Both exports and imports rose between January and September 30, 2014, with exports recording a faster growth: 7.1 percent in euro-denominated currency (8.1 percent, based on lei-currency), while imports advanced by 6.6 percent (7.6 percent, respectively). Hence, the value of exports came to 39 billion euro (173.9 billion lei), whilst imports totaled 43.3 billion euro (192 billion lei) in the first nine months of the year, according to the preliminary estimations of the National Institute of Statistics (INSSE).
Higher growth has been recorded in September 2014 as compared with September 2013. Exports level reached 4.9 billion euro (21.6 billion lei) after a 10.2 percent increase year-on-year (9.1 percent advance in lei-denominated currency). The value of imports increased by about 10.7 percent (9.6 percent when taken into consideration the lei-denominated currency), totaling nearly 5.4 billion euro (23.8 billion lei).
As for the trade deficit, the fast growth in terms of value of imports in September 2014 generated a trade deficit which was higher by 14.25 percent year-on-year based on euro-denominated currency: 485.4 million euro, while in September 2013, it amounted to 416.2 million euro. The evolution within the first nine months of the year, though, shows a much less accelerated growth, the trade deficit increasing by 2.93 percent to approximately 4.3 billion euro (by 3.18 percent to 19 billion lei, respectively).
Intra-community trade (Intra EU28) in the first nine months this year accounted for 70.8 percent of the total exports, deliveries amounting to about 27.6 billion euro (123 billion lei) and represented 75 percent of the total imports whose cumulated value added up to approximately 32.5 billion euro (144.6 billion lei). The extra-community trade had a smaller share, in exports and imports – deliveries represented 29.2 percent of the total exports and the arrivals, 25 percent of the imports.