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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania’s trade deficit surges by 30% yoy in September

Romania's trade deficit increased by 30% in September compared to the same month last year to EUR 1.54 billion.

The exports edged down by 0.5% year-on-year to EUR 6.07 bln, marking a negative annual performance for the seventh month in a row.

However, the imports strengthened by 4.4% yoy - the most robust performance since December 2019, to EUR 7.61 bln.

In the third quarter (Q3) of the year, the trade deficit widened moderately by 1.2% yoy (to EUR 4.38 bln), as the exports recovered partly after the deep dive taken in Q2.

Romanian exports' performance (-4.3% yoy in Q3) has been problematic since before the crisis that pushed them 33.6% down yoy in Q2.

Their recovery to positive growth rates is uncertain, depending on both the recovery in external markets and internal investments.

The imports (-3.2% yoy in Q3), pushed up by the net public spending (budget deficit) and households maintaining certain confidence, are more likely to return to positive growth rates.

The EU funds expected to be absorbed over the coming years represent an opportunity for the local producers to substitute imports and balance the foreign trade balance.

Otherwise, the trade deficit will keep widening, generating rising pressures on the balance of payments and exchange rate once the inflows are discontinued. 

(Photo: Pixabay)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania’s trade deficit surges by 30% yoy in September

Romania's trade deficit increased by 30% in September compared to the same month last year to EUR 1.54 billion.

The exports edged down by 0.5% year-on-year to EUR 6.07 bln, marking a negative annual performance for the seventh month in a row.

However, the imports strengthened by 4.4% yoy - the most robust performance since December 2019, to EUR 7.61 bln.

In the third quarter (Q3) of the year, the trade deficit widened moderately by 1.2% yoy (to EUR 4.38 bln), as the exports recovered partly after the deep dive taken in Q2.

Romanian exports' performance (-4.3% yoy in Q3) has been problematic since before the crisis that pushed them 33.6% down yoy in Q2.

Their recovery to positive growth rates is uncertain, depending on both the recovery in external markets and internal investments.

The imports (-3.2% yoy in Q3), pushed up by the net public spending (budget deficit) and households maintaining certain confidence, are more likely to return to positive growth rates.

The EU funds expected to be absorbed over the coming years represent an opportunity for the local producers to substitute imports and balance the foreign trade balance.

Otherwise, the trade deficit will keep widening, generating rising pressures on the balance of payments and exchange rate once the inflows are discontinued. 

(Photo: Pixabay)

andrei@romania-insider.com

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