The National Institute of Statistics has published on 9th of February 2018, the estimated data of Romania’s foreign trade– International trade with goods.
The press release shows the following:
In the year 2017, the exports and imports increased by 9.1% and by 12.2 respectively, compared to the year 2016.
- In the year 2017, the FOB exports amounted to 62641.2 million euro and the CIF imports amounted to 75596.9 million euro.
- In the year 2017, the FOB-CIF commercial deficit was of 12955.7 million euro, 2983.5 million euro more than in the year 2016.
- In December 2017, the FOB exports were of 4493.6 million euro and the CIF imports were of 6103,7 million euro, a commercial deficit of 1610,1 million euro being registered.
- Compared to December 2016, the exports increased by 4,2% and the imports increased by 10,8% in December 2017.
In the year 2017, the Intra – EU28 trade of goods amounted to 47480.9 million euro for dispatches and to 57277.6 million euro for arrivals, representing 75,8% of both total exports and imports.
In the year 2017, the Extra – EU28 trade of goods amounted to 15160.3 million euro for exports and to 18319.3 euro for imports, representing 24.2& of both total exports and imports.
In the year 2017, important weights in the structure of exports and imports are represented by the following groups of goods: machinery and transport equipment (46.4% for export and 37.3% for import) and other manufactured goods (33.2% for export and 30.9% for import, respectively).
FOB/CIF trade balance is calculated on the basis of the FOB export value and CIF import value as difference between them. The negative balance of the trade balance is called deficit and the positive one is called excedent.
FOB price (Free on Board) represents the price at the border of the exporting country, which includes the value of the commodity, all transport expenditures to the shipping point as well as all the fees for the commodity to be loaded on board.
CIF price (Cost, Insurance, Freight) represents the price at the border of the importing country, including both components of FOB price and the cost of insurance as well as the cost of the international transport.
Note: The statistics on international trade do not include: goods in transit, goods temporarily admitted/released in/from the country except those in view of processing, goods purchased by international organizations for own use in Romania, goods for and after repairs and the related spare parts.
For more details: National Institute of Statistics – Press Release