Romania’s trade deficit reaches new record in October

Romania’s trade deficit reaches new record in October

/ bne IntelliNews

By bne IntelliNews December 11, 2024

Romania’s trade deficit (chart) surged by 33% y/y to reach a new record of €3.72bn in October — more than the deficit in December last year, when the external gap is seasonally the widest.

Imports increased by 8.6% y/y to €12.2bn in October 2024, an all-time record as well. At the same time, exports advanced by only 0.5% y/y to €8.45bn.

In 12 months to October, Romania’s exports contracted by 1.8% y/y to €92.1bn. Imports, by contrast, increased by 2.0% y/y to €125.1bn.

The detailed data provided by the statistics office for the first ten months of the year indicate significant increase in the imports of chemicals (+7.5% y/y to 14.1% of total imports), slightly processed raw materials (+2.1% y/y to 17.3% of total) and food (+4.3% y/y to 8.9% of total).

On export side, exports of vehicles increased by 4.2% y/y to 47% of total exports, compared to slower growth of 2.7% y/y for imports of vehicles (36.4% of imports). A significant increase was seen in the category of beverages and tobacco, which grew by 17.3% y/y to reach 2.7% of total exports. Exports of petroleum products contracted by 14.2% y/y to only 5% of total exports.

#romania #export #import #deficit #macro #bneChart

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Month-on-month inflation was 0.5%.

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Slovak industry maintains growth of 1.3% y/y in October

North Macedonia’s FX reserves soar 24.1% y/y at end-November

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