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Romania’s trade gap increases 30% y/y in Jan-Nov

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Romania’s National Institute for Statistics (INS) announced on Monday that the country’s trade deficit rose by €4.92bln year-on-year in the first eleven months of 2021 to an estimated €21.4bln, according to See News.

“Exports increased by an annual 17.5% and imports rose 21.5% on the year in January-November,” INS said in a statement.

The European Union absorbed 72.8% of Romania’s exports in the period under review and accounted for 72.6% of the country’s imports.

Machinery and transport equipment accounted for 45.2% of Romanian exports and 35.3% of imports, while other manufactured goods made up 30.6% of exports and 30% of imports during the first eleven months of 2021.

Romania’s trade gap widened by 6% on the year to an estimated €18.38bln in 2020.