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Romanian Jan Trade Deficit At EUR1.41B

Romania’s trade deficit widened roughly 3% in January to EUR1.41 billion from EUR1.37 billion in the corresponding month last year, driven by higher imports from the European Union, the National Statistical Institute said Tuesday.
Romanian Jan Trade Deficit At EUR1.41B
11 mart. 2008, 10:44, English
Imports were up 11.3% on the year in January to EUR3.8 billion, while exports rose faster by 16.9% on the year to EUR2.4 billion, the institute said.
 
In January, exports rose 7.2% on the month from December last year, while imports fell 12.3% on the month.
 
The E.U., which Romania joined in 2007, was the country’s main source of imports in January, accounting for EUR2.6 billion. Exports to the E.U. bloc of 27 countries represented EUR1.7 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 January 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 European Union states.
 
The Romanian authorities forecast that in 2008 the country’s trade gap would stand around 18.4% of gross domestic product to EUR24.3 billion, similar with 2007 trade deficit levels.