Romania's trade balance (FOB/CIF) deficit for the first nine months of the current year increased 15% compared to the same period in 2023, reaching 23.485 billion euro, according to data published the National Institute of Statistics (INS) on Monday.According to the source, in September 2024, FOB exports totaled 8.148 billion euros, while CIF imports amounted to 10.719 billion euros, resulting in a deficit of 2.571 billion euros.Compared to September 2023, exports in September 2024 increased 0.3%, while imports rose 4.2%.From January 1 to September 30, 2024, FOB exports amounted to 69.285 billion euros, down 1.4%, while CIF imports totaled 92.770 billion euros, up 2.3%, compared to the same period last year.According to INS, in the first nine months of this year, significant shares in the structure of exports and imports were held by the following product groups: machinery and transport equipment (46.9% for exports and 36.4% for imports) and other manufactured products (28.9% for exports and 28.7% for imports).The value of intra-EU27 trade in goods from January 1 to September 30 was 50.057 billion euro for exports and 67.147 billion euro for imports, representing 72.2% of total exports and 72.4% of total imports.The value of extra-EU27 trade in goods was 19.227 billion euro for exports and 25.623 billion euro for imports, representing 27.8% of total exports and 27.6% of total imports.According to INS, the trade balance FOB/CIF is calculated based on the value of FOB exports and CIF imports, as the difference between the two. A negative balance is called a deficit, while a positive balance is called a surplus.The FOB price (Free on Board) refers to the price at the border of the exporting country, including the value of the goods, all transport costs up to the point of shipment, and all fees that the goods must bear to be loaded onto the ship.The CIF price (Cost, Insurance, Freight) refers to the price at the border of the importing country, which includes both the components of the FOB price as well as the cost of insurance and international transport.
Daniel Christian Hulea, a Romanian man accused of contributing to the NetWalker ransomware attacks, has been sentenced to 20 years in prison after pleading guilty to conspiracy to commit computer fraud and wire fraud, according to a public announcement from the US Department of Justice. NetWalker was a Ransomware-as-a-Service operation launched in 2019, which recruited […]
The new Romanian government, headed by the same Social Democratic prime minister, Marcel Ciolacu, recently made its governance program public. Among its objectives are reducing the level of bureaucracy, maintaining the flat tax rate, and reducing the budget deficit to 7% in 2025. To reach its goals, the government reduced the number of ministries to […]
The European Commission (EC) announced on Monday, December 23, that it disbursed payments under the Recovery and Resilience Facility (RRF) to Czechia, Germany, Italy, Portugal, and Romania, totaling EUR 26.8 billion in loans and grants. Under this latest disbursement, Romania received EUR 37.05 million as part of its second payment request. By comparison, according to the...
Romanian film trilogy Moromeții, directed by Stere Gulea, will be presented at the 54th edition of the Rotterdam International Film Festival, taking place from January 30 to February 9, 2025. This renowned European event, which annually presents hundreds of films across more than 20 sections, will feature the three films - Moromeții (1987), Moromeții 2 […]
Romania issued state aid worth EUR 1.3 billion during 2019-2023, with 62% of the projects being granted to foreign companies, according to an analysis conducted by EY Romania. The sectors that benefited the most from aid were the automotive industry, technology, manufacturing (light industry), medical industry, and the food and beverage industry. According to the […]
The Abracadabra – Secrets of Magic interactive exhibition will transform Arcub – Hanul Gabroveni in Bucharest into a magical universe starting December 27, 2024. Running until May 4, 2025, the event offers visitors the opportunity to explore a labyrinth of magic, featuring over 20 interactive attractions and more than 500 live performances by MAGITOT and […]
