Romania Jan-Oct Trade Gap Narrows To EUR7.7B

Romania's trade deficit narrowed to EUR7.7 billion in the first ten months, from EUR8.09 billion in the same period a year earlier, the National Statistics Institute said Friday.

Exports rose 26.7% on the year to EUR30.3 billion, while imports were up 18.7% to EUR38.07 billion.

Vehicles made up for the bulk of exports and imports in the January-October period, amounting to 42.2% of overall exports and 35% of the imports, the data showed.

In October alone, Romania's trade deficit was of EUR736.5 million, narrower from EUR947.4 million in the year-earlier month.

Exports were at EUR3.5 billion in October, up 28% on the year, while imports were up 15.1% to EUR4.2 billion.

Exports are calculated exclusive of costs, insurance and freight fees, but imports are calculated including such costs.

Romania's trade deficit narrowed to EUR9.74 billion in 2009, from EUR23.51 billion a year earlier, with imports falling more rapidly than the exports.

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