Romania ended 2021 with a current account deficit of EUR 16.95 bln, 55% more than in 2020, most of the deficit being generated by the trade deficit (goods), which surged to EUR 23 bln, EUR 4.2 bln (+22% YoY) more compared to the previous year, according to BNR data.

The CA gap to GDP ratio widened from 5% in 2020 to 7% in 2021.

The ratio was 4.9% before the crisis, in 2019.

At the same time, the balance of primary income, which includes labour income, income from investments in financial assets (direct investment, portfolio investment and other investments), taxes, subsidies, posted a deficit of EUR 4 bln in 2021, EUR 644 mln (+19%) more compared to 2020.

The balance of secondary revenues, which include current private transfers and public administration transfers recorded a surplus that was lower by EUR 901 mln (-47%). 

(Photo: Octav Ganea/ Inquam Photos)

iulian@romania-insider.com