Romania’s exports up 5.8% in 2014, imports also grow

Romania’s exports increased by 5.8% year-on-year in 2014, to EUR 52.5 billion, while imports registered a similar growth of 5.9%, to EUR 58.5 billion. The commercial deficit was of EUR 6 billion last year, EUR 339 million higher than in 2013, according to latest data from the National Statistics Institute. Romania’s main exports were vehicles and transport equipment, which represented 42.3% of the total, while other manufactured products – 32.7%. Food, beverages and tobacco represented 8.5% of total exports while fuels and lubricants had a 6% share. In terms of imports, vehicles and transport equipment had a share of 35.5%, followed by other manufactured products with 30.7%, chemicals – 13.7%, fuels and lubricants – 9.3%, food, beverages and tobacco – 7.7% and raw materials – 3.1%. In December 2014, the exports dropped by 1.4% compared to the same month the previous year, to 3.79 billion, while the imports increased by 4.5% to EUR 4.54 billion. The commercial deficit was of nearly EUR 745 million, up by EUR 250 million year-on-year. Irina Popescu, irina.popescu@romania-insider.com