Exports down in March for the first time in 2008

As such, from February to March, lei-denominated exports dropped 3.4 percent, and 3.8 percent, calculated in euro, while imports rose 7.4 percent calculated in lei and 7 percent calculated in euro.

From March 2007 to March 2008, lei-denominated exports rose 12.4 percent and 2.5 percent calculated in euro, due to the variations in the exchange rate. Lei-denominated imports rose 19.4 percent and 8.9 percent calculated in euro.

In March, exports totaled RON 9.97 billion (€2.69 bln), while imports amounted to RON 17.09 billion (€4.62 bln), bringing the trade deficit to €1.9 bln. For the first quarter of 2008, the trade deficit totaled €4.84 bln, some €445 mln higher than in Q1 2007.

According to the National Prognosis Commission (CNP), the advance in exports for all of 2008 could amount to 18.4 percent, while imports are likely to increase by 15.3 percent.