Romania: The trade balance deficit was 5.5 billion euros lower in the 11 months of 2023 compared to the same period in 2022

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Bucharest, January 9, 2024# rbj – The

Bucharest, January 9, 2024 – # rbj – The trade balance deficit (FOB/CIF) in the period January 1 – November 30, 2023 was 25.555 billion euros, lower by 5.450 billion euros (-17.6%) than the one recorded between January 1 and November 30, 2022, according to the data of the National Institute of Statistics, published on Tuesday.

In November last year, FOB exports totaled 8.222 billion euros, and CIF imports exceeded 10.579 billion euros, resulting in a deficit of 2.357 billion euros.

Compared to November 2022, exports in November 2023 decreased by 2.2%, and imports by 3.9%.

According to INS data, FOB exports totaled 86.921 billion euros between January 1 and November 30, 2023, and CIF imports reached 112.477 billion euros. Thus, during the analyzed period, exports increased by 2%, while imports decreased by 3.2%.

Important weights in the structure of exports and imports are held by the product groups: machines and transport equipment (44.7% for export and 36.6% for import) and other manufactured products) (30.0% for export and 28.9 % on import).

The value of intra-EU27 exchanges of goods in the period January 1 – November 30, 2023 was 63.277 billion euros for shipments and 82.631 billion euros for introductions, representing 72.8% of total exports and 73.5% of total imports.

Also, the value of extra-EU27 exchanges of goods in the period January 1 – November 30, 2023 was 23.644 billion euros for exports and 29.845 billion euros for imports, respectively 27.2% of total exports and 26.5% of total imports.

The FOB (Free on Board) price represents the price at the border of the exporting country, which includes the value of the good, all transport costs to the point of embarkation, as well as all the taxes that the good must bear to be loaded on board .

The CIF price (Cost, Insurance, Freight/Cost, Insurance, Shipping) represents the price at the border of the importing country, which includes both the components of the FOB price, as well as the cost of insurance and international transport.

t (FOB/CIF) in the period January 1 – November 30, 2023 was 25.555 billion euros, lower by 5.450 billion euros (-17.6%) than the one recorded between January 1 and November 30, 2022, according to the data of the National Institute of Statistics, published on Tuesday.

In November last year, FOB exports totaled 8.222 billion euros, and CIF imports exceeded 10.579 billion euros, resulting in a deficit of 2.357 billion euros.

Compared to November 2022, exports in November 2023 decreased by 2.2%, and imports by 3.9%.

According to INS data, FOB exports totaled 86.921 billion euros between January 1 and November 30, 2023, and CIF imports reached 112.477 billion euros. Thus, during the analyzed period, exports increased by 2%, while imports decreased by 3.2%.

Important weights in the structure of exports and imports are held by the product groups: machines and transport equipment (44.7% for export and 36.6% for import) and other manufactured products) (30.0% for export and 28.9 % on import).

The value of intra-EU27 exchanges of goods in the period January 1 – November 30, 2023 was 63.277 billion euros for shipments and 82.631 billion euros for introductions, representing 72.8% of total exports and 73.5% of total imports.

Also, the value of extra-EU27 exchanges of goods in the period January 1 – November 30, 2023 was 23.644 billion euros for exports and 29.845 billion euros for imports, respectively 27.2% of total exports and 26.5% of total imports.

The FOB (Free on Board) price represents the price at the border of the exporting country, which includes the value of the good, all transport costs to the point of embarkation, as well as all the taxes that the good must bear to be loaded on board .

The CIF price (Cost, Insurance, Freight/Cost, Insurance, Shipping) represents the price at the border of the importing country, which includes both the components of the FOB price, as well as the cost of insurance and international transport.

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