Romanian Jan-July Trade Gap Narrows To EUR4.86B

Exports were down 19.4% on the year to EUR16.34 billion in January-July, while imports fell 36.6% on the year to EUR21.21 billion.

In July alone, Romania’s trade deficit was of EUR487.4 million, compared with EUR1.96 billion in July 2008.

Exports were at EUR2.77 billion in July, up 9.3% compared with June, but down 14.5% on the year.

Imports rose 1.2% on the month to EUR3.26 billion in July, but fell by 37.4% from July 2008.

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.