This is the fourth month in a row that sees an annual decline in both exports and imports.

Thus, imports crashed by 36 percent on February 2008 to almost 2.84 billion euros and exports compressed by 27.7 percent to 2.07 billion euros, dragging the trade deficit down from 1.57 billion euros to 764 million euros.

The largest decline was reported in the trade with countries outside the European Union (EU), where Romania imported 36.2 percent less goods. Imports from the other EU members dropped by 36 percent to 2.065 billion euros.

Exports to countries outside the EU borders were worth 496.1 million euros in February, down 39.6 percent on the similar month of 2008, while exports to non-EU countries only reduced 23 percent to 1.576 billion euros.

Exports grew 7.9 percent month-on-month in February and imports hiked 12.1 percent.

The first two months of the year reported exports of 3.99 billion euros, down 26 percent on the similar period of 2008, while imports diminished 36.2 percent, exceeding 5.36 billion euros.

Romania's trade gap for the first two months of this year stood at 1.37 billion euros, down 54.5 percent year-on-year.