Romania’s foreign trade stagnates and shrinks as a share of total economy
Romania’s trade deficit with goods increased by 29% y/y to EUR 2.95 billion in July, as the exports’ modest improvement (+8.6% y/y) was offset by the robust increase (+13.4% y/y) in imports, according to the statistics office INS.
iulian ernst · Journalist
· Updated · 2 min read
Romania’s trade deficit with goods increased by 29% y/y to EUR 2.95 billion in July, as the exports’ modest improvement (+8.6% y/y) was offset by the robust increase (+13.4% y/y) in imports, according to the statistics office INS.
It could be concluded that the robust demand for private consumption, driven by higher wages, drove the imports and the trade gap – but it would be short-sighted. In fact, the 12% y/y nominal advance in consumption in 12 months to June (latest data available) failed to push up the imports that contracted by 1.5% y/y.
