BCR: At euro zone productivity, Romania's agriculture could feed four countries its size

Romania's agriculture merely contributed to the economic growth in the last ten years, compared to its weight of the GDP, mainly due to the high dependence on weather conditions and the diminished investments, shows a recent report issued by lender BCR. At a similar productivity as the euro zone, Romania could double its agricultural production and triple its exports, fueling the consumption for four countries the size of Romania. “Although on an downwards trend in the last 20 years, the Romanian agriculture still has an important weight of the GDP, compared to other countries in the CEE of the euro zone- 7 percent in Romania, compared to 4 percent in Poland and Hungary and 2 percent in France. The potential is however high, as Romania ranks 5th in EU 27 based on the ploughable land area. In 2010, Romania ranked in the first 10 corn producers worldwide, with a production of over 9 million tonnes, in a year with favorable weather,” said Lucian Anghel, chief economist for BCR. Subsistence exploitations are widespread in Romania, and properties are crumbled. The increase in the quality of education in agriculture is important in ensuring sustainable development, according to the report. editor@romania-insider.com (photo source: Sxc.hu)