Romania's trade deficit up 766.5mln euro seven months into 2018, to over 7.5bn euro

Romania recorded in the first seven months of the year a trade balance deficit of 7.577 billion euro, up 766.5 million euro compared to the one recorded in the similar period of 2017, shows data with the National Institute of Statistics (INS), made public on Monday. 

According to statistical data, between 1 January and 31 July 2018, FOB exports totaled 39.878 billion euro, up 10.4pct compared to the first seven months of the previous year and CIF imports totaled 47.455 billion euro, 10.5pct higher than the reference period. 

Between January 1 and 31 July, 2018, important shares in the structure of exports and imports are held by the product groups: machinery and transport equipment (48.1pct for exports and 38.1pct for imports) and other manufactured products (32.5pct for exports and 30.8pct for imports respectively). 

According to the INS data, the value of intra-EU trade in goods between 1 January and 31 July 2018 was 30.529 billion euro for exports and 35.620 billion euro for imports, representing 76.6pct of total exports and 75.1pct of total imports. 

On the other hand, the value of extra-EU28 goods exchanges in the reference period was 9.348 billion euro for exports and 11.834 billion euro for imports, accounting for 23.4pct of total exports and 24.9pct of total imports. 

In July 2018, FOB exports totaled 5.9 billion euro, up 12.9pct from July 2017, and CIF imports advanced by 15.4pct to 7.173 billion euro, resulting in a deficit of 1.272 billion euro.