Romania’s trade deficit to GDP ratio up 0.7 pp to 9.9% in 12 months to May

Romania’s foreign trade in goods picked up in May, with the annual growth rates for both exports (EUR 8.00 billion, +10.6% y/y) and imports (EUR 10.73 billion, +5.0% y/y) enhanced by Easter (celebrated in April this year but in May last year). The trade deficit, on an upward trend, took a break and contracted by 10.6% y/y to EUR 2.28 billion in the month.

In the 12 months to May, the exports increased marginally by 1.8% y/y to EUR 93.6 billion, a modest performance compared to the +8.5% y/y advance of nominal GDP expressed in euros. The export-to-GDP ratio thus decreased to 26.2% in May 2025 from 27.9% one year earlier.

Imports in 12 months to May 2025, however, increased by 5.7% y/y to EUR 129.0 billion – faster than the exports but still surpassed by the nominal GDP expressed in euros. Consequently, the import-to-GDP ratio also decreased to 36.1% in May 2025 from 37.1% one year earlier.

The trade deficit in goods surged by 17.1% y/y to EUR 35.4 billion – 9.9% of GDP, up from 9.2% one year earlier.

(Photo source: Tatiana Golmer/Dreamstime.com)