THE EVOLUTION OF THE ROMANIA'S INTERNATIONAL TRADE DURING THE HEALTH CRISIS

Constantin Anghelache, Madalina-Gabriela Anghel and Stefan Virgil Iacob
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Constantin Anghelache: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES / ARTIFEX UNIVERSITY OF BUCHAREST
Madalina-Gabriela Anghel: ARTIFEX UNIVERSITY OF BUCHAREST
Stefan Virgil Iacob: ARTIFEX UNIVERSITY OF BUCHAREST

Annals - Economy Series, 2021, vol. 5, 30-35

Abstract: The analysis based on data recorded on May 31, 2021 shows that both imports and exports increased compared to previous periods, only that the balance deficit remained quite high, becoming higher by over 1.477 billion euros. In May alone, we have a deficit of 1.2778 billion euros. From this point of view, imports create some difficulties on the domestic market, both due to putting Romanian producers in delicate situations, but especially from the point of view of the circulation of European Union products which are certainly competitive (qualitatively and price) compared to Romanian production. In fact, the National Recovery and Resilience Program had to provide several aspects that would contribute to the allocation of resources in this European Union program aimed at agriculture and the agri-food industry in Romania. However, the situation is becoming more and more delicate and we find that Romanian producers cannot sell on the domestic market, but to discuss the situation of exporting. Analysed through the prism of intra and extra-community trade, we find that both Romanian imports and exports are mostly located on imported products, which are even more expensive and harder to procure by Romanian citizens. The article is based on a study that uses the statistical methodology of comparability, data based on the index method, dynamic series and highlights, based on certain indicators, how Romania's international trade in goods and services has evolved in the first five months of 2021. The view on this period is not encouraging, in the sense that although imports and exports will increase, the share of imports in absolute terms will be higher and there is no possibility to curb this prospect. The main objective of this article is to highlight the fact that the activity of international trade in goods and services continues to bring losses in the realization of the Gross Domestic Product quarterly and total, annually.

Keywords: imports; exports; trade; deficit; evolution (search for similar items in EconPapers)
Date: 2021
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