Romania’s exports shrink for third month in a row in August

Romania’s exports of goods dropped by 2.5% year-on-year to EUR 5.0 billion in August, marking the third month in a row of negative annual evolutions.

The gross industrial output for the month, scheduled for release on October 14, will predictably also mark the third consecutive negative annual performance. Romania’s seasonally adjusted industrial output has stagnated since mid-2018 to recently plunge toward the levels prevailing in early 2017.

On the upside, imports have also contracted by 2.5% year-on-year in August and the trade gap consequently contracted proportionally by 2.5%.

The trend data calculated for the rolling 12 months improved slightly but they remain problematic: the exports in the previous 12-month period ending August increased by only 2.8% year-on-tear (3.3% in July) while the imports rose twice as fast by 5.9% year-on-year (6.8% in July). Consequently, the trade deficit widened by one fifth (20.7%).

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