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Romania’s 11-Mo Trade Def Up 7.17% On Yr To EUR 20.9B

Romania’s January-November trade deficit rose 7.17% on the year to EUR20.9 billion, from EUR19.5 billion in the same period a year earlier, but exports grew at a higher pace than imports during the first ten months, the National Statistics Institute reported Friday.
Romania’s 11-Mo Trade Def Up 7.17% On Yr To EUR 20.9B
09 ian. 2009, 10:11, English

In the first 11 months, exports grew at a higher pace than imports.

In January-November, exports were up 15.9% on the year to EUR31.58 billion, compared with EUR27.26 billion in the same period a year earlier.

Imports were up 12.2% at the end of November, to EUR52.54 billion, from EUR46.81 billion in the year earlier period.

In November alone, the trade deficit was down 26.8% on the year to EUR1.68 billion. Exports dropped 9% on the year to EUR2.54 billion, while imports were in November at EUR4.22 billion, 17% lower than in the same month a year earlier.

The European Union, which Romania joined in 2007, was the country’s main source of imports in the first 11 months, accounting for EUR36.1 billion.
Exports to the European Union’s 27 countries stood at EUR22.2 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.