Romania's trade deficit narrows in 2023-Xinhua

Romania's trade deficit narrows in 2023

Source: Xinhua

Editor: huaxia

2024-02-10 01:05:46

BUCHAREST, Feb. 9 (Xinhua) -- Romania's trade deficit (FOB/CIF) witnessed a decrease of 15.1 percent in 2023 compared to the previous year, according to the latest data released by the National Institute of Statistics.

The trade balance deficit stood at 28.947 billion euros (31.168 billion U.S. dollars), marking a reduction of 5.142 billion euros from 2022.

Key figures revealed that in 2023, exports reached 93.098 billion euros, indicating a modest increase of 1.3 percent, while imports totaled 122.045 billion euros, showing a decline of 3.2 percent compared to the previous year.

The report highlighted machinery and transport equipment as well as other manufactured products as the dominant product groups contributing to Romania's trade activities during the period.

Machinery and transport equipment accounted for 44.8 percent of exports and 36.8 percent of imports, while other manufactured products represented 29.8 percent of exports and 28.7 percent of imports.

Intra-EU trade exchanges played a significant role in Romania's trade dynamics, amounting to 67.574 billion euros for outbound and 89.5 billion euros for inbound. These figures constituted 72.6 percent of total exports and 73.3 percent of total imports. (1 euro = 1.08 U.S. dollar)