Romania’s exports increased by only 1.9% year-on-year in 2019, to EUR 69 billion, while the imports advanced more than twice as fast, by 4.2%, to EUR 86.29 bln.

The trade gap thus widened by 14% compared to 2018, to EUR 17.28 bln, according to the statistics office INS.

In December alone, exports rose by 4.9% year-on-year to EUR 4.83 bln, and imports advanced by only 4.5% year-on-year to EUR 6.59 bln, resulting in a deficit of EUR 1.77 bln, only 3.4% wider than in the same month of 2018.

According to data reported by INS, last year, important weights in the structure of exports and imports were held by machinery and transport equipment (47.2% for export and 37.2% for import) and other manufactured products (31.7% for export and 30.4% respectively for import).

Romania exported in 2019 food and livestock worth EUR 4.77 bln, accounting for 6.9% of total exports, up 13.1% compared to 2018.

Meanwhile, food imports went up by 11.4%, to EUR 6.76 bln, or 7.8% of the total.

Romania’s trade with EU states accounted for 76.6% of total exports and 74.6% of total imports.

(Photo: Pixabay)

editor@romania-insider.com