The trade deficit (FOB/CIF) in the first eight months of this year stood at 18.228 billion euros, down 17.2%, or 3.782 billion euros, compared to the same period in 2022, according to data the National Institute of Statistics (INS) released on Tuesday.In the period January 1 - August 31, 2023, FOB exports totalled 62.169 billion euros and CIF imports totalled 80.396 billion euros. According to the INS, exports increased 3.1% and imports decreased 2.3% compared to the period January 1 - August 31, 2022.In the first eight months of 2023, important shares in the structure of exports and imports are held by the following product groups: transport machinery and equipment (44.5% for exports and 36.1% for imports) and other manufactured products (30.3% for exports and 29.1% for imports).On the other hand, in food and live animals, with a share of 7.9% in total exports, Romania exported goods worth 4.918 billion euros, down 7% compared to the period January 1 - August 31, 2022, but imported 13.3% more, namely 7.137 billion euros (a share of 8.9% in total imports).A 13.6% increase was recorded in the first eight months of the year in the import of beverages and tobacco (790.3 million euros), but exports were higher by 35.6%, standing at 1.454 billion euros.In August 2023, FOB exports amounted to 7.079 billion euros and CIF imports amounted to 9.712 billion euros, resulting in a deficit of 2.633 billion euros. Compared to the same month in 2022, exports in August 2023 decreased 7.1% and imports went down 10.5%.The value of intra-EU27 trade in goods in the eight months of 2023 was 45.058 billion euro in shipping and 58.892 billion euro in arrivals, accounting for 72.5% of total exports and 73.3% of total imports.The value of extra-EU27 trade in goods between January 1 and August 31, 2023, was 17.111 billion euros in exports and 21.505 billion euros in imports, representing 27.5% of total exports and 26.7% of total imports.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
