Exports to achieve a new historic high, exceeding import growth

2014-10-04 12:17:35 - From the Print Edition

A good agricultural production and improved production capacity helped Romania to achieve in July a new record high of 4.8 billion Euro in exports growth, outpacing that of imports. According to Ziarul Financiar, for the rest of the year, a slowdown in export growth is anticipated in the context of major European economies hitting the brakes, but the overall volume of 2014 may remain around last year′s peak of 50 billion Euro.
Exports grew in July by 6.6 per cent, while imports grew by 4.8 per cent - compared to the same month last year - to 5.3 billion Euro. The rise was stimulated by the seven per cent sales increase in the European Union, but also by the revival of exports outside the community. "International trade figures for Romania came in July with a positive surprise; exports have recovered - 6.6 per cent year-on-year versus 5.4 per cent y-o-y in June - and exceeded import growth - 4.8 per cent y-o-y, down from 9.2 per cent y-o-y in June," said Catalina Molnar, chief economist at UniCredit Tiriac Bank. In July, Romania grain exports were about 300 million Euro. Companies in the agricultural commodities trade exported in July 2.6 million tonnes of grains and oilseeds from the port of Constanta, which is a historical record in the last seven years and a business that has contributed 500 million Euro into the exporters' accounts.