Trade deficit up to EUR 1.26 billion January through February 2017

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Trade balance deficit (FOB/CIF) grew to EUR 1.259 billion in the first two months of 2017, the figure representing a EUR 267.5 million increase against the negative trade balance recorded in the similar period of 2016, say the data released on Monday by the National Institute of Statistics (INS).

The FOB exports boosted to EUR 9.75 billion, in the analysed period, up by 9.2 percent against the reference period, and the CIF imports were EUR 11.009 billion, after an incrase of 10.9 percent.

The value of the intracommunity trade of goods (Intra-EU28) was EUR 7.406 billion for the shipments and EUR 8.324 billion introductions, representing 76 percent of total exports and 75.6 percent of total imports.

The value of the extracommunity trade of goods (Extra-EU28) in the analysed period was EUR 2.34 billion in exports and EUR 2.68 billion in imports, representing 24 percent of total exports and 24.4 percent of total imports.

In 1 January – 28 February 2017, significant weights in the structure of exports and imports are held by the following groups of products: vehicles and transport equipment (48 percent for export and 37 percent for import) and other manufactured goods (33.4 percent for export and 30.4 percent for import).

“In February 2017, the FOB exports amounted to EUR 5.071 billion, the CIF imports were EUR 5.723 billion, resulting in a EUR 651.6 million deficit. As compared to February 2016, the exports of February 2017 grew by 5.4 percent, while the imports increased by 5.5 percent,” adds the INS release.