Romanian Jan-Aug Trade Gap Narrows To EUR5.8B

Romania’s trade deficit narrowed in the first eight months to EUR5.79 billion from EUR15.43 billion in the same period the year before, the National Statistics Institute said Monday.

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Exports were down 19.1% on the year to EUR18.56 billion in January-August, while imports fell 36.6% to EUR24.35 billion in the analyzed period.

In August alone, Romania's trade deficit was of EUR731.7 million, compared with EUR1.96 billion in August 2008.

Exports were at EUR2.17 billion in August, down by 22.1% compared with July and by 18.2% from the same month the year earlier.

Imports fell 12.5% on the month to EUR2.9 billion in August. On the year, imports in August were down 35.5%.

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.

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