Romania's commercial deficit was 11.58 billion lei / 2.81 billion euros in the first quarter of 2010, namely 1.74 billion lei / 329.8 million euros lower than Q1 in 2009, A Romanian Institute of National Statistics (INS) communiqué shows. Romania imports more than it exports when it comes to chemical products, fuel and food. It imports more than imports when it comes to raw materials and imports almost as much at it exports when it comes to cars and transport equipment.
Q1: Imports worth of 13.6 billion euros and 10.8 billion euros exports
In figures, the exports in the first three months of the year amounted to 10.8 billion euros, while imports amounted to 13.6 billion euros. Comparing this data to the figures recorded same time last year, INS notes that exports went up 19.4% for the values expressed in lei and 23.4% if expressed in euros, while imports went up 10.9% if translated in lei and 14.4% if translated in euros.
The difference between the lei and the euro dynamic was triggered by the appreciation of the national currency in January - April 2010, with values around 1.6% - 4.5% against the similar 2009 months.
In April 2009, according to INS forecast, exports recorded11.8 billion lei / 2.88 billion euros, and the value of imports amounted to 15.35 billion lei / 3.73 billion euros. The April 2010 commercial deficit was, thus, 3.49 billion lei / 850.5 million euros, 375.3 million lei / 66.7 million euros lower than in April 2009.
We export raw goods, but import more food and fuel than we supply
INS data also show that exports have drooped in April compared to March, both to the EU and to the countries outside the Union. Romania's exceeding in raw materials (plus 0.7 billion lei), while the state is recording a deficit in the other product categories. In food, drinks and tobacco, Romania imported twice as much as it exported: 4.2 billion lei against 2.1 billion lei.
As for chemical and related products, the deficit is even bigger, imports going up to 7.85 billion lei, while the exported Romanian products raised only 2.5 billion lei. The situation is similar in terms of fuel, where Romania imported goods worth of 5.77 billion lei in Q1 and exported in the region of 2.8 billion lei.
In terms of cars and transport equipment, exports are inferior to imports, but the difference is very narrow: Romania supplied goods outside its borders worth of 18.95 billion lei, while it imported goods worth of 19.41 billions.