Foreign companies favour imports

The foreign companies operating in Romania have come to account for nearly half of Romania’s trade, which amounted to 36.8bn euros in 2003, according to the data provided by the Foreign Trade Department attached to the Ministry of Economy and Trade. The point is the foreign capital companies have consolidated their position as net importers, and the investments they have made in various productive facilities in the last few years have yet to offset this. This is also because the foreign capital is still largely directed to natural resources, energy and workforce intensive sectors. Subsequently, the share of the foreign companies in the total imports of Romania rose to 46.5% last year from 43.2% in 2002. Their contribution to exports increased, as well, to 41% compared with 38% in 2002. Romania exported 15.61bn euros’ worth in commodities last year, about 939 million euros more than in 2002. The trade balance was seriously upset, however, due to the imports, which totalled 21.2bn euros, having gone up 2.32bn euros. The foreign companies operating in Bucharest and in four other counties make up half of Romania’s trade. Bucharest accounts for 29.4% of to foreign trade, followed by Timis – 8.52%, Arad – 4.41%, Sibiu – 4% and Bihor – 3.92%. ZF