Romania current account deficit accelerated 7.5 percent year-on-year

The widening of Romania’s current account deficit accelerated 7.5 percent year-on-year in the first four months to 4.842 billion euros on worrying trade gap, the central bank announced today. rnrnLast year’s deficit stood at 4.504 billion euros. In the first four months this year the commercial deficit, the main source of the external disequilibrium, widened 14.05 percent and the balance of incomes widened 7.15 percent from 1.371 billion euros last year to 1.469 billion euros this year. rnrnThe balance of services raised surplus 11.19 percent in the first four months of the year to 308 million euros versus 277 million euros in the same period last year. Services in transportation recorded an 83 million euro surplus in the first four months against an 84 million euro deficit in the same period last year. However, services in tourism saw a wider deficit from 14 million euros last year to 20 million euros this year. rnrnMoney inflows from current transfers which include money Romanians working abroad send home, totaled 2.876 billion euros in the first four months of the year, a 35.7 percent increase versus the similar period of the previous year. rnrnMoney outflows grew 51.6 percent from 668 million euros in the first four months last year to 1.013 billion euros this year. Therefore, the surplus of current transfers taken into account when calculating the external balance of payments climbed 28.4 percent to 1.863 billion euros. rn