Ten markets in Romania post trading surplus, 20 have deficit

Romania’s international trade had ten markets with a surplus and 20 sectors with a deficit last year. Romania had a EUR 1.7 billion surplus in agriculture products, but recorded a EUR 1.76 billion deficit in food products, reports local Ziarul Financiar. The trade with motor vehicles posted the highest surplus, of EUR 4.36 billion, as carmakers Dacia and Ford are among the biggest exporters. Romania also had a EUR 1.84 billion surplus in the clothing industry, as many well-known international brands make their clothes in Romania, due to the cheap labor force. Romania also had a EUR 1.44 billion surplus in furniture, as several factories in Romania work with Swedish group Ikea. Romania also exported more timber products, tobacco, and fuel than it imported. On the other hand, Romania’s biggest deficits were recorded in the oil sector (some EUR 3.7 billion), as Lukoil and Rompetrol import their oil from Russia and Kazakhstan, in chemicals (EUR 3 billion), in computers and electronics (EUR 2.4 billion), and pharmaceuticals (EUR 1.8 billion). Romania also had a EUR 1.7 billion deficit in the textile industry, as most of the clothes produced in Romania use imported fabrics. editor@romania-insider.com