Romania’s trade deficit is galloping towards an all-time high: after eight months, it has reached 3.3bn dollars (3bn euros), and it may even soar to $4.6bn by the end of the year. Consequently, this year’s trade deficit is very likely to exceed the $4.1bn record posted in 2001.
This evolution is however countered by the improved export-import structure. Thus, the category of machinery and equipment has come to account for almost one quarter of exports (23.1%), with 12% growth in euros in the first eight months, compared to a 9% global growth of imports.
Moreover, the same category of goods is now accounting for 15.5% of eight-month exports, following a 10.2% growth in euros. In fact, this was the highest growth pace of all five categories of goods dominating the structure of Romanian exports: clothing and textiles, machinery and mechanical devices, metallurgic products, footwear and mineral products.
After peaking in July, both exports and imports plunged in August, in Romania and the European Union, probably due to the holidays. Exports dropped 17.6%, to 1.2 billion euros, whereas imports amounted to 1.5bn euros, down 20.5% from the previous month.
sorin.pislaru@zf.ro