Romania Jan-Feb Trade Gap Narrows To EUR1.02B

In the first two months of 2010, exports rose 21.8% on the year to EUR4.8 billion, while imports were up 6.2% to EUR5.9 billion.

Vehicles made up for the bulk of exports and imports in January-February, amounting to 42.9% of overall exports and 34.5% of the imports, the data showed.

In February, Romania’s trade deficit was of EUR593.4 million, compared with EUR864 million in the year-earlier period.

Exports were at EUR2.56 billion in February, up 10.6% from the previous month, while imports rose 14.7% to EUR3.15 billion.

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.