October trade deficit shrinks on exports fall

October imports fell 33.8% to €3.6billion while exports dropped 17.1% from a month earlier to €2.7 billion, Romania’s trade deficit hence narrowing for the 13th consecutive month.

Romania’s imports from non-EU countries in October showed the steepest decline, to €896.7 million, 45.2% less than €1.6billion a year earlier. Romania’s imports from EU countries fell 28.9% to €2.7 billion, statistics from the statistical office show.

Romania’s exports to non-EU countries stood at €606.6 million, 35.4% less than the same period of last year, while exports to EU countries narrowed 9.6% to €2.1 billion.

On a monthly basis, exports rose in October 4.3%, while imports fell 1.7% when expressed in euro.

Romania’s trade gap narrowed 61.03% in the ten months through October to €7.859 billion. Romania imported 35.7% less than a year earlier, namely €31.76 billion and exported 18.1% less, namely €23.9 billion.

When expressed in lei, Romania’s Jan-Oct trade gap shrank 54.8% to 33.26billion lei. In the first ten months, the country’s exports to non-EU countries dropped 29.4% compare to the same period of last year, while imports from non-EU countries decreased by 44.2% to €8.4 billion.

Romania exported to the 26 EU countries goods worth €17.8 billion, 13.4% less than Jan-Oct 2008 period, and imported 31.9% less, of €23.3 billion.

Cars and other transport facilities had the highest share in the country’s exports, of 42.3%, followed by raw materials (6.2%), fuels (6.1%), food, drinks and tobacco (6%), chemical products and adjacent products (4.8%). Other manufactured items accounted for 34.6% of total exports.

Cars and other transport facilities accounted for 33.3% of Romania’s total volume of imported goods, chemical products – 14.3%, fuels - 9.2%, food, drinks and tobacco – 8.7% and raw materials – 2.7%. Other manufactured products accounted for 31.8% of the country’s Jan-Oct imports.