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Agriculture: Romania records 853.9 million euro-deficit in trade of agri-food products, in 2017
Romania recorded last year a 853.9 million euro deficit in trade of agri-food products, up 53 percent as compared to 2016, when it reported 557.4 million euro, according to the data released by the Agriculture and Rural Development Ministry (MADR).
"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," the MADR representatives maintain.
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 the Agriculture and Rural Development Ministry, the main exported products last year were grain, given that only corn and wheat revenues reached 1.73 billion euro. Thus, Romania exported wheat worth 1 billion euro, corn, 730 million, canola seeds 580 million, sunflower seed - 520 million and barley - 220 million. 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 million euro), followed by milk and dairy products (314 million euro), exotic fruit (400 million), coffee (200 million) and chocolate (245 million).
"As far as the trade balance is concerned, Romania exports twice as much from a quantitative point of view, especially raw materials, but the trade deficit comes from the added value of the imported products. In 2017, this deficit amounted to 853.9 million euro," the MADR representatives mention.
It was only in 2013 and 2014 that Romania concluded with a surplus in the trade with agri-food products of 300 million euro and 500 million, respectively (...) but in 2015, it returned to a deficit, recording a 89 million euro-minus.