Romania\u2019s current account (CA) deficit reached EUR 29.9 billion in 12 months to November 2025, which is 7.1% more compared to the previous 12-month period. Currently at 8.2% of the latest available GDP data, the CA is likely to reach 8.0% of GDP in 2025 after the full-year GDP is published \u2013 marginally down from 8.2% in 2024.<\/p>\n
The moderate improvement in the CA balance mirrors the slight fiscal consolidation:\u00a0the public deficit, largely responsible for the CA gap, has narrowed marginally from 8.65% of GDP in 2024 to 8.4% or possibly less in 2025. Further fiscal consolidation, but also subdued demand for consumption from the households, are likely to further improve the country\u2019s chronic external imbalance.\u00a0<\/p>\n
The state forecasting body CNP expects the CA gap to shrink to 6.6% of GDP this year, when the public deficit will hopefully reach 6.5% of GDP or less.<\/p>\n
The trade deficit in goods was EUR 32.7 billion over the 12 months to November \u2013 well above the overall CA deficit. However, it marked 0.9% y\/y contraction, driven by subdued consumption.\u00a0<\/p>\n
The surplus in the section of services, EUR 11.7 billion, decreased by 2.6% y\/y. The primary and secondary income accounts have both marked significant deterioration: over EUR 900 million each.\u00a0<\/p>\n
The net outflows under the primary income account (interest, dividends of FDI companies) increased by nearly 12% y\/y to EUR 9.3 billion (nearly EUR 1 billion more compared to the previous 12-month period), signalling good times for foreign investors. The surplus of the secondary income account collapsed by 73% y\/y to just EUR 370 million (down nearly EUR 1 billion from the previous 12-month period).<\/p>\n
On the upside, the net foreign direct investments to Romania increased by 56% y\/y to EUR 7.25 billion in the 12 months to November.\u00a0The reinvested earnings, accounting for a large portion of the FDI, edged down by 2.5% y\/y to EUR 3.2 billion.\u00a0<\/p>\n
The second largest contribution to the FDI in the 12 months, EUR 2.45 billion (+282% y\/y), came in the form of loans from parent groups of the local FDI companies. The new equity contribution was only EUR 1.56 billion, despite the robust 132% y\/y expansion that indicates increased confidence of foreign investors.<\/p>\n