Balance of Payments in the first quarter of 2004
20.05.2004
During the first quarter of 2004, the balance of payments current account posted a deficit of EUR 269 million, rising 80.5 percent year on year.
- EUR mill. -
| |
1 January - 31 March 2003 |
1 January - 31 March 2004 |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 4,848
| 4,997
| -149
| 5,529
| 5,798
| -269
|
| A. Goods and services
| 4,365
| 4,761
| -396
| 4,942
| 5,542
| -600
|
|---|
| a. Goods (exports fob - imports fob)
| 3,778
| 4,191
| -413
| 4,329
| 4,933
| -604
|
|---|
| b. Services
| 587
| 570
| 17
| 613
| 609
| 4
|
|---|
| - transport
| 251
| 211
| 40
| 286
| 252
| 34
|
|---|
| - tourism-travel
| 73
| 80
| -7
| 85
| 100
| -15
|
|---|
| - other
| 263
| 279
| -16
| 242
| 257
| -15
|
|---|
| B. Incomes
| 83
| 159
| -76
| 70
| 164
| -94
|
|---|
| C. Current transfers
| 400
| 77
| 323
| 517
| 92
| 425
|
|---|
At end-March 2004,
medium- and long-term external debt ran at EUR 15,809 million, rising by 2.8 percent compared to end-2003.
Public and publicly guaranteed external debt amounted to EUR 9,962 million at end-March 2004, accounting for 63 percent of medium- and long-term debt against 62.9 percent at end-2003. Private external debt crept up 2.4 percent from end-2003 to EUR 5,847 million.
Romania's medium- and long-term external debt at end-March 2004 (by debtor)
and debt service during the January to March 2004 period
- EUR mill. -
| Type of debt |
Balance at 31.12.2003 |
Balance at 31.03.2004* |
Debt service
1.01-31.03.2004* |
|---|
| I. PUBLIC DEBT |
6,470
| 6,524
| 120
|
|---|
| II. PUBLICLY GUARANTEED DEBT |
3,199
| 3,438
| 209
|
|---|
| III. PRIVATE DEBT |
5,710
| 5,847
| 338
|
|---|
| TOTAL EXTERNAL DEBT |
15,379
| 15,809
| 667
|
|---|
* provisional data
At end-March external debt service ratio stood at 16.6 percent against 19.9 percent at end-2003.
At end-March 2004, import cover increased to 4.3 months from 4 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.