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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at [email protected] 

 

Romania’s August foreign trade data confirm slower recovery scenario

Romania's exports contracted by 8.1% in August compared to the same month last year to EUR 4.6 billion.

The annual contraction marks a deterioration from the softer 5.1% year-on-year decline in July and does not bode well for the August industrial production figures expected on October 14.

External demand helped the industrial production reduce its annual decline to -6.6% in July, after the deep dive taken in April-May.

Still, August figures are likely to show no further improvement at best, supporting the slower recovery scenario, particularly given the deteriorating epidemiological situation.

Romania's imports in August contracted by only 4.0% year-on-year, the mildest annual contraction since April, to EUR 6.1 bln.

Consequently, the trade gap widened by nearly 15% to EUR 1.26 bln in August.

For the six months since the outset of the pandemic, Romania's exports contracted on average by 21% yoy to EUR 27.1 bln, while the imports decreased by only 16% yoy to EUR 36.0 bln. As a result, the trade gap increased by 5.4% yoy to EUR 8.9 bln. 

(Photo: Pixabay)

[email protected]

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at [email protected] 

 

Romania’s August foreign trade data confirm slower recovery scenario

Romania's exports contracted by 8.1% in August compared to the same month last year to EUR 4.6 billion.

The annual contraction marks a deterioration from the softer 5.1% year-on-year decline in July and does not bode well for the August industrial production figures expected on October 14.

External demand helped the industrial production reduce its annual decline to -6.6% in July, after the deep dive taken in April-May.

Still, August figures are likely to show no further improvement at best, supporting the slower recovery scenario, particularly given the deteriorating epidemiological situation.

Romania's imports in August contracted by only 4.0% year-on-year, the mildest annual contraction since April, to EUR 6.1 bln.

Consequently, the trade gap widened by nearly 15% to EUR 1.26 bln in August.

For the six months since the outset of the pandemic, Romania's exports contracted on average by 21% yoy to EUR 27.1 bln, while the imports decreased by only 16% yoy to EUR 36.0 bln. As a result, the trade gap increased by 5.4% yoy to EUR 8.9 bln. 

(Photo: Pixabay)

[email protected]

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