Romania’s imports and exports see double digit growth in January

Romanian exports increased by 13.6% in January this year compared to the same month in 2016, reaching EUR 4.68 billion. The imports recorded a higher growth pace, amounting to 17.4%. They totaled EUR 5.28 billion. The trade deficit thus reached EUR 602 million in January, up 59% over January last year. This is the highest January deficit since 2008 as the deficit is usually lowest in the first month of the year. Romania exported goods of EUR 3.57 billion in the European Union in January 2017 and imported goods of EUR 3.95 billion. In the trade with countries from outside the EU, Romania also recorded a deficit in January. The exports outside the EU reached EUR 1.1 billion whereas the imports from countries outside the EU amounted to EUR 1.34 billion. Machinery and transport equipment had the largest share in foreign trade in January, with a share of 48.3% in exports and 36.9% in imports. Food products, beverages and tobacco accounted for 6.8% of exports and 8.3% of imports, while chemicals covered 4.2% of exports and 12.9% of imports. Romania’s trade deficit in 2016 amounted to EUR 9.96 billion, up 19% over 2015. editor@romania-insider.com