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.
Train ticket prices will rise by nearly 10% starting December 14, when the new 2025–2026 railway timetable comes into effect in Romania, officials confirmed on Wednesday, as reported by Agerpres. The increase of 9.88% reflects the annual inflation index published by the National Institute of Statistics (INS), in line with...
Deputy prime minister Oana Gheorghiu will lead a working group tasked with reforming Romania's loss-making state-owned companies, prime minister Ilie Bolojan said in an interview with ProTV, as reported by G4media.ro. Her predecessor, Dragos Anastasiu,
Romanian prime minister Ilie Bolojan, on November 19, in an interview given to ProTV and quoted by Hotnews.ro, explained that the pension-wage cumulation ban will apply only to the so-called special pensions, namely those not based on past contributions, as opposed to all pensions as implied by Social Democrat (PSD) labour...
Statements by Romanian prime minister Ilie Bolojan about cutting by 10% the total personnel budget for all ministers and other similar contracting units, as opposed to only the central administration of the respective bodies, prompted on November 19 a radical reaction from the Social Democratic Party (PSD) and trade unions in the public sector. No […]
Romania’s Ministry of Labour unveiled for public consultations the revised law on magistrates’ pensions, and the government, in a press release, expressed its hope that the approval process, including by the Superior Council of Magistracy (CSM), will proceed expeditiously. However, CSM vice president Claudu Sandu has already publicly rejected the law as insufficient. The bill is […]
PPC, the largest power supplier in Greece, also active in Romania with distribution, production, and supply operations after it took over Enel's operations in the country, announced at the Capital Markets Day event investment plans worth EUR 3 billion over the next three years in Romania, according to Economica.net....
