Exports exceed $1bn threshold

Exports in March posted a new record high since 1989. FOB exports exceeded the monthly threshold of 1 billion dollars, amounting to 1,046.7 million dollars.

After a slight respite in February, when exports slowed down, they resumed their mission as the most important engine of economic growth.

According to statistics, March exports increased by 13.8% against the previous month and by 21.2% against last year’s monthly average.

Romania’s Q1 exports were worth 2.8 billion dollars, up 20% against the year-ago period. Imports maintained the February level, amounting to 1.2 billion dollars, up only 1.7% against the previous month. Expenditures generated by imports were 17% higher than last year’s monthly average.

Romania’s Q1 imports exceeded 3.6 billion dollars, 36.8% against the year-ago period. Over the first three months of the year, Romanian imports exceeded 3.6 billion dollars, up 36.8% as compared to Q1, 2000.

The trade deficit was worth 227.7 million dollars in March 2001, against 168.8 million dollars in March 2000. Romania’s Q1 trade deficit amounted to more than 820 million dollars, three times higher than the year-ago period.

Five categories of stuffs derived 70% of revenues obtained by Romanian companies dealing with foreign trade.

The bulk of exports, namely 26%, were clothes and textiles. Their value stood at 743 million dollars, up 21% against the first three months of 2000.

Machines and mechanical and electric equipment, sound and image display and recording equipment ranked second in March’s exports, bringing in about 500 million dollars over the first three months of the year, up 61% against the year-ago period.

Metallurgical products ranked third, with a 13.3% share, while footwear, with 9% and ores, with 6.8%, were next on the list of Q1 exports. Exports to the developed countries posted the higher increase, namely 26.3%.