Romanian Jan-Feb Trade Deficit At EUR2.87B

In February alone, the country’s trade deficit widened around 4% to EUR1.46 billion from EUR1.4 billion in the same month last year.

Imports were up 13.1% on the year in Jan-Feb to EUR8.1 billion, while exports rose a faster 19.4% on the year to EUR5.2 billion, the institute said.

In February, exports rose 20.3% on the year compared with February last year, while imports were up 14.2% on the year.

The European Union, which Romania joined in 2007, was the country’s main source of imports in Jan-Feb, accounting for nearly EUR5.68 billion. Exports to the E.U. bloc of 27 countries represented EUR3.7 billion of Romania’s total exports.

Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated to include such costs. The statistical institute said trade data for February are estimates.

In 2007, Romania’s trade deficit widened nearly 44.4% in 2007 to EUR21.5 billion from EUR14.89 billion in 2006, driven by higher imports from E.U. states.

The Romanian authorities forecast that in 2008 the country’s trade gap would be around 18.4% of gross domestic product to EUR24.3 billion, similar with 2007 trade deficit levels.