Trade deficit down 7 billion euros in H1

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Trade FOB-CIF deficit in H1, 2009 stood at 18.35 billion euros (4.340 billion euros), down by 22.68 billion lei (6.85 8 billion euros) compared to H1 one year ago, according to figures carried on Monday by the National Statistics Institute (INS).

FOB exports in H1 2009 stood at 57.405 billion lei (13.562 billion euros) down by 8 percent for values in lei terms and 20.3 percent for values in euro terms, compared to H1, 2008.

According to INS figures, CIF imports were of 75.754 billion lei (17.903 billion euros), down by 26.8 percent for values in lei terms and by 36.6 percent for values in euro terms.

The value of intra-community exchanges of goods in H1 2009 was of 43.734 billion lei (10.103 billion euros) for exports and 55.795 (13. 192 billion euros) for imports, accounting for 74.4 percent of total exports and 73.7 percent of total imports.

The difference between the dynamic calculated based on values in lei terms and the one of values in euro terms was prompted by the depreciation of national currency over January-June 2009 with values accounting for 13.9 percent and 17.3 percent compared to the same months in 2008.

According to National Statistics Institute preliminary estimates, FOB-CIF commercial deficit in June was of 2.807 billion lei (668.3 million euros), down by 4.829 billion lei (1.423 billion euros) than in June 2008.

FOB exports totaled 10.654 billion lei (2.537 billion euros) and CIF imports totaled 13.462 billion lei (3.205 billion euros). Compared to June 2008, exports went down 5.1 percent for values in lei terms (17.5 percent for values in euro terms) and imports went down by 28.6 percent for values in lei terms (38 percent for values in euro terms).

Compared to June 2009, exports of June 2009 grew by 11.5 percent for values in lei terms (11.2 percent for values in euro terms) and imports grew 6.6 percent for values in lei terms (6.3 percent f or values in euro terms).

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