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Bucharest
February 25, 2021
BUSINESS

INS: First quarter trade deficit down 54.8 pc

BUCHAREST – Romania’s trade deficit fell 54.8 per cent in the first quarter against the year-earlier period, to RON 8.479 bln, amid a 25.2 per cent drop in imports, a lot lower than the 6.7 per cent decline in exports. Romania’s first quarter exports and imports totalled RON 27.978 bln and RON 36.48 bln respectively, according to the National Institute of Statistics. The first quarter trade deficit accounts for less than half of the RON 18.769 bln in the year-earlier interval. The value of the intra-EU exchange of out-going goods equalled RON 20.99 bln, and incomings, RON 26.89 bln, or 75 per cent of exports and 73.8 per cent, imports namely.

Machinery, transport equipment and other manufactured products make up the bulk of exports and imports. March exports matched RON 10.97 bln, and imports, RON 13.39 bln. Compared to March of 2008, the RON value of exports rose 7.8 per cent, and imports fell 25 per cent. Against February, the RON value of exports was up 22.8 per cent in March, and imports, 8.2 per cent. March trade deficit therefore came to RON 2.42 bln (EUR 566 M), down RON 5.27 bln (EUR 1.5 bln) from the same month a year ago.

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