Romanian exports close to $14.5bn annual target

Romanian exports started the year in full gear, with January revenues amounting to $1.24bn, up 36% from the same month in 2002.
Exports maintained above $1.2bn for the fifth month in a row, which will lead to a positive revision of the 2003 export volume forecast. If this pace maintains, the exports could come to total $14.5bn this year. Romania exported $13.9bn’s worth last year, approximately $1.5bn above estimates.
Romania’s trade deficit in January reached $218.4 million, down 50.8% since December 2002, when it amounted to $444.3 million, and down 17% since the year-ago period, when it totalled $263.6 million.
Apparel (either knitwear or textile-made) is still accounting for the largest share in the total exports, 24.5%, with deliveries to the foreign market amounting to $304.7 million, up 24.4% compared with January 2002.
The fastest moving segment compared with January 2002 was that of metallurgical products, as exports went up 56% to $164.7 million. A spectacular jump was also registered by the electrical plant and equipment exports, which increased 41.4%, compared with January 2002, reaching $198 million.
Exports to the European Union countries went up 28.5% compared with the corresponding month of last year. The top export destinations for Romanian products are Italy – 24.1% of the total, followed by Germany – 16.9% and France – 6.8%.
CIF imports in January totalled $1.46bn, 24.4% higher than in January 2002, but 1.6% lower than last year’s average. Imports went down 11.8% compared with December last year.
Electrical equipment, mechanical machinery and devices, as well as audio and video players/recorders keep being imported in large amounts, accounting for 22.5% of the total and reaching $329.3 million, 30.2% more than in January 2002.