Foreign Trade as a Main Factor to Support Economic Resilience and Sustainable Development.Case Study for Romania

Elena Banica, Valentina Vasile and Artur Emilian Simion
Additional contact information
Valentina Vasile: Institute of National Economy,Romanian Academy
Artur Emilian Simion: National Institute of Statistics

Romanian Journal of Economics, 2022, vol. 55, issue 2(64), 22-42

Abstract: The analysis of the evolution of foreign trade is important for any economy, for political decision-makers to outline the development strategy in the short, medium and long term. Aspects such as the degree of commercial openness, the relationship with partner countries on intra-EU and Extra-EU dimensions, main exported and imported products, the degree of technology are very important in economic analyses and for defining the resilience and sustainable development potential of the national economy. In this research, we analyzed Romania's international trade relations in the post-accession period, with the main objective of identifying the main features, trends and structural changes of Romanian foreign trade, considering its potential for sustainable development of the national economy in the globalization context, but also the costs and efforts they entail for building resilience. The aim is to emphasize the foreign trade pattern during the last two biggest global crises, the economic crisis in 2008-2009 and the pandemic crisis in 2020-2022, as well as the structural changes and competitiveness of the foreign trade. The results show that foreign trade remains among the most important factors supporting robust recovery after a crisis.

Keywords: foreign trade; export; resilience; sustainable development; crises. (search for similar items in EconPapers)
JEL-codes: F14 O11 O24 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.revecon.ro/articles/2022-2/2022-2-2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:55:y:2022:i:64:p:22-42

Access Statistics for this article

Romanian Journal of Economics is currently edited by Institute of National Economy

More articles in Romanian Journal of Economics from Institute of National Economy Contact information at EDIRC.
Bibliographic data for series maintained by Valentina Vasile ().