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Romania's trade gap widens 11.1% y/y in Jan-May

Jul 10, 2024, 12:41:26 PMArticle by Alexandru Cristea
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July 10 (SeeNews) - Romania’s trade deficit widened by 11.1% on the year to 12.288 billion euro ($13.301 billion) in the first five months of 2024, the National Statistics Board (INS) said on Wednesday.

Romania's trade gap widens 11.1% y/y in Jan-May
Romania's trade gap as of May'24. Source: INS

Exports decreased by an annual 2.9% to 38.536 billion euro in the five months through May, while imports edged up by 0.2% to 50.824 billion euro, INS said in a statement.

In May alone, exports dropped by 16.2% on the year to 7.242 billion euro, while imports fell by 5.6% to 2.972 billion euro.

The European Union absorbed 72.7% of Romania’s exports in the first five months of 2024 and accounted for 73.8% of the country’s imports.

Machinery and transport equipment continued to top the list of the most traded product groups in the review period, representing 47.1% of Romania’s exports and 36.5% of imports. Other manufactured goods followed as the second most traded product group, representing 29.6% of exports and 28.5% of imports.

($ = 0.9239 euro)

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