Exports again grow at slower pace than imports for Romania, sending trade deficit up EUR 100 mln

Romania's trade deficit was of EUR 511 million in February this year, up EUR 100 million on February 2011, according to the country's Statistics Institute (INS).

Exports were up 1.9 percent year-on-year in February, while imports grew by 4.6 percent y-o-y during the month. The month-on-month evolution shows a similar trend, with exports up at a slower pace than imports. Exports increased by 1.4 percent compared to January this year, while imports, up 2.7 percent. Romania exported EUR 3.5 billion worth of goods and services in February this year, when it imported EUR 4 billion of products and services. The trade deficit for the first two months of the year stood at EUR 970 million, up some EUR 350 million on the first two months of 2011. Cars and transport equipment made almost 42 percent of the country's exports and 34 percent of its imports. Romania also exported food products, beverages and tobacco – 6.4 percent of its exports, as well as chemical products – some 5.8 percent. Other manufactured products covered 35 percent of the country's exports. In turn, Romania imported more chemical products – 14.5 percent of its imports, food, beverages and tobacco – some 6.5 percent of its imports, and other manufactured products, accounting for some 30 percent. editor@romania-insider.com