According to trade data issued on Tuesday by the National Institute of Statistics (NIS), Romania’s imports of goods and products increased 12 times faster than exports in the first 4 months of 2025.
According to NIS data, between January 1 and April 30, 2025, exports amounted to EUR 31.45 billion, with a growth rate of 0.5% compared to the period January 1 – April 30, 2024, while imports amounted to EUR 43.06 billion. The growth rate of imports in the first 4 months of 2025 was 6%, compared to the first 4 months of 2024.
The much higher rate of import growth produced an even more severe disproportion in Romania’s trade balance, with a trade deficit of EUR 11.6 billion in the first 4 months of the year, 24.5% higher than in the similar period of 2024, which was also a record year for import consumption.
Population’s growing consumption comes mostly from imports
It is worth noting that this record household consumption, supported by consumer credit and increasing population incomes, has imports as its main source.
This means a transfer of local wealth and the creation of economic growth and jobs in the countries from which we import.
To reiterate, the EUR/RON exchange rate appreciated in real terms by almost 5% each year in 2023 and 2024, according to a comprehensive analysis report by the European Commission on Romania’s macroeconomic imbalances. Unicredit analysts stated at the beginning of the year that the real appreciation of the exchange rate significantly affected Romania’s competitiveness and contributed to the upset of the trade balance by making imports cheaper in real terms and affecting exports through this loss of competitiveness.
In general, the stability of our exchange rate, with higher inflation compared to the euro area, is equivalent to an appreciation in real terms of the national currency. The real appreciation of the RON is problematic in terms of our economy’s competitiveness, especially in sectors with low productivity, low profit margins and a workforce with lower qualifications.
Industry difficulties
In April 2025, compared to April 2024, exports decreased by 5.2% while imports increased by 0.4%, indicating major problems in the Romanian manufacturing industry, an economic branch where the labor market shows signs of severe weakness.
At the same time, exports decreased in April by 6.9% against March 2025, and imports by only 2.5%. Overall, the trade deficit in April stood at EUR 3.14 billion.
The food sector deficit widened in the first four months, with imports reaching almost EUR 4.02 billion, up 4.5%, a much higher pace than exports, which grew by +0.4% to EUR 2.25 billion. We are practically importing twice as much food as we export.
Even in the field with the highest share in exports, that of machinery and transport equipment, with a share of 45.5% of the total, imports are EUR 520 million higher, increasing in the analyzed period by +3.1%, compared to the decrease in exports of -0.7%.
Between January and April 2025, significant shares in the structure of exports and imports were held by: machinery and transport equipment (46.5% in exports and 35.2% in imports) and other manufactured products (27.7% in exports and 27.9% in imports).
The latter includes manufactured goods, classified mainly by raw material (iron, steel, rubber, metal, etc.) and miscellaneous manufactured articles (clothing and accessories, footwear, etc.)
Declining trend in trade deficit with non-EU countries
Between January and April 2025, the value of intra-EU27 trade in goods reached EUR 22.34 billion in exports and EUR 30.92 billion in imports, representing 71.0% of total exports and 71.8% of total imports.
Between January and April 2025, the value of extra-EU27 trade in goods reached EUR 9.11 billion in exports and EUR 12.14 billion in imports, representing 29.0% of total exports and 28.2% of total imports.
The trend is towards a decrease in the trade deficit in extra-EU27 trade and an increase in intra-EU27 trade.
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