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Romania: Slightly Lower Current Account Deficit in 2012

Published: February 22, 2013; 11:52 · (Vindobona)

First estimates showed current account deficit declining to 3.8% of GDP in 2012 from 4.5% of GDP in 2011, Raiffeisen Research reports.

Romania: Slightly Lower Current Account Deficit in 2012 / Picture: © Wikimedia Commons / Danny Cornelissen [http://www.portpictures.nl]

This is the lowest level since 2000, the year when Romanian economy entered on a fast upward trend. Adjustment was driven by a lower foreign trade deficit in goods in services (5.1% of GDP in 2012, down from 5.4% of GDP in 2011) and a lower deficit in revenues balance (1.3% of GDP in 2012, down from 1.7% of GDP in 2011). In the first case, the improvement was supported…

This article includes a total of 546 words.

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