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Romania’s 1H Trade Gap Narrows 63.4% YY To EUR4.34B

Romania’s trade deficit narrowed by 63.4% in the first six months to EUR4.34 billion from EUR11.19 billion in the same period a year earlier, the National Statistics Institute said Monday.
Romania’s 1H Trade Gap Narrows 63.4% YY To EUR4.34B
10 aug. 2009, 12:40, English

Exports in the first six months were at EUR13.56 billion, down 20.3% compared with the same period a year before, while imports fell 36.6% on the year, to EUR17.9 billion.

In June alone, Romania’s trade deficit was of EUR668.3 million, compared with EUR2.09 billion in June 2008.

Exports were at EUR2.53 billion in June, up 11.2% compared with May, but down 17.5% on the year.

Imports rose 6.3% on the month to EUR3.20 billion in June, but fell roughly 38% on the year.

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

Romania’s trade deficit was up 3.4% in 2008 to EUR22.5 billion, from EUR21.7 billion in 2007, with the exports growing last year at a higher pace than imports.