Romania’s trade balance deficit does up

Romania’s trade balance deficit does up

The deficit in Romania’s FOB / CIF trade balance reached EUR 12,045 billion in the first nine months of 2019, up by EUR 2.089 billion according to data released on Monday by the National Institute of Statistics (INS).

According to the INS, during the first nine months of 2019, FOB exports amounted to EUR 51846.7 million and CIF imports amounted to EUR 63891.7 million. At the same time, exports increased by 2.0% and imports by 5.1% compared to the first nine months of 2018.

INS figures also show that in September 2019 FOB exports amounted to EUR 6099.4 million and CIF imports totaled EUR 7288.5 million, recording a trade deficit of EUR 1189.1 million. In September 2018, exports increased by 4.4% and imports increased by 7.0% in September 2019.

During the period January – September 3019, the following groups of products represent a significant burden on the structure of exports and imports: transport machinery and equipment (47.4% for exports and 37.1% for imports) and other processed products (32.2% for exports and 30.5% for imports, respectively).

Trade in goods within the EU (Intra – EU28) amounted to EUR 39758.1 million for shipments and EUR 47688.3 million for arrivals, representing 76.7% of total exports and 74.6% of total imports.

Trade in goods outside the EU (Extra – EU28) stood at EUR 12088.6 million for exports and EUR 16203.4 million for imports, representing 23.3% of total exports and 25.4% of total imports./ibna