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2019 trade deficit widens to 17.28 bln euros
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In the year 2019, the FOB exports amounted to 69002.8 million euro and the CIF imports amounted to 86283.5 million euro.
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In the year 2019, the exports increased by 1.9% and imports by 4.2%, compared to the year 2018.
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In the year 2019, the FOB-CIF commercial deficit was of 17280.7 million euro, 2164.2 million euro more than in the year 2018.
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In December 2019, the FOB exports amounted to 4826.5 million euro and the CIF imports amounted to 6594.9 million euro, a commercial deficit of 1768.4 million euro being registered.
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Compared to December 2018, the exports increased by 4.9% and the imports increased by 4.5% in December 2019.
Romania's 2019 trade deficit (FOB/CIF) widened to 17.28 billion euros, by 2.16 billion euros more than in 2018, as exports increased by 1.9 percent and imports advanced 4.2 percent, shows data released on Monday by the National Institute of Statistics (INS).
Last year's FOB exports totaled 69 billion euros - up 1.9 pct YoY, while CIF imports stood at 86.29 billion euros, - 4.2 pct higher YoY.
The product groups with a significant share in the country's trade were machines and transport equipment (47.2 percent of exports and 37.2 percent of imports) and other manufactured products (31.7% of exports and 30.4 percent of imports).
Romania's food and livestock exports last year amounted to 4.773 billion euros, representing 6.9 percent of total exports, up 13.1 percent compared to 2018, while imports in the same category totaled 6.762 billion euros, up 11.4 percent YoY. Food and livestock imports accounted for 7.8 percent of total imports.
Drinks and tobacco exports amounted to 1.11 billion euros (+31.9 percent) and imports of such products were 740.1 million euros high (+3.8 percent).
There was a decrease in Romania's exports of non-energy and non-food raw materials (-5.6 percent), mineral fuels, lubricants and derivatives (-5.2 percent) and manufactured goods classified chiefly by material (-1.1 percent). Imports of non-energy and non-food raw materials dropped 3.2 percent, and imports of manufactured goods classified chiefly by raw material dipped 0.3 percent.
Intra-EU 28 exchanges of goods in 2019 amounted to 52.83 billion euros on the outbound and 64.4 billion euros on the inbound, representing 76.6 percent of total exports and 74.6 percent of total imports.
The value of non-EU 28 trade in 2019 was 16.17 billion euros for exports and 21.88 billion euros for imports, accounting for 23.4 percent of total exports and 25.4 percent of total imports.