{"id":238416,"date":"2006-07-07T19:03:00","date_gmt":"2006-07-07T19:03:00","guid":{"rendered":"http:\/\/new.moldova.org\/2006\/07\/07\/current-account-deficit-of-balance-of-payments-was-89-93-million-dollars-in-1st-quarter-13955-eng\/"},"modified":"2006-07-07T19:03:00","modified_gmt":"2006-07-07T19:03:00","slug":"current-account-deficit-of-balance-of-payments-was-89-93-million-dollars-in-1st-quarter-13955-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/current-account-deficit-of-balance-of-payments-was-89-93-million-dollars-in-1st-quarter-13955-eng\/","title":{"rendered":"Current account deficit of balance of payments was 89.93 million dollars in 1st quarter"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The current account of the balance of payments of Moldova registered a deficit of 89.93 million dollars in January-March 2006, compared with 35.70 million dollars in the 1st trimester of 2005. <\/p>\n

According to the preliminary version of the balance of payments for the 1st trimester of 2006, elaborated by the National Bank of Moldova, the situation was mainly conditioned by a deeper deficit of trade balance. <\/p>\n

Thus, exports of goods rose by 11.33 million dollars or 4.5 percent in January-March 2006 compared with the similar period of last year (by 6.7 percent with CIS and 2.4 percent with other countries of the world), up to 262.79 million dollars (FOB prices). More than 84.2 percent of exports went to Russia, Romania, Italy, Ukraine, Belarus, Germany, Turkey, France, the United Kingdom and Poland. <\/p>\n

Imports of goods grew by 107.94 million dollars or 24.9 percent in the 1st trimester of this year, compared with the same period of last year (by 29.7 percent from CIS and by 21.3 percent from other countries of the world), up to 542.29 million dollars (FOB prices). Moldova has mainly imported from Ukraine, Russia, Romania, Germany, Italy, Belarus, Turkey, Poland, France and China. <\/p>\n

The balance of services registered a deficit in the amount of 1.97 million dollars, which is 2.2-fold lower compared with the 1st quarter of 2005. As regards revenues, a surplus balance of 67.25 million was registered, by 47.3 percent more than in the 1st trimester of 2005. Inflows have grown by 21.3 percent while outflows have dropped by 3.9 percent. <\/p>\n

Earnings of Moldovans working abroad for less than one year were estimated at 106.0 million dollars (94.1 percent of the total of returns – 112.60 million dollars). The balance of current transfers was 124.29 million dollars. Remittances of Moldovans working abroad for more than one year are estimated at 83.01 million dollars, covering 60.7 percent of the total of current transfers to Moldova. <\/p>\n

Moldova has received foreign grants worth 31.5 million dollars in the period concerned. The summary surplus of returns and unilateral current transfers rose by 26.4 percent, up to 191.54 million dollars, covering 68 percent of the deficit of commodity trade. <\/p>\n

As regards the second chapter of the balance of payments, the capital and financial account, external net liabilities have risen by 63.08 million dollars, while assets have declined by 4.37 million dollars. Inflows of foreign direct investments in national economy turned over 49.68 million dollars (including 3.79 million dollars in goods). They went to communications, constructions and insurance. <\/p>\n

Net investments of non-residents in social capital, including reinvested revenue, were evaluated at 23.89 million dollars. Thus, foreign direct investments in national economy totalled 1,160,096,000 lei (343 dollars per capita) before March 31, 2006. <\/p>\n

Official state reserves of the state dropped by 9.38 million dollars in the 1st quarter of this year, mainly due to the public and guaranteed foreign debt service, and accounted for 593.09 million dollars. This level was enough to import goods and services in 2.1 months. <\/p>\n

Moldova’s foreign debt rose by 43.57 million dollars in the 1st trimester of 2006, up to 2.03 billion dollars. The public and guaranteed foreign debt has dropped by 4.97 million dollars, while the non-guaranteed public debt has grown by 48.54 million dollars, up to 1,263,077,000 dollars. \/\/ BASA-Press<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>Current account deficit of balance of payments was 89.93 million dollars in 1st quarter<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-238416","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The current account of the balance of payments of Moldova registered a deficit of 89.93 million dollars in January-March 2006, compared with 35.70 million dollars in the 1st trimester of 2005. <\/p>\n

According to the preliminary version of the balance of payments for the 1st trimester of 2006, elaborated by the National Bank of Moldova, the situation was mainly conditioned by a deeper deficit of trade balance. <\/p>\n

Thus, exports of goods rose by 11.33 million dollars or 4.5 percent in January-March 2006 compared with the similar period of last year (by 6.7 percent with CIS and 2.4 percent with other countries of the world), up to 262.79 million dollars (FOB prices). More than 84.2 percent of exports went to Russia, Romania, Italy, Ukraine, Belarus, Germany, Turkey, France, the United Kingdom and Poland. <\/p>\n

Imports of goods grew by 107.94 million dollars or 24.9 percent in the 1st trimester of this year, compared with the same period of last year (by 29.7 percent from CIS and by 21.3 percent from other countries of the world), up to 542.29 million dollars (FOB prices). Moldova has mainly imported from Ukraine, Russia, Romania, Germany, Italy, Belarus, Turkey, Poland, France and China. <\/p>\n

The balance of services registered a deficit in the amount of 1.97 million dollars, which is 2.2-fold lower compared with the 1st quarter of 2005. As regards revenues, a surplus balance of 67.25 million was registered, by 47.3 percent more than in the 1st trimester of 2005. Inflows have grown by 21.3 percent while outflows have dropped by 3.9 percent. <\/p>\n

Earnings of Moldovans working abroad for less than one year were estimated at 106.0 million dollars (94.1 percent of the total of returns – 112.60 million dollars). The balance of current transfers was 124.29 million dollars. Remittances of Moldovans working abroad for more than one year are estimated at 83.01 million dollars, covering 60.7 percent of the total of current transfers to Moldova. <\/p>\n

Moldova has received foreign grants worth 31.5 million dollars in the period concerned. The summary surplus of returns and unilateral current transfers rose by 26.4 percent, up to 191.54 million dollars, covering 68 percent of the deficit of commodity trade. <\/p>\n

As regards the second chapter of the balance of payments, the capital and financial account, external net liabilities have risen by 63.08 million dollars, while assets have declined by 4.37 million dollars. Inflows of foreign direct investments in national economy turned over 49.68 million dollars (including 3.79 million dollars in goods). They went to communications, constructions and insurance. <\/p>\n

Net investments of non-residents in social capital, including reinvested revenue, were evaluated at 23.89 million dollars. Thus, foreign direct investments in national economy totalled 1,160,096,000 lei (343 dollars per capita) before March 31, 2006. <\/p>\n

Official state reserves of the state dropped by 9.38 million dollars in the 1st quarter of this year, mainly due to the public and guaranteed foreign debt service, and accounted for 593.09 million dollars. This level was enough to import goods and services in 2.1 months. <\/p>\n

Moldova’s foreign debt rose by 43.57 million dollars in the 1st trimester of 2006, up to 2.03 billion dollars. The public and guaranteed foreign debt has dropped by 4.97 million dollars, while the non-guaranteed public debt has grown by 48.54 million dollars, up to 1,263,077,000 dollars. \/\/ BASA-Press<\/p>\n

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