Romania's trade deficit was down by 35 percent year-on-year in January this year, to some EUR 300 million, according to the country's Statistics Institute INS. Exports were at EUR 3.69 billion while imports at EUR 4 billion.

The year-on-year growth for exports stood at 7.9 percent for amounts expressed in RON and at 6.1 percent when expressed in EUR. Meanwhile, imports grew by 3 percent in RON and by 1.3 percent in EUR. When compared to the last month of 2012, the growth was bigger for exports, which were up 15.4 percent in RON – and 18 percent in EUR, while the country imported 2.8 percent less month-on-month in January (and 0.7 percent less when expressed in EUR), according to the INS,

In January, 71 percent of the exports – or some EUR 2.6 billion were to European Union countries, while most of Romania's imports – some 74.7 percent – also came from the EU.

Cars and transport equipment and manufactured products made up the bulk of both exports and imports.

Romania exported EUR 45 billion worth of products and imported more – some EUR 54.6 billion, resulting in a trade deficit of EUR 9.5 billion, close to the level in 2011.

editor@romania-insider.com