Romania’s trade deficit continues to widen in Q1 2016

Romania’s trade deficit grew by EUR 589.3 million in the first quarter of the year as compared to the same period of 2015, according to data released by the National Institute for Statistics.

With exports growing by 3.5 percent to EUR 13.8 billion and imports by 7.1 percent to EUR 15.8 billion in Q1, the trade balance totaled EUR 1.96 billion.

Goods exchanged with the EU bloc represented 76.1 percent of the total exports (EUR 10.5 billion) and 78.1 percent of the total imports (EUR 12.3 billion). Goods exchanged outside the EU amounted to EUR 3.3 billion in exports and EUR 3.3 billion for imports.

In the first quarter of 2016, important weights in the structure of exports and imports were represented by the following groups of goods: machinery and transport equipment (48 percent for export and 37.7 percent for import) and other manufactured goods (33.1 percent for export and 31 percent for import).

In March 2016, the exports were of EUR 4.9 billion (up 2.4 percent y-o-y) and imports were of EUR 5.8 billion (up 5 percent).

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