Romania's current account deficit advanced by almost 15% in the first nine months to 12.7 billion euro

Romania’s payments’ current account registered in the first nine months of the year a deficit of 12.7 billion euro, a 14.8% increase as compared to the same period, last year, Romania’s National Central Bank data shows. The current account deficit continued to grow, after in the first months of the year increased by 1.6%.

The main cause was the commercial deficit that amounted to 16.66 billion euro, a 11.7% increase as compared to January-September 2007. According to the data, in the first nine months of the year the dynamics of exports exceeded by 2.4 points that of imports.

The revenue deficit registered, between January-September of 4.14 billion euro, a 33% increase as compared to the same period, last year while the goods and other services sector registered a deficit of 13.26 billion euro as compared to 11.70 billion euro in the first nine months of last year.

Romania’s foreign direct investments increased in the first nine months to 7.19 billion euro, as compared to 5.01 billion euro in January-September 2007. The current account deficit for January – August 2008 was covered by foreign direct investment in a proportion of 56.6%.