Statistics point to trade deficit up 15.4% in first quarter for Romania

The trade deficit rose by 15.4 percent in the first quarter of this year for Romania, to some EUR 1.69 billion, compared to the same period of 2011.

Exports were at EUR 10.99 billion and imports were higher, at EUR 12.6 billion. The growth on exports was of 2.3 percent when expressed in local currency and of 0.4 percent for values in EUR. Meanwhile, imports were up 3.9 percent in RON and 1.1 percent in EUR, according to data from the country's Statistics Institute. On both exports and imports, trade with transport equipment covered the bulk – 41.8 percent of exports and 33.5 percent on imports. In March, Romania exported EUR 4 billion worth of products and services, while imports stood at EUR 4.7 billion. The increase was of some 14.8 percent month-on-month for exports and of 17.9 percent month-on-month for imports. Compared to March 2011, exports were up 1.8 percent in RON but down 2.2 percent in EUR, due to exchange rate volatility. Imports were down year-on-year, both when expressed in RON: - 1.4 percent and in EUR: – 5.3 percent. Romania exported EUR 45 billion worth of goods and services last year, a growth of 20.5 percent on the year before, while imports were up 16.7 percent, to EUR 54.7 billion. The country's deficit for 2011 stood at EUR 9.72 billion. editor@romania-insider.com