Romania-Germany trade reaches EUR 18.4 billion in H1

The trade volume between Germany and Romania maintained its upward trend in the first half (H1) of 2022, amounting to EUR 18.4 billion, according to the latest figures from the Federal Statistical Office (Destatis) quoted by AHK Romania.

The H1 2022 figure is 12.3% higher compared to the same period last year when it stood at EUR 16.4 billion.

Germany's exports to Romania amounted to EUR 9.8 billion, representing an increase of 8.8% YOY, while the imports from Romania totalled EUR 8.6 billion, up 16.6%. These figures place Romania 19th among Germany's top trading partners in terms of exports and 21st for imports.

"The development of Romanian-German economic relations is gratifying, especially in the current difficult international context. We are witnessing a substantial interest of German companies to open businesses in Romania and to expand their activities here, which lays the foundations for even better development of bilateral trade," said Sebastian Metz, general manager and member of the Board of Directors of AHK Romania.

He believes that if this dynamic is maintained, the value of bilateral trade will approach EUR 40 billion in 2022.

"Given the reorientation of international supply chains, but also due to the opening of new natural gas fields, Romania represents a good investment location for the German economy. However, bilateral relations cannot be separated from global geopolitical developments. High inflation, high interest rates, rising energy prices, existing blockages in supply chains, and low consumer confidence are just a few factors that are putting more and more pressure on the economy," Sebastian Metz added.

AHK Romania is the official representation of the German economy and also the largest bilateral Chamber of Commerce in Romania. Established in 2002, it has more than 550 member companies.

irina.marica@romania-insider.com

(Photo source: Ruletkka/Dreamstime.com)

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Romania-Germany trade reaches EUR 18.4 billion in H1

The trade volume between Germany and Romania maintained its upward trend in the first half (H1) of 2022, amounting to EUR 18.4 billion, according to the latest figures from the Federal Statistical Office (Destatis) quoted by AHK Romania.

The H1 2022 figure is 12.3% higher compared to the same period last year when it stood at EUR 16.4 billion.

Germany's exports to Romania amounted to EUR 9.8 billion, representing an increase of 8.8% YOY, while the imports from Romania totalled EUR 8.6 billion, up 16.6%. These figures place Romania 19th among Germany's top trading partners in terms of exports and 21st for imports.

"The development of Romanian-German economic relations is gratifying, especially in the current difficult international context. We are witnessing a substantial interest of German companies to open businesses in Romania and to expand their activities here, which lays the foundations for even better development of bilateral trade," said Sebastian Metz, general manager and member of the Board of Directors of AHK Romania.

He believes that if this dynamic is maintained, the value of bilateral trade will approach EUR 40 billion in 2022.

"Given the reorientation of international supply chains, but also due to the opening of new natural gas fields, Romania represents a good investment location for the German economy. However, bilateral relations cannot be separated from global geopolitical developments. High inflation, high interest rates, rising energy prices, existing blockages in supply chains, and low consumer confidence are just a few factors that are putting more and more pressure on the economy," Sebastian Metz added.

AHK Romania is the official representation of the German economy and also the largest bilateral Chamber of Commerce in Romania. Established in 2002, it has more than 550 member companies.

irina.marica@romania-insider.com

(Photo source: Ruletkka/Dreamstime.com)

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