Romania Trade Deficit Widens To 1.11B In First Quarter

05.12.2014 By Florentina Dragu

Romania’s trade deficit widened to EUR1.11 billion in the first quarter, from EUR1.07 billion a year earlier, the country’s statistics institute INS said Monday.

Exports of Romanian-made products rose 10.1% to EUR12.75 billion in January through March, while imports increased to EUR13.87 billion, from roughly EUR12.66 billion in the year-ago period.

Vehicles amounted to 42.5% of overall exports and 35% of the imports in the January-March period, while other manufactured items made up for 32.5% of Romanian exports and 29.8% of imports, the data showed.

In March alone, Romania’s trade gap narrowed to EUR551.4 million from EUR570.2 million in the same month of 2013, with exports rising at a faster pace than imports.

Exports increased 11.8% on the year to EUR4.48 billion in March, while imports advanced 9.9% to EUR5.03 billion.

Romania’s trade deficit narrowed to EUR5.7 billion in 2013, from EUR9.6 billion a year earlier.