Balance of Payments in January - June 2004
02.09.2004
During the first half of 2004, the balance-of-payments current account posted a deficit of EUR 1,617 million, rising 25.3 percent year on year.
- EUR mill. -
| |
1 January - 30 June 2003 |
1 January - 30 June 2004 |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 9,710
| 11,000
| -1,290
| 11,537
| 13,154
| -1,617
|
|---|
| A. Goods and services
| 8,684
| 10,279
| -1,595
| 10,304
| 12,424
| -2,120
|
|---|
| a. Goods (exports fob - imports fob)
| 7,501
| 9,058
| -1,557
| 9,014
| 11,052
| -2,038
|
|---|
| b. Services
| 1,183
| 1,221
| -38
| 1,290
| 1,372
| -82
|
|---|
| - transport
| 491
| 456
| 35
| 586
| 549
| 37
|
|---|
| - tourism - travel
| 161
| 188
| -27
| 179
| 227
| -48
|
|---|
| - other
| 531
| 577
| -46
| 525
| 596
| -71
|
|---|
| B. Incomes
| 158
| 574
| -416
| 137
| 548
| -411
|
|---|
| C. Current transfers
| 868
| 147
| 721
| 1,096
| 182
| 914
|
|---|
At end-June 2004,
medium- and long-term external debt totalled EUR 16,515 million, 5.6 percent higher compared to end-2003.
Public and publicly guaranteed external debt amounted to EUR 9,846 million at end-June 2004, accounting for 59.6 percent of medium- and long-term debt against 61.8 percent at end-2003. External private debt increased by 11.7 percent from end-2003 to EUR 6,669 million.
Romania's medium- and long-term external debt at end-June 2004 (by debtor)
and debt service during the January through June 2004
- EUR mill. -
| Type of debt |
Balance 31.12.2003 |
Balance 30.06.2004* |
Debt service* 1.01-30.06.2004 |
|---|
| I. PUBLIC DEBT |
6,470
| 6,496
| 408
|
|---|
| II. PUBLICLY GUARANTEED DEBT |
3,201
| 3,350
| 571
|
|---|
| III. PRIVATE DEBT |
5,971
| 6,669
| 605
|
|---|
| TOTAL EXTERNAL DEBT |
15,642
| 16,515
| 1,584
|
|---|
* provisional data
At end-June 2004 external debt service ratio stood at 18.5 percent against 20.6 percent at end-2003.
At end-June 2004, import cover was 4.3 months versus 4.1 months at end-2003.
Notes:
- External debt balance is subject to monthly revision.
- External debt service ratio is computed as a ratio between medium- and long-term external debt service and exports of goods and services.
- Import cover is computed as a ratio between official reserves of the NBR (foreign exchange + gold) at the end of period and average imports of goods and services for the period under review.