Romania’s 9-Mo Trade Def Up 12.5% On Yr To EUR16.93B

In January-September, exports were up 18.3% on the year to EUR25.58 billion, compared with EUR21.63 billion in the same period a year earlier.

In the first nine months, exports’ growth was higher than the imports’ increase. Imports were up 15.9% at the end of September, to EUR42.51 billion, from EUR36.6 billion in the year earlier period.

In September alone, the trade deficit was up 36% on the year to EUR2.3, and was the result of EUR2.9 billion worth of exports and EUR4.2 billion in imports.

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The European Union, which Romania joined in 2007, was the country’s main source of imports in the first eight months, accounting for EUR29.04 billion. Exports to the European Union’s 27 countries stood at EUR17.9 billion.

Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated including such costs. The statistics institute said trade data for September 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.