In Jan-Apr, exports were up 16.7% on the year to EUR10.74 billion, while imports increased at a slower pace of 15.8% on the year to EUR17.65 billion.
In April alone, the country’s trade gap widened 23% on the year to EUR2.02 billion compared with EUR1.64 billion in the same month last year. Imports rose 24.2% on the year to EUR4.759 billion, while exports were up 25.1% on the year to EUR2.739 billion.
The European Union, which Romania joined in 2007, was once again the country’s main source of imports in Jan-Apr, accounting for nearly EUR12.38 billion. Exports to the E.U. bloc of 27 countries represented EUR7.54 billion of Romania’s total exports.
Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated including such costs. The statistics institute said trade data for April are estimates.
In 2007, Romania’s trade deficit widened nearly 44.4% in 2007 to EUR21.5 billion from EUR14.89 billion in 2006, driven by higher imports from E.U. states. The Romanian authorities forecast that in 2008 the country’s trade gap would be around EUR24 billion.