In the past half-decade, Romania has experienced a series of crises that have significantly impacted the country’s exports and imports, leading to a restructuring of the trade landscape. These changes have been influenced by various factors such as the pandemic disruptions, surging energy prices, fluctuations in raw material costs, and shifts in supply chains.
The data from the last six years, with 2024 data only covering 11 months, reveal alterations in the distribution of key product categories. The top five product groups analyzed collectively contribute to 88.1% of total exports and 88.5% of total impor[mepr-show rules=”1611″ unauth=”both”]ts.
One notable trend is the rise in food imports coupled with a decline in food exports. This fluctuation is often tied to weather conditions affecting agricultural yields. Moreover, the chemical industry stands out with a significant trade deficit, primarily driven by higher import levels compared to exports.
The automotive sector remains a crucial player in Romania’s trade, with vehicle and transport equipment exports being a cornerstone of the country’s manufacturing sector. However, the light industry, encompassing clothing and footwear, faces challenges with declining production and increasing imports due to rising wages.
As Romania navigates through these trade dynamics post-crisis, uncertainties loom over the future trajectory of its trade balance. The deepening trade deficit underscores the need for strategic measures to enhance competitiveness and sustainability in the foreign trade sector.
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