Romania Posts Trade Deficit of EUR2.31B in 1Q

05.10.2017 By Oana Gavrila

Romania's trade balance posted a deficit of EUR2.31 billion in the first quarter, EUR361.5 million higher than in the first quarter of 2016, the country's statistics board said Wednesday.

Imports grew 12.4% in January-March, to EUR17.77 billion, while exports grew at a lower rate, of 11.5%, totaling EUR15.46 billion.

Vehicles and other transport equipment made up 47.8% of Romania's exports and 36.9% of its imports in the first quarter of 2017, while other manufactured goods accounted for 33.8% of exports and 30.5% of imports.

The European Union remained Romania's main trading partner in January-March 2017, being the source of 76% of the country's imports and receiving 76.1% of its exports.

In March alone, imports grew 14.8% compared with March 2016, to EUR6.76 billion, while exports grew 15.9%, to EUR5.71 billion, resulting in a trade gap of EUR1.05 billion, the data showed.