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Romania's trade gap widens 25% y/y in Jan-July

Romania's trade gap widens 25% y/y in Jan-July Romania

BUCHAREST (Romania), September 9 (SeeNews) - Romania's trade gap widened by 25% on the year to an estimated 9.48 billion euro ($10.5 billion) in the first seven months of 2019, the statistical office, INS, said on Monday.

Exports and imports rose by 2.1% and 5.8%, respectively, in the period January-July, INS said in a statement.

The European Union absorbed 77.1% of Romania's exports in the period under review, and accounted for 74.7% of the country's imports.

Machinery and transport equipment accounted for 48% of Romanian exports and 37.2% of imports, while other manufactured goods made up 32.2% of exports and 30.4% of imports.

In July alone, Romania's exports fell 1% on the year, while imports increased by 5.9%.

Romania's trade deficit widened by an annual 17% to 15.1 billion euro in 2018.

($= 0.9065 euro)