Romania recorded 854 mln. euro deficit in agri-food trade in 2017

"Romania recorded a 4.6 increase of the exports in agri-food products in 2017 as compared to 2016, reaching 6.23 billion euro, the greatest share being held by raw materials. Romania's imports were worth 7.1 billion euro, a significant share being held by products with an added value," according to the MADR representatives.

In 2016, export amounted to 5.95 billion euro, up 3.8 percent as compared to 2015, while imports of agri-food products rapidly went up, by respectively 11.8 percent, to 6.51 billion euro, an amount deemed a historic record at the time. 

According to the data released by MADR, the main exported products last year were grain, given that only corn and wheat export revenues reached 1.73 billion euro. Thus, Romania exported wheat worth 1 billion euro, maize - 730 mln. euro, rapeseed - 580 mln. euro, sunflower seeds - 520 mln. euro and barley - 220 mln. euro. Last but not least, the export of live cattle contributed with 200 million euro in 2017.

On the other hand, among the first ranking imported products last year were pork (475 mln. euro), followed by milk and dairy products (314 mln. euro), exotic fruit (400 mln. euro), coffee (200 mln. euro) and chocolate (245 mln. euro).

From the quantitative point of view, Romania exports twice as much than it imports, especially raw materials, but the trade deficit comes from the added value of the imported products. It was only in 2013 and 2014 that Romania had a surplus in the trade with agri-food products of 300 mln. euro and 500 mln., respectively but in 2015, it returned to a deficit, recording a 89 mln. euro-minus.

Source: Agerpres Economic Highlights no.8, May 2018