Trade deficit to rise from EUR 5.7 billion in 2014 to EUR 7.48 billion in 2017
Romanian balance of trade deficit will sharply increase over the next four years, from EUR 5.7 billion in 2014 to EUR 7.48 billion in 2017, according to the projection of the main macro-economic indicators for 2014-2017, released by the National Prognosis Commission (CNP) quoted by national newswire Agerpres. 2014-03-11 11:46:36
The trade deficit will also rise from 3.8 percent of GDP this year to 4.2 percent in 2017, the CNP estimates reveal.
In the above-mentioned interval, Romania′s exports will increase by over 7 percent per year. CNP estimates for 2014 free on board (FOB) exports worth EUR 53.18 billion, with the amount to jump to EUR 65.7 billion in 2017. CIF (cost, insurance and freight) imports will surge at the same pace, posting a lower advance in 2014, of 6.6 percent to amount to over 7 percent in the years to come. According to estimates, the imports will stand at EUR 58.9 billion in 2014 and at EUR 73.18 billion in 2017.
As for the balance of payments, it will decline over the next four years, from minus EUR 1.79 billion in 2014 to minus EUR 3.5 billion in 2017, according to the CNP estimations. The current account deficit will move up from 1.2 percent of GDP this year to 2 percent in 2017.
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