The trade balance deficit (FOB/CIF) was, in the first quarter of this year, 8.453 billion euros, up 26.9% (+1.792 billion euros) compared to the one recorded in the first quarter of 2024, according to data from the National Institute of Statistics, published on Monday.

In March 2025, FOB exports amounted to 8.453 billion euros, and CIF imports amounted to 11.289 billion euros, resulting in a deficit of 2.836 billion euros. Compared to March 2024, exports in March 2025 increased by 6.3%, and imports by 8%.

Also, during the period January 1 – March 31, 2025, FOB exports amounted to 23.599 billion euros (+2.7%), while CIF imports were 32.053 billion euros (+8.1%).

Important shares in the structure of exports and imports are held by the product groups: machinery and transport equipment (46.2% in exports and 35.2% in imports) and other manufactured products (27.9% in exports and 27.7% in imports).

According to INS data, the value of intra-EU27 exchanges of goods, in the first three months of this year, was 16.711 billion euros in shipments, respectively 23.107 billion euros in imports, representing 70.8% of total exports and 72.1% of total imports.

At the same time, the value of extra-EU27 trade in goods stood, in the same reference interval, at 6.888 billion euros in exports and 8.945 billion euros in imports, equivalent to 29.2% of total exports and 27.9% of total imports.

The INS mentions that the FOB/CIF trade balance is calculated based on the value of FOB exports and CIF imports, as the difference between them. The negative balance of the trade balance is called a deficit, and the positive one is called a surplus.

The FOB (Free on Board) price represents the price at the border of the exporting country, which includes the value of the good, all transportation costs to the point of embarkation, as well as all taxes that the good must bear to be loaded on board.

At the same time, the CIF price (Cost, Insurance, Freight/Cost) represents the price at the border of the importing country, which includes both the components of the FOB price, as well as the cost of insurance and international transport.

AGERPRES