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.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
