Slower foreign trade in November 2003

Romania’s trade deficit was about to double in November 2003 form November 2002 to 598 million euros, given that imports had gone up more than 12% in euros and the exports only 0.1%. Exports slowed down by nearly 5% compared with October, though, while imports witnessed an about 10% recoil. This trend occurred against a 20.5% annual ROL depreciation compared to the euro, and a 0.1% appreciation compared to the dollar. One month before the year’s end, Romania’s trade bill amounted to 4.9bn euros. Imports of machinery and equipment, clothing and mineral products slowed down visibly in November. The exports in the first 11 months of 2003 amounted to 14.36bn euros and $16.1 million respectively, that is 6.7% and 27.2% above the level registered in the same time in 2002. ZF