Romania’s trade deficit significantly decreased in 2013 according to data published by INS on Monday, to EUR5.7 billion versus EUR9.6 billion in the previous year, mainly due to the export recovery.
Furthermore, exports rose 10% on the year to an all-time high of EUR49.6 billion. The increase was fueled by an increase of deliveries towards other European Union countries, which account for 70% of Romania’s exports.
Imports rose 1% higher to EUR55.3 billion, which is still below the peak of EUR57.2 billion reached in 2008. About 76% of Romania’s imports came from EU member states.
Vehicles amounted to 42% of overall exports and 35% of the imports in 2013, while other manufactured items made up for 32.5% of Romanian exports and 29.8% of imports.
Romania’s trade deficit narrowed to EUR9.6 billion in 2012, from EUR9.67 billion a year earlier.