Romania’s exports grew by 7.9 percent in May 2014, compared to May 2013, to EUR 4.34 billion. For the first five months of the year, the exports’ growth was 8 percent, in EUR, to a total of EUR 21.27 billion, according to data from the National Statistics Institute (INS).

Imports also grew by 8.1 percent in May 2014 compared to the same month last year, to EUR 4.88 billion, and by 7.8 percent in the first five months, to EUR 23.56 billion.

The commercial deficit was EUR 535 million in May and EUR 2.28 billion in the first five months of the year, also higher than in the corresponding periods of 2013.

Romania’s main exports are transport equipment and vehicles, with a 43.6 percent share in total exports in the first five months of the year. Cars made by Dacia and Ford, but also components for the auto industry are the main export products. Food, beverages and tobacco account for some 7.3 percent of total exports, fuel and lubricants are 6.4 percent and chemicals are 5.2 percent.

On the imports side, transport equipment and vehicles are 35.1 percent, chemicals account for 13.9 percent, fuels are 9.6 percent and food, beverages and tobacco make 7.5 percent.

About three quarters of Romania’s foreign trade is within the European Union.

editor@romania-insider.com