Romania's Q 1 2024 FOB / CIF trade deficit was EUR 6.699 billion, down 1.5% or EUR 103.3 million y-o-y according to data with the National Institute of Statistics (INS) published on Friday.In March 2024, the trade deficit was standing at EUR 2.548 billion.Statistical data indicate that Q1 2024 FOB exports amounted to EUR 22.946 billion and CIF imports amounted to EUR 29.645 billion, which means that exports declined 3.7% and imports 3.2% y-o-y.Important shares in the composition of the Q1 2024 exports and imports were held by machinery and transport equipment (47.7% of exports and 36.2% of imports) and other manufactured products (29.1% of exports and 27.9% of imports).The value of intra-EU27 trade in goods in Q1 2024 was EUR 16.840 billion worth of exports and EUR 21.937 billion worth of imports, making up 73.4% of total exports and 74% of total imports.The value of extra-EU27 trade in goods between in Q1 2024 was EUR 6.105 billion in exports and EUR 7.707 billion in imports, accounting for 26.6% of total exports and 26% of total imports.In March 2024, FOB exports amounted to EUR 7.904 billion and CIF imports to EUR 10.452 billion, which means a deficit of EUR 2.548 billion. March 2023 exports were down 9.8% and imports 6.7%, both y-o-y.According to INS, FOB/CIF trade balance is calculated against the FOB export value and CIF import value as difference between them. The negative value of the trade balance is called deficit, and the positive one is called surplus.FOB price (Free on Board) is the price at the border of the exporting country, which includes the value of the commodity, all transport expenditures to the shipping point as well as all the fees for the commodity to be loaded on board.CIF price (Cost, Insurance, Freight) is the price at the border of the importing country, including both components of FOB price and the cost of insurance as well as the cost of the international transport.
Every year, on the third Thursday of November, France celebrates the arrival of the Beaujolais Nouveau — the first wine of the harvest, young, fresh, and full of life. This joyful tradition has become a global symbol of conviviality, elegance, and the French art de vivre. In Bucharest, the celebration continues this year with an […]
The Romanian Football Federation (FRF) announced Bucharest’s candidacy to host the Europa League final in 2028 or 2029 at the National Arena, according to the FRF official website. The Europa League final represents a high-profile sporting event on a European scale. Istanbul will host the Europa League final in 2026, followed by Frankfurt in 2027. […]
Three cats from Romania received the top distinctions during the 2025 World Cat Championship held in Bucharest. Wild Forest’s Nordri, an imposing white Norwegian Forest Cat born in Romania, conquered the supreme title of 2025 World Champion, defeating over 750 cats from 35 countries. Nordri’s son, Wild Forest’s Quasar, aged 7 months, was also named […]
A report by the Romanian Court of Accounts, conducted between April and November 2024, which analyzed the organization and functioning of communes and small towns in relation to the population served, shows that, depending on the number of inhabitants, many towns and communes no longer meet the criteria for inclusion in their respective categories. According […]
An association of construction companies from Romania and Bulgaria has won the contract for building the first section of the A8 Târgu Neamț – Iași – Ungheni highway, with a bid of 4.76 billion (EUR 936 million). The contract for the 27-kilometer road can be signed within ten days if no appeals are filed. “The […]
The organizer of the march commemorating 10 years since the Colectiv club fire tragedy, Marian Rădună, was fined RON 3,000 (EUR 600) by the gendarmes because the demonstration exceeded 11:00 PM, the time set in the authorization. Approximately 200 people participated on Thursday, October 30, in the march commemorating 10 years since the tragedy at […]
