Romania’s exports decreased by 1% in July 2019 compared to the same month of 2018 to EUR 5.84 billion. In the year-to-date period (January-July), the exports advanced by a meagre 2.1% compared to the same period last year, to EUR 40.7 bln, according to data released by the National Statistics Institute (INS).

The exports of transport means, nearly half of the total in the period (48%), rose by 2.0%. In the past two years (2017-2018), the exports expressed in euro advanced by rates of 8%-9% per year.

In contrast, Romania’s imports rose rather robustly by 5.9% in July compared to the same month last year, to EUR 7.36 bln.

In January-July, the imports gained 5.8% (to EUR 50.2 bln) compared to the same period last year, rising more than twice faster than the exports.

The imports of transport means (37% of total) -- a proxi for the consumer confidence, increased by 3.0% compared to the same period last year.

As a result of exports not keeping up with the rise of imports, the trade deficit widened by an annual rate of 38% in July (to EUR 1.76 bln) and by 25% in January-July (to EUR 9.5 bln).

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editor@romania-insider.com