Romania’s foreign trade gap up 27% y/y in Q1

Romania’s foreign trade deficit (goods) widened by 27% y/y to EUR 8.45 billion in Q1, according to data published by the statistics office INS. Exports rose by 2.7% y/y while imports surged by 8.1% y/y.

Romania’s deficit in foreign trade in goods has reached EUR 35.2 billion in the four quarters to March 2025, or 9.9% of GDP based on the latest GDP data available (likely to be revised downward upon release of Q1 GDP).

The ratio reached 9.4% as of December 2024 on a slightly upward trend – but remains below the double-digit levels reached in 2022 and the first half of 2023 amid the costly energy imports prompted by the war in Ukraine.

In Q1 2025, Romania’s exports rose by 2.7% y/y to EUR 23.60 billion, driven by a 55% rise in the export of mineral fuels to EUR 1.65 billion – visibly re-exports prompted by the 31% y/y rise in the imports of mineral fuels (to EUR 2.81 billion).

The largest export category remains that of automobiles and other transport means (46% of total) despite its negative -0.2% y/y dynamics, followed by that of manufactured goods classified by the raw materials (typically goods with a low processing degree such as timber or steel): 15% of total and down 1.8% y/y.

The country’s imports surged by 8.1% y/y to EUR 32.05 billion, pushed up (besides the higher imports of mineral fuels) by 6.1% larger imports of chemicals (15.2% of total imports), 5.0% larger imports of automobiles and other transport means (35.2% of total imports) and diverse manufactured goods under no major category (+10.5% y/y, 11.1% of total imports).

(Photo source: Tatiana Golmer/Dreamstime.com)