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March 21, 2023

Sixth largest trade deficit in the EU in January-July

In the January-July period Romania registered the sixth largest trade deficit in the EU (EUR 5.1 bln), registering among the lowest export reductions and the third largest drop in imports (36 per cent) compared to the same period last year, Eurostat informs. Thus, in the aforementioned period Romania’s exports totaled EUR 16.4 bln, down by 19 per cent compared to the same period last year. This drop places Romania in the last but two place in the Union in a tie with Spain. The imports dropped by 36 per cent to EUR 21.5 bln. Of the 27 EU member states, 17 posted trade deficits, with the rest registering trade surpluses. The highest trade deficits were registered by Great Britain (EUR 54.4 bln), France (EUR 30.4 bln) and Spain (EUR 27 bln). On the other hand, the highest trade surpluses were posted by Germany (EUR 73.4 bln), Ireland (EUR 23.3 bln) and the Netherlands (approx. EUR 21 bln). In what concerns the trade relations with non-EU states, in July Romania posted a trade deficit of EUR 200 M, the eleventh largest in the EU. Overall, in the January-July period the EU registered a trade deficit of EUR 68.4 bln, in contrast to EUR 152 bln in the same period last year.

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