Romania’s trade deficit reaches highest level since end-2008

The trade deficit will grow, as imports will increase at a higher pace than exports, Radulescu explained, reports local Ziarul Financiar.

Exports and imports of goods will reach historic highs in 2017 in nominal terms, due to post-crisis economic consolidation at European level, according to Banca Transilvania’s scenario.

Exports of goods rose by 9.6% in the first six months of the year compared to the same period in 2016, reaching EUR 30.9 billion. Meanwhile, imports went up by 12.4% year-on-year to EUR 36.7 billion. The trade balance recorded a deficit of EUR 5.8 billion in the first half of the year, up 30.2% year-on-year.

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