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Financial News: Romania Trade Deficit Widens In April

Romania Trade Deficit Widens In April

06/09/2020 - 05:13:00 (RTTNews)

(RTTNews) - Romania's trade deficit increased in April as exports declined faster than imports, figures from the National Institute of Statistics showed on Tuesday.

The trade deficit widened to EUR 1.633 billion in April from EUR 1.392 billion in the same month last year. In March, the trade deficit was EUR 1.858 billion.

Exports fell 47.0 percent year-on-year in April, after an 11.3 percent decrease in March.

Imports declined 34.0 percent annually in April, following a 1.8 percent fall in the previous month.

For the January to April period, exports decreased 13.3 percent and imports declined 7.4 percent.

The statistical office confirmed first quarter GDP estimates published on May 15.

Gross domestic product decreased a seasonally adjusted 0.3 percent from the previous quarter, when the economy expanded 1.2 percent.

On a year-on-year basis, GDP grew 2.7 percent after a 3.9 percent increase in the previous three months. Both quarterly and annual rates came in line with the estimates published earlier.

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