Increasing exports and imports at two months in 2015. Trade deficit keeps narrowing

Romania’s exports and imports rose between January and February 28, 2015, with exports recording a faster growth: 3.6 percent year-on-year, whilst imports advanced by 3.3 percent. 

The value of exports came to almost EUR8.6 billion, whilst imports totaled approximately EUR9.14 billion in the first two months of the year, according to the preliminary estimations of the National Institute of Statistics (INSSE).

Higher growth has been recorded in February 2015 versus January 2015, in terms of both exports and imports. Yet, imports recorded a nearly double growth rate. Hence, exports level reached EUR4.4 billion after a 4.9 percent advance compared to the previous month, whereas imports, which amounted to circa EUR4.8 billion rose by 9.4 percent against January.

As a result, the trade deficit corresponding to the first two months of 2015 narrowed to about EUR563 million (EUR4.7 million less than in 2014), but it grew in February 2015 over the previous month.

According to the INSSE report, within January 1 and February 28, 2015, the following groups of products - transport equipment and vehicles and other manufactured products, have substantially influenced the structure of exports and imports.

As for intra-community trade (Intra EU28), in the first two months of 2015, the deliveries amounted to about EUR6.4 billion, equivalent to 74.1 percent of the total exports, while the arrivals totaled EUR7.1 billion, meaning 77.7 percent of the total imports. 

The extra-community trade had a much smaller share in exports and imports – deliveries represent nearly 29 percent of the total exports and the arrivals, about 25 percent of the imports.