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.
The Romanian-American University announces the signing of a strategic academic partnership with the University of Hyogo, Japan, for the development of the International Business and Entrepreneurship master’s program, which thus becomes the first Japan-Romania double degree program in the field of business and entrepreneurship in Romania. Through this partnership, students will have the opportunity to […]
The European Commission (EC) announced on Thursday, May 14, that it issued a positive preliminary assessment of Romania’s fourth payment request for EUR 2.62 billion under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU. The funds are tied to reforms and investments targeting transport decarbonization, digitalization, healthcare, tax reform,...
Leasing transactions for modern office space in Bucharest increased by 14% in the first quarter of 2026 compared to the same period last year, while new demand rose by 24%. Even so, the market remains below pre-pandemic levels, according to Colliers data. Total new demand reached approximately 24,000 square meters in the first three months […]
Romania ranks 14th out of 40 countries for income inequality, with the wealthiest fifth earning 5.73 times more than the poorest fifth, according to the “Unequal Chances – Children and Economic Inequality” report released by UNICEF on Tuesday, May 12. Among the countries with comparable data included in the report, Romania ranks 10th in child poverty, […]
New Romanian film distribution company Good Time Films announced its official launch with the acquisition of two international arthouse productions, including a title selected for the main competition at the 2026 Cannes Film Festival. The company said it will bring both films to Romanian cinemas later this year. The first title is Parallel Tales, written […]
Famed American actress Nicole Kidman stars in a new video promoting “Danaïde,” Constantin Brancusi’ golden portrait of his muse dated from 1913. In the video produced by prestigious auction house Christie’s, set to David Bowie’s song “Golden Years,” Kidman, herself a lover and supporter of the arts, approaches the work in Christie’s Rockefeller Center galleries, […]
