Romania's trade deficit reaches highest level since end-2008

Romania’s trade deficit has reached the highest level since December 2008, and the indicator will continue to worsen, according to statistical data, said Andrei Radulescu, Banca Transilvania senior economist. The trade deficit will grow, as imports will increase at a higher pace than exports, Radulescu explained, reports local Ziarul Financiar. Exports and imports of goods will reach historic highs in 2017 in nominal terms, due to post-crisis economic consolidation at European level, according to Banca Transilvania's scenario. Exports of goods rose by 9.6% in the first six months of the year compared to the same period in 2016, reaching EUR 30.9 billion. Meanwhile, imports went up by 12.4% year-on-year to EUR 36.7 billion. The trade balance recorded a deficit of EUR 5.8 billion in the first half of the year, up 30.2% year-on-year. editor@romania-insider.com