Trade deficit topped 3.2 bln Euros in Q1 2006

In the first four months of 2006, Romania’s commercial deficit exceeded 3.4 billion Euros, up 1.07 billion Euros compared to the same period last year, a National Statistics Institute press release informs.

The exports reached 8.07 billion Euros in Q1, up 17.2% compared to 2005, and exports to EU(67.8% of the total export activity) grew 14%, while imports topped 11.4 billion Euros, up 24.6% than in Q1 last year. The main export countries are Italy (18.7%), Germany (14.7%) and France (7.5%).

Imports from EU countries went up 20.3% in Q1 2006, while they make up 60.5 % of the total imports. The main import countries are Italy (14.5%), Germany (14%) and Russian Federation (10.2%).

The European Commission predicted a commercial deficit from 9.8%GDP in 2005 to 11.6%GDP in 2006 and 13.1%GDP in 2007.