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Romanian foreign trade after Brexit - impact, main challenges and limits

Elena Banica and Valentina Vasile ()

Romanian Journal of Economics, 2017, vol. 45, issue 2(54), 63-86

Abstract: The Romanian foreign trade has significantly changed after 1990. The privatization of state companies, the economic restructuring and the EU a1ccession had impacted not only on the size and export diversity but also on the trade structure and the commerce routes inside and outside EU single market. The paper presents trade relation of Romania with the UK in the context of the single market and analyses the Brexit impact on the foreign trade, by type of capital (domestic vs ISD), of activity (inward processing) and product technology. We demonstrate the impact of Brexit on export performance by groups of companies’ levels and some related consequences for national foreign trade model and economic performance. Romania constantly registered in the last decades a trade balance surplus with the UK and we examine the profile and peculiarities of the bilateral relations. Main conclusions are focused on export sustainability and competitiveness.

Keywords: Brexit; foreign trade; export map; export sustainability; FDI; high-tech products. (search for similar items in EconPapers)
JEL-codes: F10 F13 F21 F43 N47 O24 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:ine:journl:v:45:y:2017:i:54:p:63-86