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Romania's trade deficit dropped by 3.45% in the first nine months
Romania's trade deficit decreased in the first nine months of the year by 3.45% to 6.89 billion euro from 7.14 billion euro in the same period in 2009, Romania's National Statistics Institute data reveals. The decrease of the deficit was due to a fast increase of exports than imports. In the metioned period, exports increased by 26.5% to 26.83 billion euro and imports advanced by 18.9% to 33.73 billion euro.
Vehicles made up for the bulk of exports and imports in the January-September period, amounting to 42% of overall exports and 35% of the imports, the data showed.
In September alone, Romania's trade deficit was of EUR784.1 million, tighter than EUR1.2 billion in the same month of 2009.Exports were at EUR3.5 billion in September, up 35% on the year, while imports increased by 14% to EUR4.3 billion.Compared with August 2010, exports rose 26.4%, while imports were up 27.5% in September.Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated including such costs.Romania's trade deficit narrowed to EUR9.74 billion in 2009, from EUR23.51 billion a year earlier, with imports falling more rapidly than the exports.