Romania's Current Account Swings To Surplus In June

(RTTNews) - Romania's current account turned to a surplus in June, helped by a notable improvement in foreign trade, data released by the National Bank of Romania showed Monday.

The balance of the current account at the end of June was a surplus of EUR695 million, which marked a significant improvement from the EUR2.78 billion shortfall seen in the same month last year.

The positive change mainly reflected a sharp fall in the deficit on the goods trade account to EUR1.47 billion from EUR3.5 billion in June 2012. The services account swung to a surplus of EUR1.16 billion from a deficit of EUR21 million.

The deficit on the income account eased markedly to EUR904 million from EUR1.26 billion at the end of June 2012. The balance of current transfers was a surplus of EUR1.91 billion, slightly lower than last year's EUR2 billion surplus.