Current account deficit dropped by 58.9% in Q1 2011 to 634 million euro 

The current account deficit of the balance of payments dropped in the first quarter of the year by 58.9% compared to the similar period, last year to 634 million euro, Romania’s National Central Bank data reports. In January – March 2010 the current account deficit was 1.54 billion euro.

The balance of current transfers registered a higher total by 67.9% than in the January – March 2010 period. The balance of goods and services registered a deficit of 760 million euro compared to 1.56 billion euro while the commercial balance registered a deficit of 455 million euro, a 64.6% decrease compared to the first quarter of 2010.