Romania still importing more than exporting, pushing trade deficit up after ten months

Romania's trade deficit was up some EUR 585 million in the first ten months of the year, to some EUR 8.2 billion, according to the country's Statistics Institute. Exports expressed in EUR were down, while imports grew during these ten months. Exports stood at some EUR 37.7 billion, while imports at EUR 45.9 billion. While the exports in RON were up 5 percent, the exchange rate took its tool and caused a 0.3 percent drop of exports expressed in RON. Imports were up both in RON – 6.5 percent, and in EUR – 1 percent. In October, exports were of EUR 4.19 billion, while imports were higher, some EUR 5.3 billion. Year-on-year, both exports and imports were up, both in EUR and expressed in RON. The highest increase was for imports – 13.6 percent compared to October 2011 when expressed in RON. October's trade deficit was of EUR 1.1 billion, EUR 330 million higher than in October 2011. Romania's exports were at EUR 45 billion last year, up 20.5 percent on the year before, while imports, with a smaller increase rate, 16.7 percent, were still higher than exports, at EUR 54.7 billion. This gave a trade deficit of some EUR 9.7 billion, close to the 2010 level. editor@romania-insider.com (photo source: sxc.hu)