Exports have increased over 15% in November 2011

• Romania's trade deficit expected to increase in 2012

Romania's exports have increased 15.1% in November 2011 compared to November 2010, according to preliminary estimates of the National Statistics Institute (INS). During the same period, imports have increased 11.2%.

Compared to October 2011, November's exports increased 1.4%, and imports increased 3.5%.

In November last year, the trade deficit amounted to approximately 3.9 billion lei, down 151.3 million lei compared to November 2010.

For the current year, the forecasts expect a trade deficit of greater than the one of 2011, of 10.58 billion Euros, compared to 9.4 billion Euros, according to Mihai Ionescu, the secretary general of the National Association of Importers and Exporters of Romania (ANEIR). In 2012, imports are expected to increase 11.3%, whereas exports are expected to increase 11% compared to 2011.

In the first eleven months of 2011, compared to the January 1st-November 30, 2010 period, exports have exceeded 176.6 billion lei, a 23.2% increase, and imports reached 213.1 billion lei, an 18.5% increase, according to the National Statistics Institute (INS).

During the reviewed period, the trade deficit reached 36.472 billion lei, down 30.7 million lei.

In the first eleven months of 2011, machinery and export equipments held significant weights when it comes to machinery and transportation equipment (41.5% for exports and 34.3% when it comes to imports) and by other manufactured products (33.4% for exports and 30.7% for imports).

For the current year, exporters are moderately optimistic, Mihai Ionescu recently said. According to him, companies in Romania doing foreign trade are faced with three major problems. The first of them is that vital sectors such as metallurgy and fertilizers, "where our major producers haven't been able to get their stocks for 2012 at prices comparable to those of the competition". Exporters' second problem is that of lack of labor, whereas the third problem which troubles companies involved in foreign trade is financing.