SIMILAR ARTICLES

Brief picture of economy. 2018 GDP growth after first nine months: 4.2%

The economic growth on the first three quarters of 2018 was 4.2%, both in gross series and the seasonally adjusted series, according to data published… Mai mult

Budget revenue, historical minimum – below two-thirds of EU average as a share of GDP. Declining trend and low values ​​across the board

Romania ranked penultimate among EU member states in 2017 in terms of budget revenues share of GDP, according to Eurostat data. With only 25.8%, our… Mai mult

Labour cost, nearly 14% higher than last year. Implications

Hourly labour costs grew by 13.91% in the third quarter of 2018 compared to the same period in 2017 (+1.53% compared to Q2 2018), according… Mai mult

“Man, there is still time”/ We meet 13 out of 14 criteria on European dashboard: but how do we overcome two neuralgic points?

According to Eurostat, Romania observed 13 of the 14 indicators set for the scoreboard of the macroeconomic situation in the EU member states last year.… Mai mult

Romanian research has come below the level registered at the EU accession moment. And it reached one sixth of EU 2020 target

Romania insists on staying on the penultimate position among the European Union member states in terms of R & D expenditure in 2017, according to… Mai mult

Cronicile

What Romania exported and imported in 2017. Some observations

de Marin Pana , 16.4.2018

According to INS data, last year, the automotive industry was the driver of Romanian exports, with about EUR 9.6 billion, of a total of EUR 62.6 billion representing the goods delivered abroad.

It is worth noting, though, that almost 70% of the amount represented components assembled in other countries and only slightly more than 30% or about EUR 3 billion exported cars in the finished state.

Considering the imports for the same sector, where the same groups of goods had almost the same positions on both international trade flows, the net result was almost EUR 3.6 billion, at a negative final value of almost EUR 13 billion for the balance between exports and imports.

The supply of wires, cables and other insulated electric conductors ranked the second, worth almost EUR 3.9 billion in export, and a positive net balance of approximately EUR 2.1 billion. Added to them, to a relatively smaller proportion, electrical appliances, with EUR 0.8 billion in export and a net result of EUR 0.4 billion.

To have a clearer picture of Romania’s trade, we present extensively the first 15 positions for exports and imports in 2017, respectively:

*

  • Main exports of Romania in 2017   million euro
  • Parts and accessories for cars, auto carriage of goods, tracks, etc.
  • Wires, cables and other insulated electric conductors
  • Cars and other passenger transport auto vehicles
  • Oil products
  • Electrical control boards
  • Seats, whether or not convertible into beds, and parts
  • Rubber tires
  • Electrical apparatus for line telephony or line telegraphy, including line telephone sets; videophones
  • Wheat and meslin (mix of two-thirds of wheat and one-third of rye
  • Air or vacuum pumps; air or other gas compressors and fans
  • Electrical apparatus for switching or protecting electrical circuits
  • Bearings
  • Corn
  • Medicaments and antibiotics
  • Cigarettes, cigarillos, cigars
  • Main imports of Romania in 2017   million euro
  • Parts and accessories for cars, auto carriage of goods, tracks, etc.
  • Oil
  • Medicaments and antibiotics
  • Cars and other passenger transport auto vehicles
  • Wires, cables and other insulated electric conductors
  • Electrical apparatus for line telephony or line telegraphy, including line telephone sets; videophones
  • Oil products
  • Electrical apparatus for switching or protecting electrical circuits
  • Electronic integrated circuits and microassemblies
  • Plastic products
  • Tracks
  • Iron and steel products, not specified otherwise
  • Automatic data-processing machines and parts
  • Parts of apparatus for switching or protecting electrical circuits
  • Air or vacuum pumps; air or other gas compressors and fans

*

From these data, we can see that Romania managed to export oil products worth only EUR 1.85 billion for crude oil imports of EUR 2.7 billion, to which there were added oil products of EUR 1.3 billion.

While in the automotive and electrical wiring industry we came to the plus due to the intra-industrial specialization at the European level, in the petrochemical field, where we once excelled, the result was clearly unfavourable for us.

Noteworthy, the consistent export deliveries of some less publicly known products such as seats (EUR1.45 billion), tires (EUR1.35 billion), telephones and pumps (each of these groups with about EUR 1 billion), the same value as the one obtained from the export of wheat (cereals have brought almost EUR 1.8 billion, with corn included).

