Romanian Jan-Mar Trade Deficit Widens To EUR4.85B

In March alone, the country’s trade gap widened 19% on the year to EUR1.92 billion compared with EUR1.61 billion in the same month last year.

Imports were up 12.3% on the year in Jan-Mar to EUR12.8 billion, while exports rose a slightly faster 13.5% on the year to EUR7.96 billion, the institute said.

In March, imports rose 8.9% on the year compared with March last year, while exports were up 2.5% on the year in the same period.

The European Union, which Romania joined in 2007, was once again the country’s main source of imports in Jan-March, accounting for nearly EUR8.9 billion. Exports to the E.U. bloc of 27 countries represented EUR5.6 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 statistics institute said trade data for March 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 EUR24 billion.