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Romania’s trade deficit widens

Romania’s foreign trade deficit widened by more than 2.17 billion euros (2.45 billion U.S. dollars), to 15.13 billion euros in 2018, showed the latest data with the National Institute of Statistics (INS) released on Monday, Feb. 11.

According to the INS, the FOB exports increased by 8.1 percent, year on year, to a total of 67.732 billion euros, while the CIF imports went up by 9.6 percent to 82.865 billion euros.

Imports have been rising since 2011, due to an increase in consumption and the input needs of export-oriented industrial activity, according to local analysts.

Romania exports mostly machinery and transport equipment, raw materials, and miscellaneous manufactured articles like textiles and footwear, while it imports machinery and transport equipment, raw materials, chemicals and fuels.

 

Source: Xinhua
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