The structure of Romania's exports has improved over the last few years, but they continue to account for a low percentage of GDP, about 30%, with limited potential to boost the economy. Cars and transport equipment continue to account for the largest share of Romania's foreign trade, followed by manufactured products.
"The export structure does not primarily depend on us, but on the international investors operating on various markets with global thinking. It is very important that we should have a friendly and predictable economic environment. We must be efficient. The export share of GDP may increase in the coming years if there is a clear strategy and we start stimulating various sectors, such as the energy industry," says Lucian Anghel, BCR's chief economist.
Stimulating exports of certain product categories is part of every country's strategy, with Romania currently shifting to higher value added exports.
The structure of Romania's exports has improved over the last few years, but they continue to account for a low percentage of GDP, about 30%, with limited potential to boost the economy. Cars and transport equipment continue to account for the largest share of Romania's foreign trade, followed by manufactured products.
"The export structure does not primarily depend on us, but on the international investors operating on various markets with global thinking. It is very important that we should have a friendly and predictable economic environment. We must be efficient. The export share of GDP may increase in the coming years if there is a clear strategy and we start stimulating various sectors, such as the energy industry," says Lucian Anghel, BCR's chief economist.
Stimulating exports of certain product categories is part of every country's strategy, with Romania currently shifting to higher value added exports.
