Q2 / Average monthly income per capita in Romania has risen to nearly RON 1,600: Changes in redistribution of family budget

Data published by INS for the second quarter of 2018 show that Romanians’ monthly incomes have reached nearly RON 1,600 per person. They were RON… Mai mult

Current account deficit flickers to red on dashboard

According to the data released by Eurostat, Romania’s current account deficit exceeded, in the second quarter of the year, the threshold of five percentage points… Mai mult

Strategic chemical industry: Romania, on top in import increase and ranking last in EU in terms of increase in exports outside single market

Data published by Eurostat show that Romania recorded the second highest annual growth rate in imports of non-EU chemicals from 2007 to 2017 (13.1% per… Mai mult

Economic growth in the pocket: Current accounts vs. saving accounts – 64% to 4.5%

  Rising incomes have fuelled consumption and, implicitly, the economic growth in recent years, but not the savings. Although a large proportion of the population… Mai mult

Domestic software and IT services market declines, growth will only be based on external market

Total turnover in the IT sector increased by 11 percentage points in 2017 compared to 2016 and exceeded the four billion euro threshold forecasted, according… Mai mult

Monthly trade deficit surges again over one billion euro

de Marin Pana , 14.5.2018

The trade deficit in March 2018 exceeded again the threshold of EUR 1 billion after the values in the first two months were significantly lower.

However, the amount of EUR 1,056.7 million was only 1.6% higher than in the same month of the previous year, which halved the growth rate of the deficit cumulated since the beginning of the year (18% compared to 35 % at the end of February).

The good news is that monthly exports have exceeded, for the first time, EUR 6 billion.

The less good news is that imports exceeded, also for the first time, EUR 7 billion euro and the “score” of the increases was again slightly unfavourable to exports compared to the evolution of imports (9.8% versus 10.8% with the observation that the second value was applied to a bigger starting basis).

The import coverage ratio by exports was 89.9%, which was slightly better than in 2016 and 2017 but below the values recorded between 2013 and 2015 (see table). For the attempt of recovering to the level above 90% and the relatively good practices of four or five years ago to succeed, we should export a little more and/or import less in the consumer goods area.


  • Evolution of import coverage ratio by exports between 2009 – 2018
  • Year
  • FOB/FOB coverage


As we can see from the situation of the last 15 months, we have seen growth rates of imports of two figures or very close to 10% since May 2017 (August-September 2017), while about half of exports had growth rhythms of a single digit and half had two-digit growths.

With the note that we succeeded to have the biggest positive gap in March 2017 between the increase in exports and the increase in imports.


  • Foreign trade between January 2017 – March 2018 (million euro)


Situation on intra- and extra-EU and picture by sectors

For the first three months of 2018, trade with the EU countries amounted to about EUR 13 billion in exports and EUR 14.85 billion in imports (76.6% of total exports and 75.4% of imports). In the extra-EU trade segment, exports amounted to almost EUR 4 billion and imports EUR 4.85 billion (23.4% of total exports and 24.6% of imports).

The deficit unbalance toward the trade with non-euro countries also continued after the third month of the year. Although they account for less than a quarter of Romania’s trade, they contributed 32% to the overall trade deficit in the first quarter of 2018, but the trend from one month to the next is the increase in the share of intra-EU trade deficit.


  • Structure of foreign trade in March 2018 (million euro)
  • Export Import  Surplus/Deficit            Share in deficit
  • Intra-EU28 trade
  • Extra-EU28 trade


In the structure, Romania continued to obtain a positive sectoral balance in the foreign trade only on the machinery and transport equipment segment (+ EUR 917 billion).

This achievement compensated for the poor results on the segments of other manufactured products and, pay attention, on the food products sector, where the deficit went unacceptably high for our natural conditions, above the level of the manufactured products, other than machinery, and went close to the level in the category of fuels and lubricants.

Regarding the sectoral import coverage ratio by exports, the situation has worsened more and more clearly on the food products side (where it reached a worrying 61% at the end of the first quarter), and on the chemical products category where it dropped to only 30%. A minus of EUR 1.8 billion or about two-thirds of the trade deficit recorded in the first quarter of 2018 came from the trade of chemicals and derivatives.


