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Romania’s trade gap expands 45% y/y in H1

Romania’s trade gap expands 45% y/y in H1 Romania’s trade balance - January 2020 - June 2022 Source: INS

BUCHAREST (Romania), August 9 (SeeNews) - Romania’s trade deficit rose by 4.74 billion euro year-on-year in the first six months of 2022 to an estimated 15.43 billion euro ($15.71 billion), the country’s statistical office, INS, said on Tuesday.

Exports increased by an annual 23.9%, while imports increased by 28.5% on the year in the first half of 2022, the INS said in a statement.

The European Union absorbed 72.7% of Romania’s exports in the aforementioned period, and accounted for 70.8% of the country’s total imports.

Machinery and transport equipment accounted for 42.2% of Romania’s exports and 32.6% of imports, while other manufactured goods made up 31.1% of exports and 29.4% of imports over the first six months of 2022.

Romania's trade gap widened by 29% on the year to an estimated 23.7 billion euro in 2021.

($=0.9821 euro)