fbpx Modifica setari cookieuri

SIMILAR ARTICLES

Industrial production decreases for the 8th month in a row. -3.1% in January

According to the data communicated by the NIS, in January 2020, Romania registered a new decrease in monthly industrial production, by -2.4% in gross series… Mai mult

VIDEO / Spring, first Dacia electric model, enters series production as of 2021

Dacia-Renault presented its “show car” Dacia Spring, “which prefigures the first 100% electric model of this brand” and will enter series production in 2021, according… Mai mult

Analysis / 2020 – turning point for economic balance: Political decision will choose whether or not we shall sustainably develop

With current data and based on the legislation already adopted, Romania’s public debt is forecasted to reach 91.2% of GDP, according to the analysis of… Mai mult

Maps of regional fracture in Romania’s gas, electricity and highway infrastructure

The progress in the development of Romanian infrastructure networks of utilities and roads is too slow compared to the needs and our neighbours’ progress, as… Mai mult

OUG 114 erased 24% of the total profit of energy companies in 2019. Solutions that companies approached

The administrative capping of energy prices through OUG 114/2018 contributed to a decrease of approximately 24% of the cumulative net profit of the largest electricity… Mai mult

Historical record for trade deficit, in July 2019. We also moved to monthly deficit both in transport machinery and equipment

de Marin Pana , 16.9.2019

The trade deficit in July 2019 rose sharply to the historical record of EUR 1,755.5 million, by 38% more than in the same month of last year and 55% above the level of the previous month, according to the data communicated by INS.

It should be noted that this evolution occurred in the context of a decrease by one percentage point in exports, at the same time with the increase of monthly imports by almost six percentage points.

Cumulated, for the first seven months of the year, fob exports totalled EUR 40.73 billion and CIF imports (including transport and insurance costs) EUR 50.21 billion.

Trade deficit increased to about EUR 9.5 billion, which is over 25% higher than in the first seven months of 2018 (in the context that the officially forecasted trade deficit increase for 2019 is only 11.6%).

*

Evolution of foreign trade in the fifth month of the year 2016-2019 (million euro)

Export             Import              Deficit

July 2016

July 2017

July 2018

July 2019

*

Imports coverage ratio by exports decreased to 84.5%, below the level registered last year. It is even lower than the average level registered during crisis years 2010-2012 (see table).

The gradual reorientation of the economy towards export, without amplifying in the same time the foreign deficit through the increased domestic demand, is emerging as the main way to somehow balance the national economy.

*

Evolution of imports coverage ratio by exports (FPB/FOB) during 2009-2019

Year

Coverage ratio

* after 7 months

*

The deficit recorded in the goods segment in foreign trade exchanges has already reached, after the first seven months of the year, about 4.4% of the GDP estimated for 2019.

While domestic production did not keep pace with the increase in population’s incomes, production for export lost ground for the second consecutive month, which is correlated with the weaker results in the manufacturing sector.

*

Evolution of foreign trade between January 2018- July 2019 (million euro)

January 2018

February 2018

March 2018

April 2018

May 2018

June 2018

July 2018

August 2018

September 2018

October 2018

November 2018

December 2018

January 2019

February 2019

March 2019

April 2019

May 2019

June 2019

July 2019

*

Six billion euros out of minus EUR9.5 billion – with EU countries

In the first seven months of 2019, trade exchanges with EU countries amounted to EUR 31.4 billion in exports and EUR 37.5 billion in imports (about 77% of the total in exports and 75% in imports).

On the non-EU trade segment, there have been exports of EUR 9.3 billion and imports of about EUR 12.7 billion (23% of the total in exports and 25% in imports).

Thus, there have been negative balances of around six billion euros registered in trade exchanges with EU countries and EUR 3.3 billion in the non-EU relations. It should be noted that the trade deficit share with non-euro area countries was 35% of the total, that is, above the share of about 25% that this segment has of the total foreign trade.

