Balance of trade

Turkey will be one of post-Brexit Britain's top destinations for a trade deal after the European Union and the U.S., but despite the strong bilateral desire to strike a trade pact, experts are cool on the prospects of it happening anytime soon.

The U.K. formally left the EU on Jan. 31, 2020 but will remain in a transition period with the EU and Turkey until Dec. 31 this year.

The deficit in Romania's FOB /CIF trade balance reached 12.045 billion euros in the first nine months of 2019, higher by 2.089 billion euros y-o-y, according to data published by the National Institute of Statistics (INS) on Monday. According to INS, in the first nine months of 2019, the FOB exports amounted to 51846.7 million euro and the CIF imports amounted to 63891.7 million euro.

In August 2019, Bulgaria's current account surplus exceeded EUR 1.1 billion, while foreign direct investment increased by EUR 76 million, but with a total increase of over EUR 600 million since the beginning of the year, BNB data on Bulgaria's balance of payments show, BNR reported.

In 2018 the goods exported from Bulgaria amounted to 56 030.4 Million BGN or 2.6% more than in 2017. In comparing monthly data for 2018 with data for the corresponding month of the previous year the highest growth in exports was observed in January (14.6%), while the most notable fall was registered in February (5.0%).

Romania's H1 2019 FOB exports totalled 34.894 billion euros, while CIF imports were standing at 42.586 billion euros, giving a foreign trade deficit of 7.692 billion euros, according to data released by the National Institute of Statistics (INS) on Friday. Exports increased by 2.7pct in the first half of 2019, while imports were up 5.7pct.

Greece's current account balance showed a wider deficit in November compared to the same month a year ago, on the back of a larger trade gap and a weaker primary income balance, the Bank of Greece said on Monday.

Central bank data showed the deficit at 1.417 billion euros from a deficit of 1.125 billion euros in November 2017.

The decline of the national currency in relation to the euro is 0.6 percent, and only in the situation in which it declines over 4-5 percent the Central Bank analysis rigor intervenes, National Bank of Romania (BNR) strategy consultant Adrian Vasilescu maintains.

Turkey's foreign trade deficit in August fell 58 percent on a yearly basis, according to the trade ministry's preliminary data on Sept 1.

The trade balance deficit went up 31.6 percent in the first two months of 2018 as against the similar period of 2017, to over 1.657 billion euro, reads a National Institute of Statistics (INS) release sent to AGERPRES on Tuesday.

Greece did not just go bankrupt because of its runaway budget deficit. Another important factor that contributed to the economic meltdown that has resulted in eight years of crisis, was the country's massive trade deficit - in other words, the fact that Greece was importing goods worth much more than the value of the goods it exported.