Friday, March 21, 2008

Romania ranks fifth in EU list of trade deficit: Eurostat

BUCHAREST, Mar 20, 2008 (Xinhua via COMTEX) -- Romania ranked fifth in the European Union (EU) for its volume of trade deficit in 2007, the official Rompres news agency reported Thursday.

Citing statistics announced by the European Community Statistics Office (Eurostat), the report said Romania's trade deficit last year reached 21.6 billion euros, up 45 percent from 2006.

The deficit was caused by the low volume of exports worth 29.4 billion euros, while imports reached 51 billion euros.

Among the EU member states, Romania ranks fifth after Britain with a deficit of 132.6 billion euros, Spain (96 billion euros), France (44.6 billion euros) and Greece (37.9 billion euros).

According to Rompres, Romania's exports reached 2.42 billion euros in January 2008, while imports totaled 3.84 billion euros, resulting in a 1.42-billion-euro deficit, up 2.8 percent compared with the same period of last year.

However, the spring prediction published in March estimated that exports could register a 17.4-percent growth this year, while imports will advance only 15.6 percent.

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