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Romania's trade gap widens 20% y/y in Jan-May

Romania's trade gap widens 20% y/y in Jan-May Author: Logwin. License: All rights reserved.

BUCHAREST (Romania), July 12 (SeeNews) - Romania's trade deficit rose by 1.477 billion euro year-on-year in the first five months of 2021 to an estimated 8.84 billion euro ($10.5 billion), the country's statistical office, INS, said on Monday.

Exports jumped by an annual 26% and imports rose 24.6% on the year in January-May, INS said in a statement.

The European Union absorbed 74.1% of Romania's exports in the period under review, and accounted for 73.4% of the country's imports.

Machinery and transport equipment accounted for 48.4% of Romanian exports and 36.6% of imports, while other manufactured goods made up 30.3% of exports and 29.9% of imports during the first five months of 2021.

Romania's trade gap widened by 6% on the year to an estimated 18.38 billion euro in 2020.

($=0.8441 euro)