Romania Posts 6th Largest 5-Mo Trade Gap In EU

Romania posted the sixth largest trade deficit in the European Union bloc in the first five months, with both exports and imports falling compared to last year, the EU’s statistics agency Eurostat said Monday.

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Non-seasonally adjusted figures showed Romania’s trade deficit for the first five months shrank to EUR3.7 billion from EUR9.1 the year earlier, but data showed exports and imports for the January-June period were 21% and 36% weaker on the year, respectively.

In June, seasonally adjusted data indicated Romania’s trade gap narrowed to 0.2% from a deficit of 0.3% in May, fueled by a 7.3% increase in exports. Romanian imports fell 3.8% on the month in June.

The European nations’ trade deficit shrank to EUR4.3 billion in June, compared to EUR7.2 billion in May and EUR19.3 billion in June 2008.

In the January-May period, Germany posted the biggest trade surplus in the EU27 bloc, of EUR46.3 billion, followed by Ireland (+EUR15.6 billion) and the Netherlands (+EUR13.8 billion).

At the opposite side, the U.K. reported the sharpest trade deficit (-EUR38 billion in January-May), followed by France (-EUR24.4 billion), Spain (-EUR20.7 billion), Greece (-EUR11.6 billion) and Portugal (-EUR6.8 billion).

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