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Romania trade deficit closes in slowly but steadily to new record high

Marţi, 3 octombrie 2006, 0:00

Romania’s trade deficit grew to 8.43 billion euro in the first eight months of 2006 as a faster pace of imports upped it 2.6 billion euro compared to the same period last year, the National Statistics Institute announced on Tuesday.

According to the Economy Ministry in Bucharest, the higher demand for imports was generated by growing industrial production, investment and consumption.

In the mentioned period, exports reached 16.8 billion euro, up 17.3% compared to the first eight months of 2005. But imports grew 25.2% in the same period, exceeding 25.3 billion euro.

Romania’s overall trade deficit reached a record 10 billion euro last year.

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