Romania’s trade deficit explodes from one month to the next, demonstrating its unnatural dependence on EU economies

By RBJ
Romania’s exports increased by 25.8%, to 76.833 billion euros, in the first ten months, and imports by 31.1%, to 105.238 billion euros, compared to the same period last year, according to the data published on Monday by the National Institute of Statistics (INS).
In period 1.I-31.X 2022, FOB exports totaled 76.833 billion euros, and CIF imports totaled 105.238 billion euros. In period 1.I-31.X 2022, exports increased by 25.8%, and imports increased by 31.1%, compared to period 1.I-31.X 2021.
Under these conditions, the deficit of the trade balance (FOB/CIF) in the period 1.I-31.X 2022 was 28.404 billion euros, higher by 9.196 billion euros than the one recorded in the period 1.I-31.X 2021″, shows the INS data.
This state of affairs demonstrates the exaggerated dependence of the Romanian economy on the EU economies, especially on that of Germany. However, Germany is in an obvious decline from the second part of 2022, with a modest increase in GDP and very high inflation.
The National Institute of Statistics should provide public opinion with more transparency and more details regarding the state of our country’s trade with the EU and the rest of the world. We are the economy most dependent on the EU, which brings us great damage for the future.
In the period 1.I-31.X 2022, important weights in the structure of exports and imports are held by the product groups: machines and transport equipment (41.5% for export and 32.5% for import) and other manufactured products ( 30.1% for export and 28.7% for import).
The value of intra-EU27 exchanges of goods in the period 1.I-31.X 2022 was 55.720 billion euros for shipments and 74.233 billion euros for introductions, representing 72.5% of total exports and 70.5% of total imports. The value of extra-EU27 exchanges of goods in the period 1.I-31.X 2022 was 21.113 billion euros for exports and 31.005 billion euros for imports, representing 27.5% of total exports and 29.5% of total imports.