Romania’s net food imports hit over EUR 1.6 bln in Jan-Nov 2018

Romania imported vegetables and fruit worth EUR 1.26 billion in the first 11 months of 2018, while the value of exports on this segment was only EUR 213.9 million, according to data from the National Statistics Institute (INS). This resulted in a trade deficit of EUR 1.05 billion in the period.

Net export of grains was particularly strong (EUR 1.45 billion), but most of the other categories posted negative trade balances with the deepest deficit for the fruits and vegetables. The value of exports of fruits and vegetables declined by 17% in year-on-year terms, while the imports increased by 3.7%.

Romania also imported EUR 461 million worth of meat in net terms (imports minus exports), EUR 346 million worth of milk and eggs, and EUR 237 million worth of fish.

The net imports (trade deficit) of food in the first 11 months of last year summed up to a total of EUR 1.61 billion, or 0.8% of the year’s GDP. The overall foreign trade gap was, however, much wider: EUR 13.4 billion.

(Photo source: Pixabay.com)