Romania trade deficit more than doubles in January

BUCHAREST: Romania's trade deficit more than doubled on the year in January to 463 million euros ($607.2 million), as export growth slowed, the National Statistics Board said on Monday.

The statistics board said CIF (cost/insurance/freight) imports rose 8.2 percent to 3.9 billion euros, while exports grew 1.4 percent to 3.5 billion euros.

Exports are expected to slow down sharply this year as the euro zone, Romania's main trade partner, struggles to curb a persistent debt crisis and a cold snap that hit the European Union state in January and February will also weigh on trade.

Romania once ran a large trade shortfall that left it exposed to a financing crisis and seeking international aid but the gap has narrowed sharply as a deep recession in 2009 and 2010 weakened the currency and hit domestic consumption.