Romania Jan-Sept Trade Deficit Narrows To EUR6.9B

Romania’s trade deficit narrowed to EUR6.9 billion in January to September, from EUR7.1 billion in the year-earlier period, as exports rose more rapidly than imports, the country’s statistics institute INS said Tuesday.

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Exports rose 26.5% on the year to EUR26.8 billion, while imports were up 18.9% to EUR33.7 billion.

Vehicles made up for the bulk of exports and imports in the January-September period, amounting to 42% of overall exports and 35% of the imports, the data showed.

In September alone, Romania's trade deficit was of EUR784.1 million, tighter than EUR1.2 billion in the same month of 2009.

Exports were at EUR3.5 billion in September, up 35% on the year, while imports increased by 14% to EUR4.3 billion.

Compared with August 2010, exports rose 26.4%, while imports were up 27.5% in September.

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

Romania's trade deficit narrowed to EUR9.74 billion in 2009, from EUR23.51 billion a year earlier, with imports falling more rapidly than the exports.

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