PERSPECTIVES AND CHALLENGES OF ROMANIA’S INTERNATIONAL TRADE RELATIONSHIPS

Carmen TODERASCU (sandu) () and Bogdan Florin Filip ()
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Carmen TODERASCU (sandu): Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, Iasi, Romania
Bogdan Florin Filip: Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, Iasi, Romania

Annals of Faculty of Economics, 2017, vol. 1, issue 1, 517-527

Abstract: The current financial crisis has highlighted the need to support a process of economic development based on the stimulation of increasing the national economic productivity and exports. In this analysis we present the evolution of international trade and its characteristics in the past decades based on data released by Eurostat, World Bank and UNCTAD. Romania's international trade was influenced by the collapse of socialist regime, the transition to a market economy, the accession to the European Union and the latest international financial and economic crisis. Based on the data for the period 1990-2015, we conclude that besides continuing the positive evolution of increasing the volume of exports, Romania’s major challenges consist in changing the structure of its traded products, favoring the exports of highly manufactured goods instead of raw materials and importing more raw materials and capital goods instead of consumer goods.

Keywords: international trade; foreign exchange; exports; imports (search for similar items in EconPapers)
JEL-codes: F10 F13 F19 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2017:i:1:p:517-527

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