Romania's current-account deficit widens 19.2pct, Jan.-Sept., 2019

In January - September 2019, Romania's balance-of-payments current account posted a deficit of EUR 8,103 million, compared with EUR 6,798 million in the same year-ago period, according to a press statement released by the National Bank of Romania (BNR) on Wednesday. 

The deficit on trade in goods widened by EUR 2,342 million, the surplus on services income increased by EUR 343 million, the deficit of the primary income balance narrowed by EUR 747 million, and the surplus of the secondary income balance decreased by EUR 53 million. 

In January - September 2019, total external debt increased by EUR 8,398 million, of which long-term external debt at end-September 2019 stood at EUR 73,831 million (68.2 percent of total external debt), up 8.1 percent against end-2018; short-term external debt at end-September 2019 amounted to EUR 34,408 million (31.8 percent of total external debt), up 9 percent from end-2018. 

Long-term external debt service ratio ran at 17.1 percent in January - September 2019 against 22.6 percent in 2018. At end-September 2019, goods and services import cover stood at 5 months, as against 4.9 months at end-2018. 

At end- September 2019, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 75 percent, against 74.1 percent at end-2018.