The considerable discrepancy in exports and imports in 2008 led to the accumulation of a balance-of-trade deficit of $3.301 billion, up $953.8 million or 40.6% from 2007, Info-Prim Neo reports, quoting the National Bureau of Statistics. According to the Bureau, exports last year totaled $1.597,3 billion, while imports – $4.898,9 billion, an increase of 19% and, respectively, 32.8% from a year before. The degree of covering imports with exports was 32.6%, as against 36.4% in 2007. Exports to the European Union came to $820.1 million (+20.7% on 2007), making up 51.4% of the total exports, as opposed to 50.6% in 2007. Exports to the CIS states made up 39.3% of the total exports, as against 41% in 2007, adding up to $627.9 million, a 14.1% increase from a year earlier. Among Moldova’s major export partners were: Romania, which imported Moldovan goods worth $335.8 million (+59%), Russia with imports of $318.4 million (+36.8%), Italy – $167.1 million (+19.2%), Ukraine – $142.8 million (-14.9%), and Belarus – $92.8 million (+13.2%). Imports from the EU member states were $2.105,4 billion, up 25.2% from 2007, making up 43% of the total imports, compared with 45.6% in 2007. Imports from the CIS states came to $1.737,2 billion, up 30.3% from a year before. They made up 35.5% of the total imports, as against 36.1% in 2007. Imports from Ukraine totaled $839 million (+22.1%), Russia – $666.1 million (+33.6%), Romania – $590.8 million (+31.6%), Germany – $364.5 million (+14.2%), China - $325.5 million (+60.4%), etc. Earlier, Deputy Minister of Economy and Trade Iurie Muntean said that the issue of the rise in the negative balance of trade should not be exaggerated. “We are preoccupied with these problems, but nothing in economy can be done overnight. Look at hour neighbors, in particular the EU member Romania. After 17 years of development, Romania’s exports are larger than the imports, but during all these years the trade balance had been negative,” Iurie Muntean told a roundtable meeting. The deputy minister said that the higher trade balance deficit stemmed from the rise in investments in restoring fixed assets, the increase in the prices of energy resources and in the population’s incomes that resulted in a larger demand for products, including imported ones, etc.