Are you sure?

Romanian trade deficit widens

  Romania’s commercial deficit increased in the first nine months of the year by 12.5% as compared to the similar period, last year to reach €16.93 billion even though the exports dynamic exceeded the imports, reports local news portal citing the National Statistics Institute.

 

Romania’s trade deficit, a key reason for recent downgrades of the country’s debt rating. The gap widened to €2.338 billion ($3 billion) from €1.718 billion in September last year, the Bucharest-based based National Statistics Institute said in an e-mail Monday.

The exports’ advance was 18.3% up to €25.58 billion while imports increased by 15.9% to €42.51 billion. Thus, the dynamics of the goods export exceeded, for the 10th month in a row the dynamics of imports. Romania’s commercial deficit was RON 61.56 billion (€16.46 billion), a 24.1% increase as compared to January-September 2007. In this period, exports increased by 30.4% to RON 93.03 billion and imports by 27.8% to RON 154.60 billion.

In the mentioned period, the value of intra-communitarian goods exchange amounted to RON 65.12 billion, which translates into some €17.89 billion for exports and €29.04 billion for important, representing 70% of total exports and 68.4% of total imports.

The growth in wages and lending in September offset the effects of a weaker leu (RON), which has dropped more than 8% in the past year against the euro, the currency of Romania’s main trading partners. (HotNews.ro, Bg)