By Iulian Ernst in Bucharest Romania’s deficit of the trade in goods (chart) has widened by 18.4% y/y to €8.4bn in Q3 as imports (+4.9% y/y) are stimulated by private and public demand while exports (+0.7% y/y) dwindle amid problematic industrial development and consumer confidence in Europe. The 18.4% y/y advance looks impressive but it’s more an effect of volatility, while deeper concerns are related to the structure of the trade deficit. Romania is increasingly importing consumer and hopefully investment goods, but it fails to develop value-added or export-driven industries thus remaining l…