CNP estimates 16.47 bln euros in nine-month trade balance deficit

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The nine-month trade balance deficit is estimated at 16.47 billion euros compared to 15 billion euros over January – September 2007, reveals the Q3 trend survey published by the National Forecast Commission (CNP).
 
In H1 2008 the trade balance deficit was 10.793 billion euros, as to 9.7 billion euros in the interval January – June 2007.
 
For Q3 2008, CNP forecast a 23% rise in commodity exports compared to the interval July – September 2007, corresponding to a value of some 9.08 billion euros.
 
An analysis over the first nine months of the current year compared to the same period of 2007 reveals an increase in total exports of some 20%, corresponding to a value of exports of around 25.83 billion euro over the interval January – September 2008.
 
The estimated amount of commodity imports required in Q3 to ensure the anticipated production levels and support exports stands around 14.75 billion euros, which represents a 16.5% increase from July – September 2007.
 
Total imports are expected to rise 15.7% over the first three quarters of the year, a value of 42.3 billion euros.
 
Compared to the similar period of 2007, total commodity imports will rely mainly on a growth in investment imports (21.7%) and less on consumption imports (an advance of some 9%), reads the CNP document.
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