*

Structure of foreign trade exchanges in first seven months of 2019 (million euro)

Export             Import              Surplus/Deficit                        Share of deficit

Intra-EU28 trade

Non– EU28 trade

Total

*

We moved to the monthly deficit in transport machinery and equipment sector

The transport machinery and equipment sector (the only one we have left on a significant positive balance) declined, for the first time from one month to another, from +EUR 931 million in June to +EUR 865 million in July. In other words, the only sector that still supported the capping of the total trade deficit went “in the red” after the middle of the year.

After the increase rhythm of the surplus in the segment of transport machinery and equipment has become limited, which is why it got to cover only 12% of the foreign trade negative balance at the middle of the year compared to 17% at the end of the first quarter, now it represents only 9% in the first seven months of 2019.

*

Structure of foreign trade – main groups of goods in the first seven months of 2019

Export (million euro)   Import  (million euro)   Coverage ratio            Balance (million euro)            Balance/Total deficit

Total

of which

Transport machinery and equipment sector

Other manufactured goods

Food products, livestock

Raw materials

Fuels and lubricants

Chemicals and by-products

*

The deficit in the ​​food products segment rose to EUR 1.34 billion and the sectorial coverage ratio of imports by exports went up to 60%, compared to almost 100% just five years ago. At the same time, fuels and lubricants crossed, along with the large “other manufactured goods” group, the deficit threshold of two billion euros.

Finally, the main problem facing the foreign trade, namely the chronic deficit in trade exchanges of chemicals and by-products, has deepened. The negative balance has already reached almost EUR 5 billion and accounted for 51% of the total negative result in the foreign trade exchange.

Mergeți în homepage ›

Publicat la data de 16.9.2019

Lăsați un comentariu


NEWS

Romania is a net importer of electricity in 2020 as well

Romania imported an amount of electricity of almost 796 GWh in the first month of this year, by more than 36% above what it exported… Mai mult

Shareholders of Galati steel plant promise investments of one billion euros

GFG Alliance has committed to invest one billion euros to upgrade Galati steel plant in order to reduce emissions and increase production. Another EUR 1… Mai mult

Transport Ministry announces it has sent to Brussels the financing request for Sibiu - Pitesti highway

The Transport Ministry, as the Intermediate Body in Transport, approved the financing request for the project "Construction of Sibiu - Pitesti highway", Sections 1, 4… Mai mult

Romania and Juncker Plan: EUR 720 million attracted, of which 35% by Transgaz for BRUA

(The map of investment financed through Juncker Plan, by GDP share. Darker colours mean higher shares) The operator of national natural gas pipelines, Transgaz (TGN)… Mai mult

Top 3 reasons why young people leave Romania

Lack of trust in authorities, corruption and low living standards are the main reasons why young people leave Romania. The data is part of a… Mai mult

IMM Invest Romania – program implementing rules have been published

The Ministry of Public Finance announces that it has issued the methodological norms for the implementation of the Program for supporting small and medium-sized enterprises… Mai mult

Pollution import and car park expansion: comparisons with the other EU states

Romania is the EU country with the fewest cars in terms of the number of inhabitants, according to data recently published by Eurostat. We appear… Mai mult

Government is trying to save budget deficit: reductions in public administration system, cancellation of bonus for harmful conditions, excise duty on soft drinks

The Government is preparing the public for the first measures aimed at avoiding the budget slippage, which would be applied by the PSD-ALDE government. News… Mai mult

Laura Codruta Kovesi remains alone in the race for European Chief Prosecutor

French Prosecutor Jean-Francois Bohnert will be appointed as head of the European Financial Prosecutor's Office, a position for which he was heard on Thursday, 11… Mai mult

Romania - EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways

Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult

Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals

Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult

ANAF changes selection procedure for liquidators. Main changes

The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult

Romania loses competition for a seat at UN Security Council. MAE Excuse: Campaign started too late

Romania lost to Estonia in the final vote to get the non-permanent member position within the UN Security Council for the period 2020-2021. On Friday,… Mai mult

Business internationalization / eMAG makes a step to entry five new international markets and targets a business of EUR 2 billion

eMAG hopes to get the opinion of the Hungarian Competition Council over the next two months for the acquisition of Extreme Digital, the market leader… Mai mult