Romania’s imports reach new record high in March, trade deficit widens

Romania’s imports passed the EUR 5.6 billion mark in March setting a new record. The imports were 17.6% higher than in February and 11.6% higher than in March 2014, according to data from the National Statistics Institute (INS). At the same time, Romania’s exports went up by 9.3% in March compared to the previous month, to EUR 4.8 billion. The growth compared to March 2014 was 7.2%. The trade deficit reached EUR 812 million in March, which is the highest level in the last 27 months. In the first quarter, the deficit was EUR 1.37 billion, 23% higher than in the same period of last year. Imports went up by 6.3% in the first three months, to EUR 14.75 billion, while imports increased by 4.9%, to EUR 13.38 billion. Romania’s biggest imports were transport equipment and vehicles, which accounted for 36.7% of the total value, followed by chemicals (14.1%). Food, beverages and tobacco accounted for 8% of all imports. The country’s most important exports were transport equipment and vehicles, with a 44% share. Food, beverages and tobacco came second, with 8.5%. editor@romania-insider.com