Trade deficit narrowed 72.8% in March

Romania’s trade deficit dropped 72.8% in March, down to 566.1 million euros, for the sixth successive month on drastic fall of imports outpaced by exports’ performance, National Institute of Statistics said.

Imports fell by a third in March, while exports fell by a mere 6.9% from prior-year period, thus lowering Romania’s trade deficit to 566.1 million euros, reads the preliminary statistic report released by NIS.

Imports shrank 35.3% in the 12 months ended March 31, down to around 3.13 billion euros, while exports contracted 6.9%, down to 2.56 billion euros.

The biggest decline in imports was recorded in trade with non-EU members, which shipped commodities worth 813 million euros, 43.6% less from 1.44 billion euros in the same month of last year.

Imports from EU members dropped by 31.8% in March down to 2.31 billion euros.

As for exports, Romania shipped to states outside EU commodities worth around 710 million euros, 14.8% less than a year earlier, while exports to EU states fell 3.5%, down to 1.85 billion euros.

Compared to February, exports hiked 23% in March and imports 8.4%.

Imports fell by a third (35.4%) in first quarter, down to 8.56 billion euros, and exports dropped by a fifth (19.4%) from prior- year period, down to 6.56 bln euros, hence pushing Romania’s trade deficit down 60.8%, to 1.996 billion euros.

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