Trade deficit drops by over 3bln euros in Q1

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FOB – CIF trade deficit stood at 8.479 billion lei (1.995 billion euros) in the first three months of 2009, by 10.289 billion lei (3.102 billion euros) lower than during the similar period in 2008, National Statistics Institute (INS) data say.

The FOB exports posed for 27.978 billion lei (6.56 1 billion euros), while the CIF imports for 36.458 billion lei (8.556 billion euros) in the Q1, 2009.
Compared to the same time span last year, the exports dwindled by 6.7 percent in national leu currency terms and by 19.4 percent in euro terms, while the imports went down by 25.2 for in leu terms and by 35.4 percent in euros.

The commodity exchanges with the European Union countries amounted to 20.990 billion lei (4.918 billion euros) worth of outflows, and at 26.897 billion lei (6.302 billion euros) worth of inflows, representing 75 percent of the total exports and 73.8 percent of the total imports in Q 1, 2009.

It was the Romanian currency’s depreciation by 14.6 percent in Jan., by 17.3 percent in Feb. and by 15.1 percent in March 2009 compared to the same months in 2008 that brought about the difference between the dynamic calculated based on the figures in lei and that in euros.

Products such as transport vehicles and equipment (40.6 percent for exports and 32.2 percent for imports) and other manufactured products, namely 37.8 percent for the exports and 32.2 for the imports respectively scored important proportions over the first three months of 2009.

Processed products, mainly classified according to the raw materials they use, namely iron, steel, rubber, metal, etc, and several other manufactured items such as clothes and accessories, belong to the category of other manufactured products.

In this March, FOB exports totaled 10.970 billion lei, namely 2.559 billion euros, and the CIF imports 13.396 billion lei (3.126 million euros), say INS preliminary estimates.

The FOB-CIF trade deficit amounted to 2.425 billion lei or 566.1 million euros, in March 2009, by 5.271 million lei (2.514 billion euros) lower than in March 2008.

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