  • Foreign trade structure by main product categories in March 2018
  • Category         export Import  Coverage ratio            Balance           Balance/Total deficit
  • Machinery and transport equipment
  • Other manufactured products
  • Food products, livestock
  • Fuels and lubricants
  • Chemicals and derivatives
  • Raw materials


The decline in the foreign trade of raw materials was relatively moderate, just surpassing EUR 100 million.

Moreover, it is neither desirable to export no added value or very low added value products but to process raw materials to create jobs and added value here.

Altogether, the simplified image of foreign trade results shows negative results somehow of the same value on manufactured products, food products and fuels, which, together, almost equal the “gap” in the chemical products category, while the plus in the automotive sector is about half the minus in the chemical sector that strongly worsens the overall result.

Mergeți în homepage ›

Publicat la data de 14.5.2018

Lăsați un comentariu


Cluj-Napoca - only city in Romania that receives European funds for innovative projects

Only Cluj-Napoca is among the 22 European cities that will receive financing from the European Regional Development Fund (FEDR) for innovative solutions in addressing urban… Mai mult

Prime Minister Dancila dismissed 13 of 15 civil society representatives from Economic and Social Council. They were blocking legislation that did not gathered all opinions

Prime Minister Viorica Dancila has replaced 13 of the 15 civil society representatives in the Economic and Social Council (CES). Following a decision published on… Mai mult

West Quadrilateral / Four counties joined to directly access European money for major infrastructure projects

From right to left: Gheorghe Falca, Nicolae Robu, Ilie Bolojan. Emil Boc, Mayor of Cluj Napoca, misses Four mayors from the West of the country… Mai mult

Chamber of Deputies / PSD loses UDMR’s support for amending Offshore Law, draft returns to committees for a week

The plenum of the Chamber of Deputies decided on Wednesday to resend the Offshore Law to committees after a seemingly surprising request of UDMR leader… Mai mult

Government amended insolvency law. Guarantees given by Minister Teodorovici

The Government adopted on Thursday the draft Emergency Ordinance for amending and supplementing legislation in the field of insolvency, which provides among other things for… Mai mult

Romania ranked 7th in EU in terms of renewable electricity

Unlike the vast majority of the economic areas, in which we are at the bottom of the European ranking, Romania succeeded to rank 7th by… Mai mult

Resounding failure of PSD lobbying action in Brussels

There are clear signs that the lobbying action launched by the ruling coalition in Brussels in favour of the government in Bucharest will end with… Mai mult

MFP: Romania does not endorse a separate budget for Eurozone and rejects the idea of ​​taxing financial transactions

Romania does not endorse a separate budget for Eurozone and rejects the idea of taxing financial transactions, Minister of Public Finance Eugen Teodorovici said after… Mai mult

Finance Ministry wants to change rules for insolvency: state could also register claims after procedure is launched

Companies’ possibility to avoid paying creditors (and in particular the payment of tax receivables) simply by declaring their insolvency would be drastically limited, according to… Mai mult

Phil Hogan: Swine fever in Romania has an impact on neighbouring countries and EU trade in pigs

Prime Minister Viorica Dancila, European Commissioner Phil Hogan and Agriculture Minister Petre Daea The swine fever epidemics in Romania has an impact on neighbouring countries,… Mai mult

Infrastructure projects lost EUR 41.5 million following budget amendment. In what projects cuts have been made

Despite the assurances that Dancila government is concerned and intensely working on the road infrastructure projects, at the budget amendment the Transport Ministry has cut… Mai mult

European Parliament have decided to adopt in October a resolution on the rule of law in Romania

Leaders of the political groups in the European Parliament have decided to adopt in October a resolution on the rule of law in Romania. The… Mai mult

"Romania's buffers have deteriorated, the country is less prepared for a negative shock" - IMF will reduce economic growth estimate

Romania will be less prepared if the economy is hit by a negative shock, as the structural deficit has been deteriorated - IMF representative for… Mai mult

Premiere: CSAT asks Finance Ministry to amend amendment - session suspended until Government comes with a draft that does not affect budgets of secret services

President Klaus Iohannis suspended on Tuesday the CSAT meeting for discussing the budget amendment, as there was no consensus on the budgets of institutions from… Mai mult