Trade deficit down 5 pc in 2010
The trade deficit slumped by almost 5 percent last year, at RON 39.8 billion, as exports rose at a faster pace than imports, according to data released on the 9th of February, 2011, by the National Institute of statistics (INS). Thus, the trade deficit continued its falling trend, which started in 2009, as the impact of the international economic crisis started to be felt in Romania.
In 2009, the year when the economy dropped by 7.1 percent, the trade deficit reported the steepest fall, of 52 percent, compared to the preceding year. The trade deficit, the difference between the country's total exports' value and the imports' value, amounted, in 2010, to RON 2.02 billion (EUR 409 million), lower than the preceding year's figures. Last year's exports rose by 27.3 percent, at RON 156.97 billion (EUR 37.25 billion), while imports rose less steeply, by 19.1 pc, at RON 196.78 billion (EUR 46.71 billion).
The largest share of Romania's trade last year was conducted with the European Union. Thus, the value of intra-community commodity exchanges amounted to RON 113.28 billion (EUR 26.87 billion), under goods sent abroad, and RON 142.62 billion (EUR 33.83 billion), under goods introduced into the country, accounting for 72.2 pc of total exports and, respectively, 72.5 pc of total imports. The largest portion of transactions conducted last year involved cars and transportation equipment (42.4 pc of exports and 35.3 pc of imports), followed by other manufactured goods (33.3 pc of exports and 30.9 pc of imports).
Published on 10.02.2011
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