Trade deficit significantly reduced

Data provided by the National Institute of Statistics (INS) show a favorable evolution of Romania's foreign trade in the first nine months of 2023. Exports increased by 2.1% to €70.291 billion, while imports fell significantly by 3.4% to €90.68 billion. This trend led to a reduction in the trade balance deficit by 18.4% compared to the same period in 2022.

In September 2023, exports totaled €8.125 billion and imports amounted to €10.276 billion, generating a deficit of €2.151 billion. Compared to the same month in 2022, exports were down 5.3% and imports were down 11.1%.

Significant shares in the structure of exports and imports are held by machinery and transport equipment, with 44.5% in exports and 36.2% in imports, as well as other manufactured products, with 30.3% in exports and 29% in imports. Trade in goods within the EU27 accounts for a significant share of the total, with 72.6% of exports and 73.4% of imports.

With a trade deficit of €20.388 billion in January-September 2023, down 18.4% compared to the same period last year, the data shows a solid performance of the Romanian economy internationally.