Current Account in Romania

Romania Current Account | Economic News & Forecasts

Romania - Current Account

The coronavirus shock and associated containment measures likely hit the economy even harder in the second quarter, after growth slowed to a near six-year low in Q1 as domestic demand lost significant traction. In April, industrial output shrank at the quickest rate on record, driven by a marked contraction in manufacturing production, while merchandise exports collapsed in the same month on crippled external demand and disrupted supply chains. Moreover, retail sales contracted at the fastest pace in history in April as non-essential businesses suspended operations, while the unemployment rate climbed to an over two-year high. In more positive news, restrictions have been gradually lifted since mid-May to reboot activity, with economic sentiment improving markedly in June. Moreover, on 1 July the authorities announced an economic recovery plan, aiming to allocate EUR 1.2 billion for small- and medium-sized businesses to finance working capital, restart operations and make investments.

Romania - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-1.2  -2.0  -3.4  -4.4  -4.6  

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Romania Current Account Chart

Romania Current Account
Note: Current account balance as % of GDP.
Source: National Bank of Romania.

Romania Facts

Value Change Date
Bond Yield4.490.23 %Dec 31
Exchange Rate4.26-0.34 %Dec 31

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