The level of exports in RON remained constant in June against last year, while imports advanced by 12%. As a result, the trade deficit widened by 65.2% in the first half of the year, to 32.21bn RON (9.66 billion euros).
Against last June, exports were at approximately the same level in RON and increased by 9.2% in euros. Imports surged by 11.8% in RON and by 22.2% in euros.
Exports in June dropped for the second month in a row, from 8.1bn RON (2.46bn euros) in May to 8bn RON (2.48bn euros) in June, with this indicator remaining constant for the entire first half of 2007, in line with data released by the National Statistics Office (INS).
The trade gap amounted to 32.21 billion RON (9.66bn euros) in the first six months of the year, an 11.56bn RON (3.82bn euros) wider margin than in the same period of 2006, as imports continued to grow at twice the rate of exports, according to INS information.
In June, exports stood at 8.06bn RON (2.4bn euros), while imports totalled 13bn RON (4.2bn euros).
Against May, exports in June dropped by 0.6% in RON, but increased by 1.2% in euros. Imports shrank by 3.6% in RON and by 1.9% in euros.
Exports operated in the first six months of the year amounted to 47.07bn RON, 4.9% more than in the first half of last year. Imports in the first half of 2007 reached 79.2bn RON, up 21% from the first six months of last year.
The increase of imports against exports registered in H1 was generated by the lower export levels of oil products (which in terms of quantity registered almost half the level of H1, 2006), by the continued decline of outsourcing operations, particularly for textiles, as well as by the removal in 2007 of customs regimes initiated before EU integration, for goods which were temporarily introduced to customs warehouses and free zones.
In terms of trade with EU member states, a negative balance of 7.03 billion euros was registered.
In line with provisional data, in 2006 the trade gap widened by 44.4%, to 14.89 billion euros, from 10.31bn euros in 2005.
The National Prognosis Commission estimated the trade deficit would stand at 17.87 billion euros this year, amid exports worth 30.25bn euros, up 17%, and imports standing at 48.12bn euros, up 18.1% against 2006.
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