Romania’s exports contracted to EUR 11.5 billion in the second quarter (Q2) of the year, down 33.5% compared to the same period last year, according to Romania-Insider.com.
However, the situation improved gradually from the steep 47% annual contraction seen in April to a more moderate 12% decline in June, according to data from the National Statistics Institute (INS).
For the whole first half of the year (H1), the value of Romanian exports shrank by 18%.
The country’s imports also decreased in the second quarter of the year, by 26.4% year-on-year to EUR 15.7 bln, driven by subdued consumption and industrial activity.
The resumption in foreign trade activities was visile in the imports’ dynamics as well: they contracted by only 7.9% year-on-year in June.
Overall, Romania’s imports contracted by 13% in the first half of the year.
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