Romania’s 10-Mo Trade Def Up 11.2% On Yr To EUR19.19B

In January-October, exports were up 18.6% on the year to EUR29.02 billion, compared with EUR24.47 billion in the same period a year earlier.

In the first ten months, exports’ growth was higher than the imports’ increase. Imports were up 15.5% at the end of October, to EUR48.22 billion, from EUR41.73 billion in the year earlier period.

In October alone, the trade deficit was down 8.9% on the year to EUR2 billion, and was the result of EUR3.2 billion worth of exports and EUR5.2
billion in imports.

The European Union, which Romania joined in 2007, was the country’s main source of imports in the first ten months, accounting for EUR33.1 billion.
Exports to the European Union’s 27 countries stood at EUR20.4 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 October 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.