
2003 |
2004* |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 20,940
| 24,000
| -3,060
| 25,055
| 29,457
| -4,402
|
| A. Goods and services
| 18,285
| 22,178
| -3,893
| 21,838
| 27,374
| -5,536
|
|---|
| a. Goods (exports fob - imports fob)
| 15,614
| 19,569
| -3,955
| 18,935
| 24,258
| -5,323
|
|---|
| b. Services
| 2,671
| 2,609
| 62
| 2,903
| 3,116
| -213
|
|---|
| - transport
| 1,063
| 997
| 66
| 1,252
| 1,206
| 46
|
|---|
| - tourism - travel
| 396
| 423
| -27
| 406
| 434
| -28
|
|---|
| - other
| 1,212
| 1,189
| 23
| 1,245
| 1,476
| -231
|
|---|
| B. Incomes
| 327
| 1,522
| -1,195
| 326
| 1,689
| -1,363
|
|---|
| C. Current transfers
| 2,328
| 300
| 2,028
| 2,891
| 394
| 2,497
|
|---|
* provisional data
Medium- and long-term external debt1,
at end-2004 equalled EUR 17,547 million, 11.9 percent higher than at end-2003.
Public and publicly guaranteed external debt totalled EUR 10,025 million at end-2004, accounting for 57.1 percent of medium- and long-term debt compared with 61.7 percent at end-2003. Non-publicly guaranteed external debt came in at EUR 7,522 million, up 25.3 percent compared with end-2003.
Romania's medium- and long-term external debt* at end-2004
and external debt service for 2004
- EUR mill., provisional data -
| |
Medium- and long-term external debt |
Debt service |
|---|
| Balance at 31/12/2003 |
Balance at 31/12/2004
| 2004 |
| I. PUBLIC DEBT** |
6,470
| 6,359
| 825
|
|---|
II. PUBLICLY GUARANTEED DEBT***,
of which: |
3,210
| 3,666
| 1,015
|
|---|
| - public sector
| 2,950
| 3,455
| 954
|
|---|
| - private sector
| 260
| 211
| 61
|
|---|
| III. NON-PUBLICLY GUARANTEED DEBTof which:
|
6,003
| 7,522
| 1,988
|
|---|
| - public sector
| 437
| 330
| 73
|
|---|
| - private sector
| 5,566
| 7,192
| 1,915
|
|---|
| TOTAL EXTERNAL DEBT |
15,683
| 17,547
| 3,828
|
|---|
* external debt resulting from external loans and borrowings, bonds a.s.o.
** loans taken in compliance with Public Debt Act
***loans guaranteed in compliance with Public Debt Act
In 2004,
external debt service ratio2 ran at 21.9 percent compared with 20.6 percent in 2003.
At end-2004,
import cover3 rose to 5.2 months against 4.1 months at end-2003.
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.