In imports, regarding the agricultural activity, right after the first 15 top positions, we notice the imports of swine meat of nearly EUR 0.5 billion euros, where we lost large production capacities, and the imports of EUR 0.45 billion in insecticides, herbicides, etc., following a similar reduction.  

Somewhat surprisingly, up to the 30th position in the list of imports, there are categories such as “human blood, animal blood prepared for therapeutic use, vaccines(EUR 406 million), copper wire (EUR 397 million) and “screws, bolts, nuts, coach screws and similar articles of cast iron, iron or steel” (EUR 396 million).

Last, but not least, the situation of the medicaments and antibiotics sector should be noted, with exports of EUR 717 million (hopefully not re-export) in parallel with imports of EUR 2.45 billion (third position among the categories of imported goods!!), the net result being EUR -1.7 billion or 13% of the Romanian trade deficit.

Mergeți în homepage ›

Publicat la data de 16.4.2018

Lăsați un comentariu


NEWS

State is borrowing at increasingly higher costs - government bond yield reached 5.33% per year

The benchmark government bond yield jumped above the 5% threshold on Thursday. The Ministry of Public Finance (MFP) attracted RON 300 million from banks on… Mai mult

Iasi - Tg.Mures highway disappeared from Large Infrastructure Operational Programme 2021-2027

The Ministry of European Funds has taken out Iasi-Tg. Mures highway project from the Large Infrastructure Operational Programme 2021-2027 and the Ministry of Transport already… Mai mult

Senate postpones discussions on DNA’s request on waiving immunity of Calin Popescu Tariceanu until February 2019

The Senate has decided that it will put to the vote the decision to waive Calin Popescu Tariceanu's immunity only in the spring session, that… Mai mult

Implementation of 5G technology, a multiplication effect in economy of EUR 4.7 billion - announces Sorin Grindeanu (ANCOM)

The National Authority for Management and Regulation in Communications (ANCOM) launched on Wednesday the National Strategy for the Implementation of 5G Technologies in Romania for… Mai mult

FIC: Amendments on Criminal Codes expose business environment to abuses from civil servants

Some of the amendments to the criminal codes will generate mistrust regarding Romanian state's ability to ensure the legality, stability and predictability of business relationships… Mai mult

European Semester / European Commission asks Romania to correct its medium-term structural deficit by 1% of GDP

Minister Eugen Teodorovici is pressured by the EU to reduce the budget deficit After finding that the Government has done nothing to adjust the deviation… Mai mult

Sovereign Fund gets legal base. Details announced by Minister Teodorovici

The Government adopted on Thursday the ordinance that provides for the general framework for the establishment of a Sovereign Fund. Later, after new talks with… Mai mult

Ford is looking for 1,700 employees to produce EcoSport SUV model

The representatives of Ford Craiova met on Wednesday with mayors of 30 localities from Dolj county in order to stimulate the attraction of 1,700 new… Mai mult

Development strategy / Government squeezes even investment money from its own companies: EUR 120 million from only two entities in energy field

Nuclearelectrica (SNN) and Romgaz (SNG) have calculated the additional dividends to be paid to the state after the Ministry of Finance (MFP) sent to the… Mai mult

DNA, officially: Senate President is suspected of having received a USD 800,000 bribe. Case file opened at a request from Austrian judicial authorities

The case file in which the DNA requested the waiving of the Senate President’s immunity was opened at the request of Austrian judicial authorities and… Mai mult

Illegal state aid / European Commission demands Romania to recover EUR 60 million from CE Hunedoara

Romania has to recover illegal state aid worth EUR 60 million granted to Compexul Energetic Hunedoara, announced the European Commission with a statement released on… Mai mult

Ministry of Finance planned loans of RON 4.74 billion in November. Costs are increasing

The Ministry of Public Finance (MFP) intends to borrow in November RON 4.74 billion, 1.4% more than in the previous month, according to the Ministry.… Mai mult

New 100% Romanian tractor has been launched. Features, endowments, price

IRUM Reghin launched the first 100% Romanian tractor, announced Digi24, designed and built by the company’s engineers, 15 years after the Romanian tractor manufacturing disappeared.… Mai mult

Romanians from abroad sent as much money to Romania as Government attracted from European funds and subsidies

Romanians working abroad sent EUR 2.695 billion to the country in the first eight months of 2018, equalling the European funds and subsidies received in… Mai mult