Romania registered the European Union’s deepest current account deficit in the fourth quarter of 2024, with a negative balance of EUR 9.4 billion, marking an increase from the EUR 8.5 billion (8.9% of GDP) deficit recorded in the previous quarter, according to data published by Eurostat on April 4.
This placed Romania at the bottom of the EU rankings, ahead of Greece, which posted the second-largest deficit at EUR 7.3 billion.
Overall, the EU recorded a current account surplus of EUR 113.2 billion in the last quarter of 2024, equivalent to 2.5% of GDP. This continued the bloc’s trend of strengthening external balances, following a surplus of EUR 107.5 billion (2.4% of GDP) in the third quarter and EUR 103.4 billion (also 2.4% of GDP) in the same period in 2023.
Among the 27 EU member states, 18 posted current account surpluses in Q4, 2024. Germany led with a EUR 50.4 billion surplus, followed by the Netherlands (EUR 38.9 billion), Ireland (EUR 18.2 billion), Denmark (EUR 15.2 billion), France (EUR 14.8 billion), Italy (EUR 9.9 billion), and Sweden (EUR 9.7 billion). Portugal recorded a balanced current account, while the remaining seven countries joined Romania and Greece in posting deficits.
Romania’s persistent external imbalance highlights underlying economic structural challenges, particularly in trade and investment flows. Despite overall improvements in the EU’s external position, the divergence in current account performance among member states remains significant.
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iulian@romania-insider.com
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