Report on Romania鈥檚 International Balance of Payment and Foreign Debts in January-June 2019
I. International Balance of Payment
1. Current Account
The statistics released by the BNR showthat in January-June 2019, the current account deficit was 5.135 billion euros,with an increase of 38.1% year on year (see table 1)
Table 1錛 /span>Romania鈥檚 International Balance of Payment (Current Account) in January-June2019
Unit: million euros
Current account錛 /span>A+B+C錛 /span>
A. Goods + services
a. Goods錛 /span>FOB export錛 /span>FOB import錛 /span>**
-Processing trade service
錛 /span>Other services
B. Major income (including salary, investment income and other income)
C錛 /span>Secondary income錛 /span>including private and government transfer of account錛 /span>
**data sources: INS---international tradein goods; the FOB import was calculated by using the CIF/FOB conversion ratio1.0430 set by the INS
The statistics in table 1 show that inJanuary-June 2019, Romania鈥檚 total deficit of trade in goods and services was 3.542billion euros, with an increase of 64.0% year on year. Among these, the deficitof trade in goods was 7.570 billion euros, with an increase of 24.4%, and thesurplus of trade in services was 4.028 billion euros, with an increase of 2.7%.
In terms of the industries of trade inservices: the surplus of processing trade service was 1.403 billion euros, withan increase of 7.8% year on year; that of transportation industry was 2.075billion euros, with an increase of 13.9% year on year; the deficit of tourismwas 852 million euros, with an increase of 34.4% year on year, and the surplusof other service industries was 1.402 billion euros, with a decrease of 2.2%year on year.
The deficit of the major income was 2.386billion euros, with a decrease of 7.9% year on year. The surplus of thesecondary income was 793 million euros, with a decrease of 23.2% year on year.
2. Capital account
In January-June 2019, the FDI in Romaniawas 2.322 billion euros (estimated value), among which the volume of theportfolio investment of transnational corporations was 560 million euros, andthe amount of equity investment was 1.762 billion euros.
II. Foreign debts
The statistics released by the NationalBank of Romania (or BNR, banca na牛ional膬 a rom芒niei ) show that by the end ofJune 2019, Romania鈥檚 balance of short-term and long-term foreign debts hadamounted to 103.671 billion euros, increasing by 4.3% compared with that at theend of the year 2018(see table 2).
Table 2: Romania鈥檚 foreign debts from Januaryto the end of June 2019 and the foreign debt repayment from January to June2019
Romania鈥檚 foreign debts from January to the end of June 2019 and the foreign debt repayment from January to June 2019
Foreign Debt repayment from January to June 2019**
Balance on December 31, 2018**
Balance from January to the end of June 2019**
1 Long-term foreign debt
1.1 Public foreign debt
1.1.1 Direct public foreign debt(a)
1.1.2 Publicly guaranteed foreign debt錛 /span>b錛 /span>
1.2 Non-publicly guaranteed foreign debt
1.2.1 Non-resident long-term deposits
1.3 Loans of monetary organizations
1.3.1 SDR allocations
2銆 /span>Short-term foreign debt
Total foreign debt錛 /span>1+2錛 /span>
**preliminarystatistics ***estimated statistics
(a) Direct contractual loans of Romania鈥檚 Ministryof Public Finance or local governments according to Romania鈥檚 Public Foreign Debt Law
(b) Guaranteed loans of Romania鈥檚Ministry of Public Finance or local governments according to Romania鈥檚 Public Foreign Debt Law
According to the table above, the balanceof short-term foreign debt was 33.310 billion euros, with an increase of 5.9%compared with that in the end of 2018, accounting for 32.1% of the total amountof foreign debt over the same period of time, with its proportion increasing by0.5 percentage points compared with that at the end of 2018. The balance oflong-term foreign debt was 70.361 billion euros, increasing by 3.5% over thatof 2018, taking up 68.4% of the total volume of foreign debt over the sameperiod of time, with its proportion decreasing by 0.5 percentage points overthat at the end of 2018.
In terms of the structure of foreign debt,the balance of the direct public debt and publicly guaranteed debt was 37.982billion euros, increasing by 9.3% compared with that at the end of 2018,accounting for 54.0% and 36.6% of the long-term foreign debt and total foreigndebt of that period respectively. The balance of guaranteed non-public debt was31.176 billion euros, decreasing by 2.6% compared with that at the end of 2018,taking up 44.3% and 30.1% of the long-term foreign debt and total foreign debtover that period respectively.
In terms of the debt repayment, fromJanuary to June 2019, Romania paid off 34.901 billion euros. Among these, therepayment rate of the long-term foreign debt was 19.2%, lower than the foreigndebt repayment rate in December 2018 over the same period of time by 21.2%.
The coverage degree of goods and servicesimports was 4.6 months, lower than that in the end of 2018 ( 4.9 months ) .
III. Foreign exchange reserve
By the end of June 2019, the BNR鈥檚 foreignexchange reserve was 32.569 billion euros, decreasing by 265 million euroscompared with that at the end of last month.
The gold reserve was 103.7 tons. Due to thefluctuation of gold price, the market value was 4.137 billion euros, and theinternational reserve (foreign exchange + gold) was 36.706 billion euros,decreasing by 9 million euro compared with that at the end of last month.
In July 2019, BNR鈥檚 due foreign public debtand publicly guaranteed foreign debt amounted to 87 million euros.
- Ministry of Commerce Website Copyright and Disclaimer Statement
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.