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Romania’s Car Exports To Germany Exceeded Imports In 2009

Romania exported more cars to Germany than it imported last year, moving from a trade deficit of EUR762.8 million on the auto sector in 2008, to a trade surplus of EUR306.4 million in 2009, according to the National Institute of Statistics (INS).
Romania’s Car Exports To Germany Exceeded Imports In 2009
22 mart. 2010, 13:48, English

INS president Vergil Voineagu explained the trade deficit with Germany dropped 67.4% last year, mainly over increasing car exports, cheered on by the German government’s clunkers program. Thus, Germany became Romanian carmaker Dacia’s main export destination, with 84,708 units sold last year, up 231.3% compared to 2008, according to the carmaker’s data.

Romania is among the EU member states which reported the largest change in the balance of trade last year. Aside from Germany, Romania has run a trade deficit with Hungary, China, Kazakhstan and Russia.

Voineagu said the trade deficit with Hungary narrowed 22%. There was also a significant improvement in the balance of trade with Russia, although exports to this country are insignificant. On the other hand, Romania imported 44% less crude oil and 65% less natural gas last year.

The number of exporting companies in Romania dropped to 21,933 from 24,645 in 2008. Of these, 745 companies accounted for more than 80% of total exports.

In 2009 there were 68,496 importing companies, significantly fewer than the 80,780 in 2008. Some 1,113 firms, with a turnover of more than EUR5 million, account for 70% of total imports.

Romania’s trade deficit decreased 58.58% in 2008-2009, to EUR9.74 billion. Exports dropped 13.9% to EUR29.03 billion, while imports fell 32.3% to EUR38.77 billion in 2009.