Romania's foreign trade deficit widens by 2bl euros in 2018; exports advance 8.1pct, imports 9.6pct

Romania's 2018 FOB/CIF foreign trade deficit widened by more than 2.17 billion euros, to 15.133 billion euros, while FOB exports amounted to 67.732 billion euros, and CIF imports standing at 82.865 billion euros, according to data with the National Institute of Statistics (INS) released on Monday.

In 2018, exports grew by 8.1pct, and imports by 9.6pct from 2017.

Significant shares in the composition of the exports and imports were held by machinery and transport equipment (47.3pct of exports; 38pct of imports) and other manufactured products (32.2pct, 30.5pct).

The value of Romania's intra-EU 2018 trade amounted to 51.981 billion euros in exports and 61.874 billion in imports, accounting for 76.7pct of Romania's total exports and 74.7pct of its total imports.

The value of Romania's extra-EU trade in 2018 was standing at 15.751 billion worth of exports and 20.991 billion euros worth of imports, accounting for 23.3pct of Romania's total exports and 25.3pct of its total imports.

FOB price (free on board) represents the price at the border of the exporting country, which includes the value of the commodity, all transport expenditures to the shipping point as well as all the fees for the commodity to be loaded on board.

CIF price (cost, insurance, freight) represents the price at the border of the importing country, including both components of FOB price and the cost of insurance as well as the cost of the international transport. AGERPRES (RO - editor: Andreea Marinescu; EN - author: Corneliu-Aurelian Colceriu, editor: Adina Panaitescu)

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