Exports increased by 23.9% in the first half of the year, and imports increased by 28.5%. The trade balance deficit reached over 15 billion euros

By rbj
The frozen structure of the Romanian economy, based especially on the manufacture and export of components for machines and equipment, is starting to be observed more and more in this period when global flows are deteriorating, and the Romanian economy does not have diverse markets for collaboration and export.
According to the National Institute of Statistics (INS), in the first half of the year, exports increased by 23.9%, to 44.782 billion euros, and imports increased by 28.5%, to 60.219 billion euros, compared to the same period of the year last.
“In the period 1.I-30.VI 2022, FOB exports totaled 44.782 billion euros, and CIF imports totaled 60.219 billion euros. In the period 1.I-30.VI 2022, exports increased by 23.9%, and imports increased by 28.5%, compared to the period 1.I-30.VI 2021. Trade balance deficit (FOB/CIF) in the period 1.I-30.VI 2022 it was 15.437 billion euros, higher by 4.740 billion euros than the one recorded in the period 1.I-30.VI 2021”, INS data show.
In the period 1.I-30.VI 2022, important weights in the structure of exports and imports are held by the product groups: machines and transport equipment (42.2% for export and 32.6% for import) and other manufactured products ( 31.1% for export and 29.4% for import).
The monthly reports of the INS lack consistency, they do not provide any window of understanding of the structure and evolution of foreign trade. Not only in this sector. The analyzes and studies that the INS makes available to public institutions and economic analysts are extremely rare. A “dolce farniente” has been lying in the INS for a long time. The statistics institute delivers, out of inertia, reports on different economic and social sectors. All without any meaning.
Returning to the subject, the value of intra-EU27 exchanges of goods in the period 1.1-30.VI 2022 was 32.556 billion euros for shipments and 42.639 billion euros for introductions, representing 72.7% of total exports and 70.8% from total imports.
The value of extra-EU27 exchanges of goods in the period 1.1-30.VI 2022 was 12.226 billion euros for exports and 17.580 billion euros for imports, representing 27.3% of total exports and 29.2% of total imports.
In June 2022, FOB exports totaled 7.864 billion euros and CIF imports totaled 10.554 billion euros, resulting in a deficit of 2.689 billion euros. Compared to June 2021, exports in June 2022 increased by 25.9%, and imports increased by 30.4%.