SIMILAR ARTICLES

Romania’s budget issue: toxic mix of “American” revenues and “European” spending

Relatively recently joined the functional market economies club, although it has multiple pending development (not just economic) issues, Romania looked around and chose a poisonous… Mai mult

Spectacular GDP growth in Q1: 5%, in the context of rhythm decline in manufacturing to just 1.2%. Dilemmas

Gross Domestic Product for the first quarter of 2019 increased by 5% in real terms compared to the same period of the previous year (5.1%… Mai mult

Equation of public employees in Romania’s expenses compared to EU

Simply put, data recorded over time in the monthly budget implementation published by the Ministry of Finance indicate a share of staff costs in total… Mai mult

Foreign groups of enterprises in Romania and areas where they operate. Hierarchy changes

Germany (16.9%), France (11.7%) and Italy (9.5%) are the countries with the largest share in Romania’s economy by the number of employees in 80,905 groups… Mai mult

Budget implementation in Q1, short and simple: wages and social spending up, general and local investments down, co-financing for projects implemented with European money down

The general consolidated budget recorded, after the first two months of 2019, a deficit of about RON 5.5 billion, equivalent to 0.54% of the GDP… Mai mult

Cronicile
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

4.2%, from 3%: BNR has increased inflation forecast for 2019

The National Bank increased the inflation forecast for 2019 by 1.2 percentage points, from 3% to 4.2%. Also, the forecast for 2020 goes up by… Mai mult

Emergency procedure at European Court of Justice for Romania’s question: Are MCV recommendations mandatory?

The Court of Justice of the European Union (CJEU) has decided that Bihor Court’s request to be discussed under the emergency procedure, which is a… Mai mult

Government decides to increase external borrowing ceiling by EUR 4bn. It has consumed program resources for two years

The Government's agenda for Wednesday also includes the draft decision to increase the foreign loans ceiling for 2019 and 2020 by EUR 4 billion, up… Mai mult

Preparations for Summit in Sibiu - European Commission’s recommendations for EU's strategic agenda

On Tuesday, the European Commission presented a series of policy recommendations on how Europe can shape its future within an increasingly uncertain and multipolar world.… Mai mult

Meeting between Prime Minister Viorica Dancila and Chinese Prime Minister Li Keqiang: talks on a possible involvement of Chinese companies in PPP projects in Romania

On Friday, Prime Minister Viorica Dancila had a meeting with Chinese Prime Minister Li Keqiang, during which she stated her interest in involving Chinese companies… Mai mult

So-called "Belina Law" was adopted. Opposition will refer CCR: it turns Belina Island into a fiscal paradise

The Chamber of Deputies adopted on Tuesday the bill that provides for a derogating tax regime, such as tax exemptions or reductions, for land and… Mai mult

Deveselu shield is undergoing an upgrade process; the US provides alternative defence capabilities with THAAD systems

Aegis Ashore anti-missile system installed at Deveselu 99 Military Base will go in the next period through a previously planned upgrade process, the MApN announced… Mai mult

How 2019 began: Investments, allocations by 78.5% lower than the same period of 2018. 21% decrease in co-financing for attracting European funds

The consolidated general budget recorded a deficit of 0.5% of GDP in the first two months of 2019 namely RON 5.2 billion, a "performance" only… Mai mult

Romania's GDP exceeded Portugal’s in 2018: which has a population two times lower and a GDP/inhabitant twice as high

Romania's economy exceeded, at current prices in euros, Portugal's economy in 2018, a country with a population and a surface two times smaller as Romania.… Mai mult

Document / Draft to amend "Greed Ordinance"

The Ministry of Public Finance published Tuesday evening, a day and a half before the approval in the Government, the draft OUG that amends the… Mai mult

The two OUGs on judiciary for the three files are ready and submitted to Government

The Justice Ministry has prepared the two OUG drafts for which the coalition has put much pressure on the Justice Minister Tudorel Toader before granting… Mai mult

ECOFIN / Tax havens list has been updated. Politico: Eugen Teodorovici took EU Finance Ministers by surprise

Finance Ministers of the EU voted on Tuesday at the third meeting of the Council for Economic and Financial Affairs (ECOFIN) chaired by Romania, the… Mai mult

March 15, 15:00, for 15 minutes: Romania really wants highways!

Dozens of companies, mayoralties, sports teams, public figures, organizations and many ordinary people joined the protest "Romania wants motorways". Of course, the country did not… Mai mult

Facebook has removed 30 pages and PSD propaganda accounts in Romania

Facebook announced Thursday that it has closed hundreds of false accounts promoting false content in the UK and in Romania and this is the first… Mai mult

Laura Kovesi, indicted in a second case opened by Magistrates' Investigation Section

Laura Codruta Kovesi was indicted on Thursday in a second case. The section for investigating the crimes committed by magistrates accused her of having led… Mai mult