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June 15, 2021
BUSINESS

Trade deficit becoming worrisome * In Q1, exports grew by 3.5 pc and imports by 7.1 pc

The problem has become worrisome since mid-2015, but neither the former nor the current government seems concerned with the growing gap between the volume of exports and the volume of imports. Last year ended very badly. The value of Romania’s trade was EUR 117.5 bln in 2015, up by 5.9 percent year-on-year, exports totalling EUR 54.59 bln (+4.1 percent) and imports EUR 62.96 bln (+7.6 percent). In these conditions, Romania’s trade deficit grew by 38 percent year-on-year.

According to National Statistics Institute (INS) data, in Q1 of 2016 the trade deficit already climbed to EUR 1.966 bln, up by EUR 589.3 M compared to the one registered in Q1 last year.

In the first three months of 2016, FOB exports totalled EUR 13.846 bln, up by 3.5 percent year-on-year, while CIF imports totalled approximately EUR 15.813 bln, up by 7.1 percent.

In Q1 of 2016, the value of intra-EU28 trade stood at EUR 10.543 bln in the case of exports (76.1 percent of total exports) and EUR 12.349 bln in the case of imports (78.1 percent of total imports).

During the same period, the value of extra-EU28 trade stood at EUR 3.303 bln in the case of exports (23.9 percent of exports) and EUR 3.463 bln in the case of imports (21.9 percent of total imports).

In Q1 of 2016, important shares in the structure of exports and imports were held by the following groups of products: auto vehicles and transport equipment (48 percent of exports and 37.7 percent of imports), other manufactured products (33.1 percent of exports and 31 percent of imports).

In March 2016, FOB exports surpassed EUR 4.916 bln (up by 2.4 percent compared to March 2015), while CIF imports stod at EUR 5.891 bln (up by 5 percent compared to March 2015), the resulting deficit totalling EUR 973.9 M.

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