ECONOMY FINANCE&BANKING

Romania records highest trade deficit with China in 2015

Last year, Romania recorded the highest trade deficit with China, in excess of 2.36 billion euros, data released by the Ministry of Economy shows.

Romania recorded the second-highest trade deficit with Hungary (-2.068 billion euros), followed by Germany (-1.697 billion euros), Poland (-1.587 billion euros) and the Netherlands (-1.140 billion euros).

Romania recorded significant levels of trade deficit with the following partner countries: Austria (-1.057 billion euros), the Russian Federation (-997.6 million euros), Kazakhstan (-967.2 million euros), Slovakia (-464.2 million euros), Belgium (-460.4 million euros), Czech Republic (-429.5 million euros), Ukraine (-252.3 million euros), Irleland (-236.4 million euros), Switzerland (-134.8 million euros), Turkey (-132.9 million euros), Brazil (-132.1 million euros), Taiwan (-129,5 million euros), Slovenia (-104.3 million euros) and Bulgaria (-39.3 million euros).

In 2015, Romania recorded a shrinking trade surplus with the United Kingdom (+814.9 million euros) and France (+196.6 million euros). Last year Romania didn’t record any growing trade surplus.

Important contributions to the partial compensation of the trade deficit recorded by Romania were brought by the trade surplus with Egypt (+635.3 million euros), Norway (+424.0 million euros), Algeria (+410.7 million euros), the United States (+373.1 million euros), Saudi Arabia (+363.9 million euros), Lebanon (+341.4 million euros), Marshall Islands (+268.8 million euros), Moldova (+259.4 million euros), Morocco (+252.8 million euros) and Jordan (+248.4 million euros).

In 2015 the total value of Romania’s international trade exceeded 117.56 billion euros, up by 5.9pct year-on-year, with exports recording an increase of around 54.598 billion euros (+4.1pct), and imports of about 62.967 billion euros, respectively (+7.6pct). Given this, Romania’s trade balance deficit increased by 38pct from -6.062 billion euros (on 31 December 2014), to 8.369 billion euros (on 31 December 2015).

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