Exports were up 28% in 2010, but what will 2011 be like?

Exports rose above expectations last year, by 28% against 2009, to 37.2 billion euros, driven by external demand, but future prospects are not very favourable, according to analysts. Although they recorded a positive trend in 2010, exports did not manage to see the economy return to growth in the absence of a rebound of domestic demand. The potential of exports is limited, considering their low share to GDP, of around 30%.
For this year, some analysts anticipate a slowdown in the growth rate of exports. While in 2010 imports rose at a slower rate than exports, the situation is expected to reverse in the coming period.
The Romanian trade deficit fell by nearly 5% last year, to 39.8 billion RON, amid a faster rise of exports against imports.