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Romania's trade gap widens 30% y/y in Jan-May

Romania's trade gap widens 30% y/y in Jan-May Romania's Constanta port

BUCHAREST (Romania), July 10 (SeeNews) - Romania's trade gap widened by 30% on the year to an estimated 6.52 billion euro ($7.31 billion) in the first five months of 2019, the statistical office, INS, said on Wednesday.

Exports and imports rose by 4.4% and 8.3%, respectively, in the period January-May, INS said in a statement.

The European Union absorbed 77.3% of Romania's exports in the period under review, and accounted for 75.1% of the country's imports.

Machinery and transport equipment accounted for 48.3% of Romanian exports and 36.9% of imports, while other manufactured goods made up 32% of exports and 34% of imports.

In May alone, Romania's exports rose 6.8% on the year, while imports increased 8.5%.

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

($=0.8909 euro)