Romanian exports dipped in December by about 5% in annual terms (though non-EU exports saw a slight 3% expansion) and this ended a year in which these saw an almost 2% contraction a very different picture vs the +20% growth reported in 2011.
Imports contracted by 8% in the last months of the year, also dragged lower by intra-EU imports which sharnk by almost 15%. Imports recorded during 2012 saw a minute 0.5% contraction, also well different from the 17% expansion posted in 2011.
The (FOBFOB) full-year deficit looks to have corrected for another year, from 5.7% of GDP posted in 2011 to 5.5% of estimated GDP, and thus is another hint suggesting that the past year was another difficult one for domestic demand.
Source: bne