Romania’s exports continue growth in Q1 2014

Romania’s exports grew by 10.1 percent (in euro) in the first quarter of 2014 to EUR 12.75 billion, while imports were up 9.6 percent to EUR 13.87 billion, according to data from the National Statistics Institute (INS). The commercial deficit in the first quarter was EUR 1.12 billion just EUR 40 million higher than in the first quarter of 2013. Last year, Romania’s exports reached a record level of EUR 49.5 billion, after a 10 percent year-on-year growth. Exports were the main driver for Romania’s economic growth last year when GDP grew by 3.5 percent. Romania’s main exports in the first quarter of 2014 were vehicles and transport equipment, which amounted to 42.5 percent, and other manufacturing products, which were 32.5 percent. Food, beverages and tobacco were 7.8 percent of total exports, fuels and lubricants were 6.8 percent, chemical products were 5.4 percent and raw materials were 5 percent. In March, exports were EUR 4.48 billion, up 11.8 percent compared to March 2013, and imports were EUR 5.03 billion, 8.1 percent higher. This led to a commercial deficit of EUR 551 million, EUR 18.8 million lower than one year before. Dacia cars have been the main Romanian exports in the last few years. Andrei Chirileasa, andrei@romania-insider.com (photo source: Dacia)