Romania’s current account balance deficit decreased in May 2015 to EUR 297 million from EUR 595.9 million in April 2015, according to data from the Eurostat, the statistical office of the European Union.

 

Year on year, the deficit increased from EUR 100 million in May 2014.

The current account balance shows the difference between the sum of exports and income receivable and the sum of imports and income payable (exports and imports refer to both goods and services, while income refers to both primary and secondary income). The value of current account balance equals the saving-investment gap for the economy. The balance of current account is thus related to understanding domestic transactions.

Overall, the EU28 seasonally adjusted external current account recorded a surplus of EUR 13 billion in May 2015, compared with a surplus of EUR 11.9 billion in April 2015 and a surplus of EUR 4.8 billion in May 2014.

In May 2015, compared with April 2015, based on seasonally adjusted data, the surplus of the services account grew (+EUR 14.3 billion compared with +EUR 8.3 billion), while the deficit of the secondary income account remained stable (-EUR 7 billion). The surplus of the goods account fell (+EUR 7.4 billion compared with +EUR 11.5 billion) and the deficit of the primary income account increased slightly (-EUR 1.7 billion compared with -EUR 0.9 billion).

The 12-month cumulated current account for the period ending in May 2015 recorded a surplus of EUR 118.8 billion, compared with EUR 104.9 billion for the 12 months to May 2014. The surplus of the goods account grew (+EUR 68.1 billion compared with +EUR 29.6 billion) and the surplus of the services account rose slightly (+EUR 154.6 billion compared with +EUR 153.5 billion). The deficit of the primary income account grew (-EUR 25.3 billion compared with -EUR 5.6 billion), as did the deficit of the secondary income account (-EUR 78.6 billion compared with -EUR 72.6 billion).

Natalia Martian