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BCR: Export outpaces import for 2nd consecutive month in Jan.

January is the second consecutive month that saw the Romanian export growing at a faster pace than import, shows an analysis conducted by the experts of the Research Department with the Romanian Commercial Bank (BCR).

The rise in import slowed down to 11.3 percent compared to January 2007, while exports jumped 16.9 percent. Consequently, the development of the trade balance deficit slowed down to 2.8 percent or 1.4 billion euros; this compares to more than 80 percent in last January, the analysis shows. The European Union has stayed the main commercial partner of Romania, accounting for 72 percent of export and 69 percent of import. The transportation means accounted for 33 percent of the overall exports, marking a significant rise from 15 percent in last January amid a robust growth of the capital goods at nearly 25 percent. 'We estimate that the exports will keep a more alert growth pace this year compared to 2007, particularly with respect to the capital goods and the high value-added products. Furthermore, we estimate that the commercial deficit will stand at some 16 percent of GDP by year-end', BCR chief economist Lucian Anghel said. The higher-than-expected evolution of the exports in January has prompted a 0.6 percent appreciation of the national leu currency to the euro. Sursa: http://www.rompress.ro

Tags: percent january import bcr export euro