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Bucharest
September 25, 2021
BUSINESS

Trade deficit drops more than 60 pc in first 9 months

Compared to the same month last year, this September the exports grew by 2.4 per cent and the imports dropped by 22.2 per cent, INS informs.

Despite the economic crisis the local products are slowly but surely making their way on the export markets, while the imports drop with each passing month. According to the data issued by the National Statistics Institute (INS) for September, the RON-denominated exports grew by 2.4 per cent compared to the level registered the same month last year, but dropped by 13.1 per cent when denominated in EUR, while the imports dropped by 22.2 per cent in RON-denominated values and by 34 per cent in EUR-denominated values.


At the same time, the trade deficit in September surpassed RON 4.468 bln (EUR 1.055 bln), being RON 4.650 bln (approx. EUR 1.487 M) lower than the level registered in September 2008. Thus, in September the exports stood at RON 10.973 bln (approx. EUR 2.591 bln), while the imports stood at RON 15.441 bln (EUR 3.646 M). As compared to August 2009, the exports registered in September grew by 19.1 per cent in RON-denominated values and by 18.8 per cent in EUR-denominated values, while the imports grew by 24.9 per cent in RON-denominated values and by 24.5 per cent in EUR-denominated values.


The same INS data reveals the fact that the trade deficit dropped in the first nine months by 61.44 per cent to RON 29.3 bln (EUR 6.93 bln) compared to the level registered in the same period last year, against the backdrop in which the imports dropped twice faster than the exports. In the first nine months of the year the exports totaled approximately RON 89.611 bln (EUR 21.182 bln), while the imports totaled RON 118.921 bln (EUR 28.115 bln). Compared to the same period last year, the exports dropped by 5 per cent in RON-denominated values and by 18.3 per cent in EUR-denominated values, while the imports dropped by 25.5 per cent in RON-denominated values and by 36 per cent in EUR-denominated values. The following products held significant shares in the structure of exports and imports registered in the first five months: cars and transport equipment (41.9 per cent of the exports and 33.1 per cent of the imports), other manufactured products (34.8 per cent of the exports and 31.6 per cent of the imports).


Industrial production recovers in September


According to the INS data, the industrial production dropped by 8.5 per cent after the first nine months of the year, with the drop being lower than the one registered in the January-August period, against the backdrop of the recovery registered by industrial production in September back when it grew by 21.3 per cent as a gross series.


In the first eight months of the year the industrial production drop stood at 9.1 per cent as a gross series. Compared to the same period last year, in the January-September period the industrial production drop was caused by significant drops registered by the extractive industry (-11.8 per cent) and by the processing industry (-9.7 per cent).

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