FOB (free on board) exports peaked to a record-high in March, surging to 1,616.9 million euros, up 20.5% from the year-ago period and 24.3% more than last year's average. As compared to February 2004, the level of exports went up 8.2%.
According to data released by the National Statistics Institute (INS), exports calculated in FOB prices in the first quarter amounted to 4.32 billion euros, up 14.6% from the corresponding period of 2003.
In the first three months of 2004, Romania imported commodities worth 5.34 billion euros in CIF prices, accounting for a 17.7% increase against 2003.
Imports also outpaced exports in March. Thus, Romania imported commodities worth 2.03 billion euros, up 22.6% from March 2003, whereas exports only grew 20.5%, to 1.61 billion euros.
Consequently, the trade deficit reached 421.9 million euros in March, 101.6 million euros more than in the year-ago period. Therefore, the negative trade balance surged 33%, to 1.016 billion euros, as compared to the 763.5 million euros logged in January-March 2003.
Despite the export performances, the FOB/CIF trade deficit came to 421.9 million euros in March 2004, amounting to 1,016.1 million euros in the first quarter of 2004. Against March 2003, the trade deficit climbed 101.6 million euros. In FOB/CIF prices, the deficit went up to 605 million euros in the first quarter, reaching 265 million euros in March alone.
The deficit soared as imports in CIF prices have clearly outpaced exports, reaching 2,039 million euros in March 2004, up 15.3% from February.
liviu.chiru@zf.ro
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