Romania’s foreign trade deficit widens by almost 742.3 million euros five months into 2020

Romania’s foreign trade deficit reached 7.340 trillion euros in the first five months of 2020, up 742.3 million euros from the same period of 2019, according to data released on Friday by the National Institute of Statistics (INS).

According to INS, between January 1 and May 31, 2020, Romania’s FOB exports amounted to 23.752 billion euros, and CIF imports amounted to 31.093 billion euros.

Between January 1 and May 31, 2020, exports decreased by 19 percent, and imports decreased by 13.5 percent, compared with January 1 – May 31, 2019.

According to INS, Romania’s May 2020 FOB exports were standing at 3.755 billion euros, and CIF imports at 5.006 billion euros, giving a deficit of 1.250 billion euros. Compared with May 2019, exports decreased by 40.1 percent and imports by 35.4 percent.

Between January 1 and May 31, 2020, significant shares in the structure of exports and imports are held by transport machinery and equipment (46.3 percent of exports and 35.2 percent of imports) and other manufactured products (30.9 percent of exports and 29.9 percent of imports).

The value of Romania’s intra-EU trade in goods between January 1 and May 31, 2020 was 17.155 billion euros worth of dispatches and 22.668 billion euros worth of arrivals making up 72.2 percent of total exports and 72.9 percent of total imports.

The value of Romania’s extra-EU trade in goods between January 1 and May 31, 2020 was 6.597 billion euros in dispatches and 8.425 billion euros in arrivals, making up 27.8 percent of total exports and 27.1 percent of total imports.

Via Agerpres