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Romania's trade gap widens 34% y/y in Q1

Romania's trade gap widens 34% y/y in Q1 Romania's Constanta port

BUCHAREST (Romania), May 10 (SeeNews) - Romania's trade gap widened by 34% on the year to an estimated 3.644 billion euro ($4.078 billion) in the first three months of 2019, the statistical office, INS, said on Friday.

Exports and imports rose by 3.2% and 7.4%, respectively, in the period January-March, INS said in a statement.

The European Union absorbed 77.8% of Romania's exports in the period under review, and accounted for 75.3% of the country's imports.

Machinery and transport equipment accounted for 48.1% of Romanian exports and 36.9% of imports, while other manufactured goods made up 32% of exports and 30.5% of imports.

In March alone, Romania's exports rose 0.4% on the year, while imports increased 2.7%.

Romania's trade deficit widened by an annual 17% to 15.1 billion euro in 2018.

($=0.8934 euro)