The crisis did what the Romanian authorities and companies failed to do. The substantial trade deficits we had for years in our relationship with Russia dropped significantly in 2009, but this wasn"t thanks to a spectacular increase in exports, but rather due to the dramatic drop in commercial exchanges between the two countries.
The gap between the exports and imports dropped to over 4.1 billion dollars, in 2009, to just minus 1.2 billion dollars, meaning a three fold drop in the trade deficit.
The downside is that for the first time in several years, the commercial exchanges between Romania and Russia last year dropped 56%, when compared to 208, according to official information from the Ministry of Foreign Affairs.
According to Romanian officials, the main factor behind this state of things is the economic crisis which caused Russia to cut back on its trade relationships with other countries, including Romania.
During the last five years, the commercial exchange with Russia reached a record in 2008, when imports amounted to over 5 billion dollars, and Romanian exports barely exceeded 800 million dollars.
M.R. (Tradus de Cosmin Ghidoveanu) The crisis did what the Romanian authorities and companies failed to do. The substantial trade deficits we had for years in our relationship with Russia dropped significantly in 2009, but this wasn"t thanks to a spectacular increase in exports, but rather due to the dramatic drop in commercial exchanges between the two countries.
The gap between the exports and imports dropped to over 4.1 billion dollars, in 2009, to just minus 1.2 billion dollars, meaning a three fold drop in the trade deficit.
The downside is that for the first time in several years, the commercial exchanges between Romania and Russia last year dropped 56%, when compared to 208, according to official information from
