Romania’s trade gap remains above EUR 3 bln in August
Romania’s foreign trade gap soared by 86% YoY to EUR 3.2 bln in August, remaining for the second month in a row above the EUR 3 bln threshold, according to data from the statistics office INS.
iulian ernst · Journalist
· Updated · 1 min read
Romania’s foreign trade gap soared by 86% YoY to EUR 3.2 bln in August, remaining for the second month in a row above the EUR 3 bln threshold, according to data from the statistics office INS.
Exports increased by 34% YoY to EUR 7.6 bln, while imports advanced faster, by 47% YoY to EUR 10.8 bln.
For the 12 months ending July, the trade gap reached EUR 31.1 bln (11.9% of GDP), 44.5% up from EUR 21.5 bln (9.4% of GDP) in August 2021.
More than reflecting global inflation, Romania’s trade gap is rising in real terms, as well as the deficit-to-GDP ratio. The trade data for July and August, combined with slower economic growth, are likely to further deteriorate external balance metrics.
The trade deficit (goods) in Q2 reached 10.1% of the total domestic demand for consumption, investments and inventory - up from 8.8% in the same period last year.
For the four quarters ending June, the ratio was 9.7% - up from 8.5% one year earlier and 8.2% two years earlier.
(Photo source: Andreykuzmin/Dreamstime.com)
