Romania’s trade deficit narrows in first half of the year, shows National Statistics Office

Romania’s trade deficit decreased by 45 percent in the first half of 2013, over the same period last year, to some EUR 2.5 billion, according to the National Statistics Office (INS). Compared to the first six months of 2012, the exports climbed 5.9 percent in January-June this year, while imports went down 2.7 percent. By product group, a significant share of the exports and imports was held by machinery and transport equipment - 42.7 percent of exports and 34.7 percent of imports, and other manufactured goods - 33.7 percent of exports and 30.4 percent of imports. Romania’s trade deficit was some EUR 367 in June 2013, a year-on-year decrease of EUR 570.1 million, according to INS. The exports went up 7 percent in June this year over the same month in 2012, but remained almost unchanged compared to May 2013. Imports amounted to EUR 4.3 billion in June, a year-on-year decrease of 6.5 percent. In the first quarter of 2013, Romania’s trade deficit was some EUR 1.1 billion, a year-on-year decrease of EUR 646 million. 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 (photo source: sxc.hu)