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Reflections On Romania'S Trade With Eu During The Period 2007-2015

Author

Listed:
  • PAUL BOGDAN ZAMFIR

    (CONSTANTIN BRANCUSI UNIVERSITY OF TARGU-JIU, ROMANIA)

Abstract

In this paper, the author intends to highlight the overall evolution of Romania's bilateral trade relations with EU in the period 2007-2015. On this background it is important to mention that the European Union (EU) has been the main trade partner of Romania both the export and import throughout this period of post-accession. So, during the analyzed period, as can be observed from statistical data p rovided by INSSE it is obvious a general tendency of enhancing Romania's trade with EU. Furthermore, since 2007 EU has held a share of over 70% in total imports and exports of Romania. Also, relative to the evolution of Romania's trade balance in relation with EU, from statistical data presented in the paper, can be noticed that in the reference period it has known a general negative trend. There are also presented some positive progress of our country in issue of adjusting the trade balance deficit with EU. In these circumstances, can be proposed a range of macroeconomic measures formulated in direction of reducing the trade deficit, registered by our country in relation with EU. Another element of maximum visibility in this analyzed issues is represented by geographical orientation of Romanian exports and imports with EU countries. Starting from statistical data provided by INSSE through the prestigious official publication Romanian International Trade Yearbook, results clearly that in the whole of this reference period, Germany had the most significant share of over 20%, both export and import. Also during this period of post-accession, the attention of policy makers should focus on measures that will can lead to increase of Romania's trade not only with Germany, Italy, France, Hungary etc. but also with other community partners whose share in Romania's total trade with EU was a insignificant along analysed period. Thus, in the current context and in perspective for Romania is imperative necessary the proliferation, intensification and diversification of bilateral trade with all other EU countries, but with a special focus on export's potentiation towards the correction of negative trade balance in relation to European Union.

Suggested Citation

  • Paul Bogdan Zamfir, 2017. "Reflections On Romania'S Trade With Eu During The Period 2007-2015," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 170-175, February.
    • Handle: RePEc:cbu:jrnlec:y:2017:v:1:p:170-175
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    Cited by:

    1. Ceausescu Ionut, 2017. "The Importance Of Different Types Of Companies With Foreign Capital For Economic Development," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 286-291, August.

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