Exports reach five-year peak in July, 2014: 4.8 billion euro

Exports level hits record-high in July 2014 amounting to 4.8 billion euro (21 billion lei) after a 12.7 percent increase over the previous month - 6.6 percent increase year-on-year, respectively (5.6 percent advance in lei-denominated currency), according the preliminary estimations of the National Institute of Statistics (INSSE). The value of imports also increased by about 10.5 percent compared to the previous month, totaling some 5.3 billion euro (23.3 billion lei) and by 4.8 percent (4 percent, respectively, based on lei-denominated currency) against the corresponding month last year.

Both exports and imports rose between January and July 31, 2014, recording a similar growth rate of 7.5 percent in euro-denominated currency (8.9 percent, based on lei-currency). Hence, the value of exports came to 30.3 billion euro (135 billion lei), whilst imports totaled 33.7 billion euro (150 billion lei).

In July 2014, the trade deficit dropped by nearly 10 percent y-o-y to approximately 520 million euro, yet the evolution within the first seven months of the year shows a trade deficit higher by some 249 million euro compared to the similar period in 2013.

Intra-community trade (Intra EU28) in the first seven months this year accounted for 71.6 percent of the total exports, deliveries amounting to about 97 billion lei (22 billion euro) and represented 75.4 percent of the total imports whose cumulated value added up to approximately 113 billion lei (25.4 billion euro). The extra-community trade had a much smaller share, though, in exports and imports – deliveries represented 28.4 percent of the total exports and the arrivals, 24.6 percent of the imports.