Romania's Q1 2020 trade deficit reaches 4.46 billion euros

Romania's Q1 2020 FOB/CIF trade balance deficit reached 4.46 billion euros, up 732.4 million on Q1 2019, shows data with the National Institute of Statistics (INS) released on Monday.

Official statistics also show that between January 1 and March 31, 2020, FOB exports amounted to 17.07 billion euros and CIF imports amounted to 21.53 billion euros. During the same period, exports decreased by 2.6% and imports increased by 1.3%, compared to the same period of the previous year.

INS data show that in March 2020, FOB exports amounted to 5.44 billion euros, and CIF imports amounted to 7.3 billion euros, resulting in a deficit of 1.86 billion euros. As against March 2019, March 2020 exports decreased by 11.3%, and imports decreased by 1.8%.

In Q1 2020, important shares in the structure of exports and imports were held by machinery and transport equipment (48.3% of exports and 36.2% of imports) and other manufactured products (30.1% of exports and 29.3% of imports).

The value of intra-EU trade between January 1 and March 31, 2020 was 12.34 billion euros worth of dispatches and 15.83 billion euros worth of arrivals, making up 72.3% of total exports and 73.5% of total imports.

The value of non-EU trade between January 1 and March 31, 2020 was 4.73 billion euros worth of exports and 5.7 billion worth of imports, making up 27.7% of total exports and 26.5% of total imports.