Balance of Payments in January - May 2004
21.07.2004
During the first five months of 2004, the balance of payments current account posted a deficit of EUR 1,130 million, rising 16.4 percent year on year.
- EUR mill. -
| |
1 January – 31 May 2003
|
1 January – 31 May 2004
|
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
|
8,009
|
8,980
|
-971
|
9,433
|
10,563
|
-1,130
|
|---|
| A. Goods and services
|
7,199
|
8,435
|
-1,236
|
8,436
|
10,036
|
-1.600
|
|---|
| a. Goods (exports fob - imports fob)
|
6,232
|
7,444
|
-1,212
|
7,380
|
8,947
|
-1,567
|
|---|
| b. Services |
967
|
991
|
-24
|
1,056
|
1,089
|
-33
|
|---|
| - transport |
398
|
366
|
32
|
481
|
444
|
37
|
|---|
| - tourism-travel |
129
|
144
|
-15
|
148
|
175
|
-27
|
|---|
| - other |
440
|
481
|
-41
|
427
|
470
|
-43
|
|---|
| B. Incomes
|
135
|
421
|
-286
|
121
|
391
|
-270
|
|---|
| C. Current transfers |
675
|
124
|
551
|
876
|
136
|
740
|
|---|
At end-
May 2004
,
medium- and long-term external debt totalled EUR 16,080
million, up 3.7
percent compared to end-2003.
Public and publicly guaranteed external debt amounted to EUR
9,840
million at end-
May
2004, accounting for 61.2 percent of medium- and long-term debt against
62.3
percent at end-2003. Private external debt crept up
6.8
percent from end-2003 to EUR
6,240 million.
Romania's medium- and long-term external debt at end-
May
2004 (by debtor)
and debt service during the January to
May
2004 period
- EUR mill. -
| Type of debt |
Balance at 31.12.2003
|
Balance at 31.05.2004*
| Debt service
1.01-31.05.2004*
|
|---|
| I. PUBLIC DEBT |
6,470
|
6,500
|
290
|
|---|
| II. PUBLICLY GUARANTEED DEBT |
3,199
|
3,340
|
469
|
|---|
| III. PRIVATE DEBT |
5,843
|
6,240
|
522
|
|---|
| TOTAL EXTERNAL DEBT |
15,512
|
16,080
|
1,281
|
|---|
* provisional data
At end-March external debt service ratio
stood at 18.4 percent against 20.6 percent at end-2003.
At end-May 2004,
import cover was 4.1 months, similar to that recorded 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.