Trade volume between Germany and Romania recovered slightly in Q1

The trade volume between Germany and Romania recovered slightly in the first quarter. Thus, German exports to Romania amounted to 4.5 billion euros, up 3.6% over the same period in 2020, and imports have reached 3.8 billion euros, up 0.9%, according to a release sent to AGERPRES on Tuesday.

The data published by the Federal Statistical Office (Destatis), quoted by AHK Romania in the release, show that Romania ranks 19th in the chart of Germany's trading partners in the mentioned period, with a volume of 8.3 billion euros. In 2020, Romania ranked 20th, with a trade volume of 30 billion euros.

According to the quoted source, after a decrease in trade between Germany and Romania in January and February, they recovered significantly in March 2021.

"We are confident that the recovery in trade relations in the first three months of this year will continue and we will be able to reach the level of 2019 by the end of the year. Relaxation measures and vaccination campaigns in many European countries are already showing their effects. Regarding a very topical issue, namely re/nearshoring, against the background of consolidating the resilience of supply chains in the context of the pandemic, we see good opportunities for Romania. This topic is intensely debated at European level at the moment and we hope that Romania will be actively involved," said Sebastian Metz, general manager and member of the Board of Directors of AHK Romania.

The trade volume between Germany and Romania decreased by 10% in 2020 to 29.36 billion euros. Last year, total exports to Romania amounted to 15.8 billion euros (-5.9%), and imports amounted to 13.5 billion euros, down 14.4% compared to 2019.

AHK Romania is the official representation office of the German economy and also the largest bilateral Chamber of Commerce in Romania. Founded in 2002, AHK has about 600 member firms and provides companies with an important platform for networking, information exchange and experiences. Through the services it offers and the events it organizes, AHK Romania actively supports German companies in their entry on the Romanian market and is also a partner of Romanian companies interested in the German market.