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The deficit of Romania in the trade with food produce, up by almost 66% in Q1

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The deficit of Romania in the trade with food produce has increased by almost 66% in Q1 this year, as compared to the similar period of 2020, up to 755.34 million euro, according to the data supplied by the ministry of agriculture and rural development (MADR).

In the first three months of 2020, the deficit recorded in the trade with food produce was 455.5 million euro.

In the relation with the EU, Romania had a deficit of 1.154 billion euro in Q1 this year, but in the trade with the extra-community recorded an excess of 398.93 million euro. Last year, during the period under analysis, the deficit on intra-community exchanges got closer to 963 million euro, while for the third countries the excess surpassed 507 million euro.

According to the statistics data, Romania exported, between January – March 2021, the food produce, worth 1.74 billion euro, dropping against the similar period of 2020, when the revenue from exports to the countries intra and extra-community surpassed 1.97 billion euro.

On the other hand, for imports of food produce was spent during the first three months of 2020 more than 2.49 billion euro, while during the similar period of 2020, the sums where slightly lower worth 2.43 billion euro.

According to the data MADR, in the top of exported food which brought good revenue in the Q1 2021 were: corn, with a total of 405.38 million euro, sunflower seeds (173.45 million euro), wheat and meslin (170.28 million euro) cigars, cigarettes (158.25 million euro) and other types of tobacco and replacers of tobacco (74.88 million euro).

Corn is the first and in the top 5 of imported produce imported during January – March 2021, worth 157.86 million euro, followed by refrigerated or frozen pork – 123.13 million euro. Similarly, in Q1 there were spent almost 103 million euro for bakery products, biscuits, 94.46 million euro for products used for animal feeding and 92.07 million euro for non-defined food produce.

Romania closed the year 2020 with a deficit of almost two billion euro in the trade with food produce, as imports went up to 8.9 billion euro and exports diminished down to 6.9 billion euro, according to MADR data.

Only with the EU states, the deficit surpassed 3.175 billion euro (2.654 billion euro in 2019) while the excess recorded with extra-community countries dropped to 1.236 billion euro last year, from 1.428 billion euro in 2019.

The value of the exports diminished by 2.9% in 2020, worth 6.99 billion euro, while the imports increased from the value point of view by 6% up to 8.92 billion euro.

(Photo:https://cursdeguvernare.ro/)

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