Exports continued to go up in August, driven by foreign demand,at an accelerated 25.2% compared with August 2009, while theimports rise slowed down to 13.7%.
"The figures reveal an improvement in the balance of payments,following an accelerated export growth rate, which has for thefirst time in the last few months outpaced the import increaserate," said Melania Hăncilă, Volksbank's chief economist.
Although exports rose at a faster pace than imports, the tradedeficit went up by 1.9% in the first eight months against thesimilar period of last year, to 6.09 billion euros.
Some analysts have warned that the rising trend of the tradedeficit is alarming considering that consumption and investmentshave slimmed down and that the economy is declining, and say a moreflexible exchange rate is needed, which would help competitiveprices.
Aurica Sereny, president of the Furniture Manufacturers'Association in Romania, is in favour of a stable exchange rate,without major rises or declines. "The exchange rate is acceptablefor exporters. We are in favour of exchange rate stability, withoutmajor fluctuations."
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