Romanian Jan-Sept Trade Gap Narrows To EUR6.93B

Romania’s trade deficit narrowed in the first nine months to EUR6.93 billion from EUR17.98 billion in the same period the year before, the National Statistics Institute said Monday.

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Exports were down 18.2% on the year to EUR21.18 billion in January-September, while imports fell 36% to EUR28.11 billion year-on-year.

In September alone, Romania's trade deficit was of EUR1.05 billion, compared with EUR2.54 billion in September 2008.

Exports were at EUR2.59 billion in September, up by 18.8% compared with August, but down by 13.1% from the same month the year earlier.

Imports rose 24.5% on the month to EUR3.64 billion in September. On the year, imports in September were down 34%.

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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