Monday, September 13, 2010

Romanian Trade Deficit Widened in July on Year for Third Month

Sept. 9 (Bloomberg) -- Romania’s trade deficit widened in July for a third consecutive month on higher imports as demand from western Europe for the country’s exports shrunk.

The gap widened to 624.4 million euros ($793 million) from 552.1 million euros a year earlier, the Bucharest-based National Statistics Institute said in an e-mail today. The deficit was a revised 897.1 million euros in June.

Export growth slowed to 19 percent on the year in July from 31 percent in the previous month, while imports increased 18 percent, the institute said. The trade gap is the main component of Romania’s current-account deficit, which prompted the International Monetary Fund to lead a 20 billion-euro international bailout package to Romania last year.

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