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Official statistics: Romania's Jan - Feb trade deficit at 2.6 billion euros

export, import

Romania's (FOB/CIF) trade balance increased by 170.8 million euros in the first two months of the year compared to the same period of 2019, to almost 2.6 billion euros, shows the data published by the National Institute of Statistics (INS) on Thursday.

Official statistics also shows that between January 1 and February 29, 2020, FOB exports totaled 11.634 billion euros, and CIF imports reached 14.231 billion euros. In the same period, exports increased by 2 pct, while imports advanced by 2.9 pct YoY.

INS data shows that in February 2020, FOB exports totaled 5.942 billion euros, and CIF imports amounted to 7.219 billion euros, resulting in a deficit of 1.277 billion euros. Compared to February 2019, exports for this year's same month increased by 0.8 pct and imports by 2.4 pct.

Between January 1 and February 29, the product groups with a significant share of the country's trade were: machinery and transport equipment (48.6 pct for export and 36.6 pct for import) and other manufactured products (30.5 pct for export, respectively 29.7 pct for import).

The value of intra-Community (intra-EU28) trade exchanges during the reporting period was 8.627 billion euros on the outbound and 10.380 billion euros on the inbound, representing 74.2 pct of total exports and 72.9 pct of total imports, respectively.

According to the quoted source, the value of extra-EU28 trade exchanges from January 1 to February 29, 2020 was 3.007 billion euros for exports and 3.850 billion euros for imports, the equivalent of 25.8 pct of total exports and 27.1 pct of total imports.

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