Imports heavier this time

Trade deficit crossed the half-billion boundary to 515 million euros in September, given that imports gained 21.7% from the previous month and the exports were slower, progressing by a mere 9.3%. If looking at the value, the shipments of Romanian-made goods to international markets amounted to 1.34bn euros, while imports reached 1.86bn euros. Nine months through the year, the trade deficit reached 3.5bn euros out of the about 4.6bn euro full-year target set by the Government. Romania has exported 11.5bn euros’ worth since the beginning of the year, 7.6% more than in the same time last year. Clothing and textiles remain the top exported Romanian commodities, accounting for 2.98bn euros. Imports kept weighing heavily in the trade balance over the first nine months, amounting to 15.1bn euros. The highest growth, 16.2%, was registered by the purchases of machinery and mechanical equipment, as well as of electrical plant and equipment. At the same time, the current account of the balance of payments saw 1,395bn euro deficit at the end of August, 48.1% higher than the deficit in the first eight months of 2002, mainly because of the negative goods and services balance. NBR data show the commodity trade witnessed 2.01bn euro deficit, while the negative revenue balance went up slightly from 410 million euros to 440 million euros. ZF