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Romania's trade balance deficit (FOB/CIF) increased to 3.645 billion euro in the first quarter of the year, by 921.8 million higher than the one recorded in January-March 2018, against the backdrop of exports worth 17.532 billion euro and of imports amounting to 21.177 billion euro, according to data released on Friday by the National Institute of Statistics (INS).
Important shares in exports and imports in the first three months of 2019 were held by: machinery and transport equipment (48.1 percent exports and 36.9 percent imports) and other manufactured products (32.2 percent exports and 30.5 percent imports).
The value of intra-EU28 commercial exchanges in this period was 13.642 billion in shipments and 15.95 billion in imports, making up 77.8 percent of total exports and 75.3 percent of total imports.
With regard to the value of extra-EU 28 commercial exchanges in the first three months, it was 3.89 billion euro for exports and 5.227 billion euro for imports, accounting for 22.2 percent of total exports and 24.7 percent of total imports.
In March 2019, FOB exports amounted to 6.129 billion euro and CIF imports totaled 7.361 billion euro, resulting in a deficit of 1.232 billion euro.
Compared to March 2018, exports increased by 0.4 percent and imports increased by 2.7 percent.
FOB price (free on board) represents the price at the border of the exporting country, which includes the value of the commodity, all transport expenditures to the shipping point as well as all the fees for the commodity to be loaded on board.
CIF price (cost, insurance, freight) represents the price at the border of the importing country, including both components of FOB price and the cost of insurance as well as the cost of the international transport.
