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Prognosis: Romania's 2016 foreign trade deficit - 5.9 percent of GDP
The National Prognosis Commission (CNP) has upwardly adjusted to 5.9 percent of the Gross Domestic Product (GDP) its forecast of Romania's 2016 foreign trade deficit, according to the winter 2016 estimates in the 2015-2019 medium-term forecasts.
The autumn estimates show a trade deficit of 4.9 percent of the GDP.
According to the same estimates, Romania should record FOB exports worth 57.9 billion euros, up 6 percent from 2015, and CIF imports of 67.85 billion euros adding to a 7.8 percent rise from the previous year.
The trade deficit forecasts have been upwardly adjusted for the next years as well, to 6.1 percent of the GDP in 2017 from 5.1 percent autumn estimates; to 6.4 percent of the GDP in 2018 (5.4 of the GDP autumn estimates) and to 6.7 percent on 2019 (5.7 percent of the GDP in autumn estimates).
Romania's 2016 exports to other EU countries should stand at 42.94 billion euros (up 6.7 percent from the year before) while intra-UE imports should reach 51.63 billion euros (up 6.3 percent from 2015), which should give a deficit of 9.95 billion euros disfavouring Romania.