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Romania stands for 11.5 percent of EU27 deficit

The trade balance of the states in the euro area yielded a 28.3 billion euros positive balance, according to preliminary data issued by Eurostat, with Romania standing for 11.5 percent of the EU 27 2007 deficit, having reached 185.7 billion euros, say analysts.

Romania's 2007 trade deficit stood at 21.5 billion euros, according to data released by the National Institute of Statistics (INS), representing 11.5 percent of the overall deficit of the European Union last year. Romania continues to rank fifth among the European states in terms of trade deficit in January-November 2007, after the UK, Spain, France and Greece. With the euro area having switched to a surplus in 2007, from a trade deficit of 9.3 billion euros in 2006, the EU states eyed a slight decrease in the deficit, from 192.1 billion euros in 2006 down to 185.7 billion in 2007. In exchange, in December 2007, the euro area reported a deficit worth 4.2 billion euros, after a surplus of 2.4 billion euros in the previous month, the main reason being the drop by 2.5 percent in the exports of the euro area, with a growth by 0.7 percent in the imports. EU reported in December 2007 a deficit of 17.9 billion euros, a deficit higher than the 16.8 billion euros worth of deficit in the previous month. In Romania, 2007 came with no change in terms of dynamics of exports and imports, with the growth in the imports continuing to reach double parameters compared with the export figures, and with the main partners in the EU, with more than 70 percent in the case of the both exports and imports. With the imports of technology, which represent 30 percent of the total imports, and with high consumption, another source of imbalance for Romania's trade, the annual advance of this deficit stood at 40 percent. The trade balance deficit in the estimated Gross Domestic Product (GDP) thus reaches 20 percent in 2007. The higher value of the 2007 trade deficit compared with the previous year, was mainly influenced in point of exports by the maintaining of the downward trend in the active processing operations and in the export of oil products. Sursa: http://www.rompress.ro

Tags: deficit percent billion euros imports trade romania euro

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