Trade balance deficit climbs by 1.867bn euro in first eight months to 10.850bn euro

The balance of trade deficit (FOB / CIF) climbed to 10.850 billion euro in the first eight months of this year, higher by 1.867 billion euro than the one recorded between January and August 2018, according to data National Institute of Statistics (INS) published on Thursday. 

Between January 1 and August 31, 2019, FOB exports totaled 45.749 billion euro, and CIF imports totaled 56.599 billion euro. 

According to the INS, during the mentioned period, exports increased by 1.7pct, and imports by 4.8pct, compared to the same period of 2018. 

In August 2019, FOB exports totaled 5.003 billion euro, and CIF imports totaled 6.368 billion euro, resulting in a deficit of 1.365 billion euro. Compared to August 2018, both exports and imports in August 2019 decreased by 2.5pct. 

According to the INS, between January 1 and August 31, 2019, important shares in the structure of exports and imports are held by the product groups: machinery and transport equipment (47.5pct for export and 37.1pct for import) and other manufactured products (32.2pct for export and 30.3pct for import respectively). 

The value of intra-EU28 goods exchanges between January 1 and August 31, 2019 was 35.087 billion euro for shipments and 42.183 billion euro for deliveries, representing 76.7pct of total exports and 74.5pct of total imports. 

The value of extra-EU28 goods exchanges between January 1 and for exports and 14.417 billion euro for imports, accounting for 23.3pct of total exports and 25.5pct of total imports.