Romania’s deficit in food trade doubles
Romania’s deficit in agri-food trade rose to EUR 820.9 million in the first eight months of this year, more than double compared to the same period in 2016.
However, the deficit slightly went down compared to the first six months of this year, when it exceeded EUR 1.06 billion, according to the Agriculture and Rural Development Ministry.
Agri-food exports rose by 5.1% between January and August this year to EUR 3.8 billion whereas imports increased by almost 15% to EUR 4.6 billion. Romania exported to EU countries agri-food products worth EUR 2.3 billion during this period. The imports from the EU members amounted to EUR 3.8 billion in the first eight months of this year.
Romania has a deficit of EUR 1.48 billion in the relation with the EU. While it has a surplus of EUR 664.8 million in the relation with countries outside the EU.
Wheat remains the product with the highest value in Romania’s total exports. The value of wheat exports amounted to EUR 736.6 million in the first eight months of this year, up EUR 4 million over the same period in 2016. Sunflower seed exports more than doubled in the analyzed period, to more than EUR 200 million.
Meanwhile, pork imports saw the highest increase this year, of 43%, to EUR 86.3 million.
November 2017 www.romania-insider.com