Balance of Payments in January - November 2000
24.01.2001
In the first eleven months of 2000, the current account recorded a
USD 751 million deficit, 24.5 percent lower year on year. Behind this development
stood the following factors: (i) the 24.1 percent widening of the trade deficit,
(ii) the 31.4 percent drop in the services deficit, (iii) the 21.3 percent fall
in the incomes deficit, and (iv) the 52.7 percent increase in the surplus under
current transfers.
- million USD -
|
|
1999 (January - November)
|
2000 (January - November) |
| CREDIT
| DEBIT
| BALANCE
| CREDIT
| DEBIT
| BALANCE |
| CURRENT ACCOUNT (A+B+C)
| 9,895
| 10,890
| -995
| 12,359
| 13,110
| -751
|
| A. Goods and Services
| 9,007
| 10,165
| -1,158
| 11,119
| 12,404
| -1,285
|
| a. Goods (exports fob - imports fob)
| 7,719
| 8,603
| -884
| 9,529
| 10,626
| -1,097
|
| b. Services
| 1,288
| 1,562
| -274
| 1,590
| 1,778
| -188
|
| - Transportation
| 490
| 476
| 14
| 592
| 575
| 17
|
| - Tourism
| 235
| 347
| -112
| 334
| 382
| -48
|
| - Other services
| 563
| 739
| -176
| 664
| 821
| -157
|
| B. Incomes
| 135
| 520
| -385
| 212
| 515
| -303
|
| C. Current transfers
| 753
| 205
| 548
| 1,028
| 191
| 837
|
During January - November 2000, Romania's external debt
posted a 5 percent increase to USD 9,507 million at end-November. In the same period,
the medium- and long term debt rose by 5.6 percent to
USD 9,162 million, whereas short-term debt fell by 10.5 percent to USD 345 million.
The USD 273 million rise in medium- and long-term debt in November was due mainly to
the launch of the second Eurobond issue (worth EUR 150 million) in 2000 and to a loan
taken by "Termoelectrica" from a private bank and guaranteed by the Romanian government.
Public and publicly guaranteed debt as of 30 November 2000 stood at USD 6,556
million, accounting for 71.6 percent of the medium- and long-term debt (against 71.3
percent on 31 December 1999). In the first eleven months of the year, private debt rose
by 4.6 percent to reach USD 2,606 million at end-November 2000.
Debt service ratio (computed as a ratio between external debt service and
exports of goods and services) was 17.5 percent as of 30 November 2000 compared with 35.9 percent at end-1999.