Romania Jan-Nov Trade Gap Narrows To EUR8.6B

Romania’s trade deficit narrowed to EUR8.64 billion in the first eleven months, from EUR8.96 billion in the same period a year earlier, the National Statistics Institute said Monday.

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Exports rose 27.2% on the year to EUR34 billion, while imports were up 19.5% to EUR42.6 billion.

Vehicles made up for the bulk of exports and imports in the January-November period, amounting to 42.3% of overall exports and 35.2% of the imports, the statistics data showed.

In November alone, Romania's trade deficit was of EUR911.3 million, wider from EUR863.2 million in the year-earlier month.

Exports were at EUR3.6 billion in November, up 30.9% on the year, while imports were up 24.9% to EUR4.5 billion.

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

Romania's trade deficit narrowed to EUR9.74 billion in 2009, from EUR23.51 billion a year earlier, with imports falling more rapidly than exports.

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