Romania's trade deficit in agricultural products goes down

Romania’s trade deficit in agricultural products dropped by nearly 19% in the first five months of the year compared to the same period last year. The deficit reached EUR 148.1 million, due to the 16% increase in exports, according to the Agriculture Ministry. The grain exports, especially of corn and wheat, increased in this period, due to the better yields from last year. “We hope that the drought does not affect the figures in the following period, but we will certainly have effects that we’ll witness in the first months of 2016,” said Agriculture Minister Daniel Constantin, cited by local Agerpres. The drought has severely affected crops this year and has caused local producers losses of almost EUR 2 billion, representing sunk investments. In the most affected regions, the corn crops were ruined almost completely whereas more than half of the sunflower crops were lost. editor@romania-insider.com