Exports frozen by February snow
May 2012 - From the Print Edition
Year-on-year exports fell 0.4 percent in euros to EUR 3.5 billion in February, hit both by weather conditions and the decline in demand in the euro area, the main market for Romanian goods, according to the National Institute of Statistics. In February, half the economy was blocked due to snow and frost.
In 2011, exports rose 20.5 percent. Deliveries of goods abroad have shown signs of fragility since the last three months of last year. In December, exports dipped after two years of uninterrupted double-digit growth. In January 2012 exports grew by 1.4 percent over the same month in 2011, before falling again in February.
Annual inflation decreased after the first quarter to a new historic low of 2.5 percent, but is set to surge to 3.5 percent, according to the Association of Financial-Banking Analysts in Romania (AAFBR) in an internal survey. Estimates for annual inflation at end-March vary between 2.2 and 2.8 percent. AAFBR analysts expected the annual inflation rate to reach 2.5 percent from February.
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