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October 5, 2022
ECONOMYFINANCE&BANKING

Trade deficit growing worryingly fast. Imports surpass exports by almost EUR 4 bln after 5 months

Romania’s FOB/CIF trade deficit in the first five months of 2016 reached 3.768 billion euros, up by 1.196 billion euros from the first five months of 2015, according to data released on Monday by the National Institute of Statistics (INS).
Romania’s FOB exports, January 1 – May 31, 2016, totalled 23.240 billion euros, while CIF imports were worth 27.008 billion euros.
May 2016 FOB exports stood at 4.672 billion euros, up 4.1 percent from May 2015, with CIF imports at 5.652 billion euros, up 8.7 percent, resulting in a deficit of 979.7 million euros.
Romania’s intra-EU 28 trade in goods, January – May 2016, was 17.608 billion euros worth of shipments and 21.045 billion euros worth of arrivals, making up 75.8 percent of the total exports and 77.9 percent of the total imports.
Romania’s extra-EU28 trade over the same time was 5.632 billion euros worth of exports and 5.962 billion euros worth of imports, making up 24.2 percent of the country’s total exports and 22.1 percent of the total imports.
Important shares in the composition of Romania’s foreign trade, January 1 – May 31, 2016 were held by: machines and transport equipment (48.1 percent exports and 37.6 percent imports) and other manufactured goods (33.2 percent exports and 31.3 percent imports).

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