Romania’s current account deficit almost tripled in the first eleven months of 2016, reaching EUR 3.44 billion.

The deficit was EUR 1.2 billion in the same period of 2015.

In the first eleven months of 2016, the deficit in the trade with goods reached EUR 8.77 billion, up 22% year-on-year. Meanwhile, on the services side, the surplus went up by 10% to EUR 6.96 billion between January and November 2016, but couldn’t compensate the surge in the goods’ deficit. The deficit in the trade with goods and services thus went up fourfold from EUR 324 million to EUR 1.28 billion.

The primary income balance, which mainly includes the dividends repatriated by foreign investors, recorded a deficit of EUR 4.4 billion in the first eleven months of the year, up 27% over the first eleven months of 2015. The secondary income balance, which includes individual money transfers, reached a surplus of EUR 2.24 billion, 12% less compared to the same period of 2015.

The National Prognosis Commission estimates a current account deficit of EUR 3.75 billion for 2016, double compared to 2015.

editor@romania-insider.com