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Bucharest
June 23, 2021
BUSINESS

Romania’s exports, record level in July, almost EUR 4.5 bln

Auto industry and manufacturing, strongest economic sectors when it comes to exports.

The trade deficit dropped by EUR 2.23 bln to EUR 3.12 bln in the first seven months of the year, as a result of a rise in exports and a drop in imports, with exports reaching a record level of approximately EUR 4.5 bln in July. FOB exports totaled RON 124.07 bln (EUR 28.19 bln) in the first seven months, while CIF imports totaled RON 137.81 bln (EUR 31.32 bln), the National Statistics Institute (INS) data released yesterday shows.
Compared to the same period last year, exports grew by 7.6 per cent in RON-denominated values (by 7.7 per cent in EUR-denominated values), while imports dropped by 0.8 per cent in RON-denominated values (by 0.7 per cent in EUR-denominated values). The trade deficit thus stood at RON 13.74 bln (EUR 3.12 bln), down by RON 9.91 bln (EUR 2.23 bln) compared to the first seven months last year. The value of intra-EU28 trade stood at RON 87.56 bln (EUR 19.91 bln) when it comes to exports and RON 105.16 (EUR 23.91 bln) when it comes to imports, representing 70.6 per cent of total exports and 76.4 per cent of total imports respectively. The value of extra-EU28 trade stood at RON 36.51 bln (EUR 8.28 bln) when it comes to exports and RON 32.65 bln (EUR 7.4 bln) when it comes to imports.
“Important shares in the structure of exports and imports are held by the following groups of products: cars and transportation equipment (42.5 per cent of exports and 34.7 per cent of imports) and other manufactured products (33.6 per cent of exports and 30.3 per cent of imports),” the INS points out in the communiqué.
In July FOB exports totaled RON 19.93 bln (EUR 4.48 bln), a record value, and CIF imports totaled RON 22.46 bln (EUR 5.05 bln). Compared to July 2012, exports grew by 16.1 per cent in RON-denominated values (by 18.1 per cent in EUR-denominated values), while imports grew by 9.3 per cent in RON-denominated values (by 11.3 per cent in EUR-denominated values). Compared to June 2013, in July 2013 the exports grew by 11.7 per cent in RON-denominated values (by 11.4 per cent in EUR-denominated values), and imports grew by 15.1 per cent in RON-denominated values (by 15.2 per cent in EUR-denominated values). The trade deficit (FOB/CIF) stood at RON 2.53 bln (EUR 574 M) in July 2013, down by RON 867.7 (EUR 171.5 M) compared to the one registered in July 2012.
In the first half of this year Romania’s economic growth stood at 1.7 per cent compared to the same period last year, the INS recently announced. Compared to the same quarter in 2012, the economy grew by 1.3 per cent as gross series and by 1.2 per cent as series adjusted by seasonality, the INS shows. In H1 of this year the economy was backed by a hike of approximately 6 per cent in exports and by industrial production. The growth rhythm was nevertheless limited by the stagnation of internal demand, by the lack of infrastructure works and the drop in investments – both foreign investments and state investments.

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