Romania’s trade deficit has narrowed for the fourth consecutive quarter, by 9.3% y/y to EUR 7.7 billion in Q1, 2026, according to data published by the statistics office INS. The deficit to GDP, calculated based on the latest available GDP data and in comparable terms, dropped to 2.0% in Q1 this year, from 2.4% in the same period of 2025. Over the past four quarters to March 2026, Romania's trade deficit has contracted by 9.4% y/y to EUR 31.95 billion, or 8.4% of GDP (latest available), down from 10.0% calculated as of March 2025.  Romania’s imports contracted by 1.7% y/y to EUR 31.5 billion in Q1, on a combination of subdued domestic consumption and reduced economic activity, while the exports edged up by 1.1% y/y to EUR 23.8 billion.