Comparative Performance Assessment of Foreign Trade Flows in Agri-Food Products between Romania and Italy

Marius Constantin and Donatella Privitera
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Marius Constantin: Bucharest University of Economic Studies, Bucharest, Romania
Donatella Privitera: University of Catania, Catania, Italy

PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON ECONOMICS AND SOCIAL SCIENCES, 2024, vol. 6, issue 1, 11-23

Abstract: Agri-food supply chains are increasingly vulnerable to the pressures and disruptions stemming from geopolitical instability, pandemics, population growth, and various societal, economic, and environmental challenges. At this critical moment, the study of foreign trade flows in agri-food products is of high importance to the European Union, considering that the results of such evaluations could assist in the development of strategies to optimise trade flows in alignment with emerging market opportunities. Both endowed with abundant factor resources, Romania and Italy have the opportunity to leverage their advantages in this turbulent global environment. By assuming leadership roles within the European Union, they can strengthen the competitiveness of their agri-food sectors. Given this context, the objective of this research was to propose strategic directions to improve the level of food security and economic performance of the Romanian and Italian agri-food sectors, according to the findings derived from a comparative assessment of foreign trade flows. Therefore, this article addressed a literature gap by proposing an assessment framework focused on mapping trade patterns that can mutually maximise economic benefits. Descriptive statistical analyses and a correlation matrix were performed based on the data extracted from the International Trade Centre's database, covering the period from 2013 to 2022. This research revealed a fundamental contrast: Due to limited processing capabilities, Romania is dependent on exporting low-priced, unprocessed agricultural materials, mainly cereals and oil seeds; while Italy excels in exporting processed agri-food products with high added value, namely beverages, spirits, vinegar and preparations of cereals. Both countries should intensify collaboration by leveraging their respective strengths to counterbalance their weaknesses, thereby leading to the mutual advancement of their agri-food sectors.

Keywords: foreign trade performance; trade balance; economic competitiveness; food security; agri-food sector. (search for similar items in EconPapers)
JEL-codes: F10 Q17 (search for similar items in EconPapers)
Date: 2024
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