Romania’s trade deficit narrows, exports reach record level of EUR 4.5 bln in July

Romania’s trade deficit stood at EUR 547 million in July 2013, a year-on-year decrease of EUR 171.5 million, according to recent data provided by the National Statistics Office INS. Meanwhile, exports reached a record level of EUR 4.48 billion in July this year, reads the statistics office’s preliminary estimations. Compared to July 2012, the exports climbed 18.1 percent and imports went up 11.3 percent in July this year, while compared to the previous month, exports increased 11.4 percent and imports climbed 15.2 percent. In the first seven months of the year, Romania’s trade deficit was EUR 3.12 billion, down EUR 2.23 billion compared to the same period in 2012. The exports went up 7.7 percent year-on-year in the first seven months of 2013, while imports dropped 0.7 percent. By product group, a significant share of the exports and imports was held by machinery and transport equipment – 42.5 percent of exports and 34.7 percent of imports, and other manufactured goods – 33.6 percent of exports and 30.3 percent of imports. In the first half of 2013, Romania’s trade deficit decreased by 45 percent over the same period last year, to some EUR 2.5 billion. Last year, Romania exported goods worth EUR 45 billion while imports valued EUR 54.6 billion, resulting in a trade deficit of EUR 9.5 billion, close to the level recorded in 2011. Irina Popescu, irina.popescu@romania-insider.com