Commercial deficit has grown spectacularly

Official data. deficiency The commercial balance (FOB/CIF) was, in the first quarter of this year, of 8.453 billion euros, up 26.9% (+1.792 billion) than the one registered in the first quarter of 2024, according to the data of the National Institute of Statistics (man), published Monday.

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

Also, between January 1 – March 31, 2025, FOB exports totaled 23.599 billion euros (+2.7%), while CIF imports were 32.053 billion euros (+8.1%).

Important weights in the structure of exports and imports are owned by product groups: transport machines and equipment (46.2% for export and 35.2% for import) and other manufactured products (27.9% for export and 27.7% for import).

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

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

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

The price of FOB (free on board/free on board) represents the price at the border of the exporting country, which includes the value of the good, all the transport expenses to the point of boarding, as well as all the taxes that the good must bear to be loaded on board.

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