The trade deficit of Romania after the first eight months of the year was EUR 6.14 bln, being at approximately the same level as in the same period of 2010, according to the National Statistical Institute (INS). In the same period, export continued to grow faster than import. In the first eight months exports were up 25.1 per cent and imports 19.9 per cent.
Calculated in RON, exports were up 25.7 per cent to RON 122.83 bln and imports grew by 20.4 per cent to RON 148.53 bln, accounting for a trade deficit of RON 25.69 bln. The value of intra-community trade in the period from January until August 2011 was EUR 20.76 bln (RON 87.11 bln) outgoing and EUR 25.34 bln (RON 106.24 bln) incoming, representing 70.9 per cent of the total exports and 71.5 per cent of total imports.
The difference between the growth based on values expressed in RON and EUR comes from the monthly exchange rate variations in the relevant period of 2011 compared to the corresponding period of 2010.
On the other hand, in August exports amounted to EUR 3.46 bln (RON 14.69 bln) and imports EUR 4.31 bln (RON 18.31 bln). August trade deficit was EUR 851 M (RON 3.61 M), higher by EUR 218.2 M (RON 932.5 M) than in August 2010. Compared to August 2010, in August 2011 export was up 24.1 per cent as values expressed both in EUR and in RON and import was up 26.1 per cent in RON and 26.0 per cent in EUR. As compared to July 2011, in August exports dropped 8.4 per cent in RON (8.5 per cent in EUR) and imports decreased by 2.9 per cent in RON (3.1 per cent in EUR).