Romania records sixth largest trade deficit in EU

Romania’s Jan-Sep trade deficit narrowed 61% year-on-year, as imports dropped 36% at a rate twice higher rate than exports that fell 18% from the same period of last year.

In the nine months through September this year, Romania exported goods worth €21.2 billion, €4.7 billion less than a year earlier, and imported goods worth €28.2 billion, €15.7 billion less than the same period of last year.

The largest trade deficits were observed in UK (€69.9 billion), France (€38.6 billion), Spain (€36.8 billion), Greece (€21.6 billion) and Portugal (€13.5 billion).

The largest surplus was observed in Germany, followed by Ireland and the Netherlands, of €9.17 billion, €29.7 billion and €27.9 billion respectively.

European Union’s trade balance with non-EU countries stood at €3.8 billion from €18.3 billion in the same period of last year. The euro area recorded a trade surplus of €8.8 billion. In October, euro area’s trade deficit stood at €1.2 billion.

Romania’s exports to non-EU countries dropped in October by 0.4% compared to a month earlier, while imports fell 9.3% to a deficit of €0.3 billion. Romania exported to non-EU countries goods worth €600 million in October.

EU’s exports to non-EU countries increased by 0.2% month-on-month in October, to €91.8 billion, while imports shrank 1% to €97.6 billion, pushing the trade deficit to €5.8 billion from €7.1 billion a month earlier.