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External trade – key element of national economy evolution under sustainable development circumstances

Author

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  • Florentina Viorica GHEORGHE

    (Romanian Academy/National Institute of Statistics-Romania)

Abstract

This paper investigate some aspects related to the impact of Romania’s external trade on the sustainability of the national economy during the four periods related to the European Union membership – pre-association (1990-1995), association (1996-2000), pre-accession (2001-2006) and post-accession (2007-2014), emphasing on international flows of goods and services, net trade balance, the trade openess, export and import technological performance at national and community levels. The study addresses the issue of the economic growth, considering different steps taken by Romania in the period 1990-2014, corroborated with those of the international financial crisis which broke out in 2008. The main conclusion of the paper reveals that the evolution of external trade at macroeconomic level failed to counteract the negative effects of the economic crisis in Romania and did not contribute to the sustainability and convergence of Romania. The GDP decline in 2009 and 2010 has been recovered only partially by 2014 even if exports and imports exceeded the maximum level before the crisis.

Suggested Citation

  • Florentina Viorica GHEORGHE, 2016. "External trade – key element of national economy evolution under sustainable development circumstances," Eco-Economics Review, Ecological University of Bucharest, Economics Faculty and Ecology and Environmental Protection Faculty, vol. 2(1), pages 3-17, June.
    • Handle: RePEc:eub:ecoecr:v:2:y:2016:i:1:p:3-17
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    References listed on IDEAS

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    More about this item

    Keywords

    trade balance; deficit; export; import; economic growth; GDP; sustainable development;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

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