Yes, that seems reasonable, and 205/55 R16 is certainly close enough.
Be aware that there are only a few millimeters clearance between the stock tyre's inner sidewall and the front strut. You may need some small spacers to avoid rubbing.
For efficiency, the rolling resistance of the tyre will play a much larger role than the overall diameter. It's a shame the US tyre labels don't show this, but thankfully EU labels do. I recommend trying to find EU labels for the exact models (including size, speed rating, and load rating) so you can make an informed comparison. Sometimes, the rolling resistance can vary for the same model of tyre across sizes, speed ratings, and load ratings.
Be aware that there are only a few millimeters clearance between the stock tyre's inner sidewall and the front strut. You may need some small spacers to avoid rubbing.
For efficiency, the rolling resistance of the tyre will play a much larger role than the overall diameter. It's a shame the US tyre labels don't show this, but thankfully EU labels do. I recommend trying to find EU labels for the exact models (including size, speed rating, and load rating) so you can make an informed comparison. Sometimes, the rolling resistance can vary for the same model of tyre across sizes, speed ratings, and load ratings.