Competitiveness Of The Romanian Economy From European Perspective

The sustainable growth of economic competitiveness as a whole and of industry, in particular, is of paramount importance for Romania. A look at the literature reveals that although there is no consensus in defining and measuring competitiveness, many studies focus on competitiveness i) in a broader sense, envisaging the overall economic development, and ii) in a limited sense, concerning only the foreign trade relationships and the correlation between the domestic currency exchange rate, foreign prices and domestic inflation rates (or costs in sectors that produce tradable commodities). In such line of argument, the paper presents a picture of the Romanian economy competitiveness in the European context, focused on the analysis of real effective exchange rate, the evolution of Romania's foreign trade with the European Union and the comparative advantages/disadvantages on the European markets.