Romania Jan-Feb Trade Gap Narrows To EUR582.4M

04.11.2011 By Florentina Dragu

Romania’s trade deficit narrowed to EUR582.4 million in the first two months of 2011, from EUR1.1 billion in the year-earlier period, the country’s statistics institute INS said Monday.

Romania's trade deficit narrowed to EUR582.4 million in the first two months of 2011, from EUR1.1 billion in the year-earlier period, the country's statistics institute INS said Monday.

Exports rose 42% on the year to EUR6.9 billion in January to February, while imports were up 25% to EUR7.5 billion.

Vehicles made up for the bulk of exports and imports, amounting to 42.2% of overall exports and 34.6% of the imports in the first two months, the data showed.

Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated including such costs.

In February alone, Romania's trade deficit was of EUR391.5 million, narrower from EUR651 million in the year-earlier month.

Exports were at EUR3.5 billion in February, up 36.4% on the year, while imports were up 21% to EUR3.8 billion.

Romania's trade deficit narrowed to EUR9.46 billion in 2010, from EUR9.86 billion a year earlier, with exports rising faster than imports.