Romania’s Jan-Apr Curr Acct Def Widens 7.5% On Yr To EUR4.84B

The trade deficit, with imports and exports calculated free on board, was up 14% on the year in the first four months, to EUR5.544 billion, from EUR4.861 billion in the same period the year before.

In January-April, the current account was 66.5% covered by foreign direct investment which totaled EUR3.218 billion. In 2007, foreign direct investment in Romania totaled EUR7 billion, compared with EUR9.1 billion in 2006.

Current account transfers registered a surplus of EUR1.863 billion in Jan-Apr, up 28.3% from the EUR1.371 billion surplus last year. Services posted a slight surplus of EUR308 million, up from EUR277 million in the same period a year earlier.

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Romania’s public debt totaled EUR41.754 billion at the end of April, up 8.5% compared with the end of 2007.

Last year, Romania’s current account deficit widened 66.1% on the year to EUR16.87 billion from EUR10.15 billion in 2006, mainly due to a larger trade deficit.