Exports' growth rate during first semester above imports' growth rate (minister)

The growth rate of exports during the first semester of the year was above that of the exports, namely 10 percent, as compared to 9.7 percent, and this trend needs to be consolidated, the Minister for Business Environment, Commerce and Entreprenurship, Stefan Oprea told on Thursday the International Business Forum. 

"The GDP's growth in the last year, a record rate in the EU, forces us to move on to a new stage, of opening up the economy to the foreign markets in a smart way. The short and medium term strategic objective is to level the commercial balance, in order to eliminate the macro-economic vulnerabilities", Radu Stefan Oprea said. 

"In 2017, Romania registered an export value of 41 percent of the GDP," the Minister for Business Environment specified. 

According to him, the EU is Romania's main commercial and investment partner, this area representing 76 percent of commercial trade and approximately 90 percent of foreign investments attracted by our country. Among the first 10 Romanian export destinations, 9 are EU member states, totalling 62 percent of all exports. On the other hand, among the first 10 supplying countries for Romania, 7 are EU member states, representing 55 percent of all imports. 

Radu Stefan Oprea says that the EU area generates 75 percent of Romania's commercial deficit, namely almost 10 billion Euro. Among the 10 countries with which we have deficit, 6 are EU member states, and surplus is registered with only 8 of the 27 EU member states, with a total amount of 1.35 billion Euro. 

The United Kingdom is the top ranking country where surplus is concerned, with a surplus of 873.3 million Euro in 2017, but it dropped from 953.3 million Euro in 2016 - and as an effect of Brexit. 

Among the countries that are outside the territory of the Community, among the first 10 deficit generators are China, The Russian Federation, Kazakhstan and Turkey, and concerning the surplus, the relation with Morocco, the Republic of Moldova, Algeria, Egypt, The Marshall Islands, Saudi Arabia, Lebanon and the United Arab Emirates are the ones that stand out.