Revenues derived from exports operated in July totalled almost 917 million dollars, thus posting an 18 percent increase as compared to the same period of the previous year, while imports climbed 31 percent as compared to July 1999, amounting to over 1.12 billion dollars.
For the first seven months, exports stood at 5.85 billion dollars, up 26 percent as compared to the same period of 1999, while imports totalled 6.96 billion dollars, 21.5 percent higher as compared to the same period of the previous year.
Trade deficit accumulated during the period January-July amounted to 1.133 billion dollars, only two percent higher as compared to the same period of 1999.
Lucian Albu, general manager of the Prognosis Institute of the Romanian Academy, states that “the exports’ increase posted on the first seven months of the year shows us that we are on the right way.”
However, Mihai Ionescu, general secretary of the National Association of Romanian Exporters and Importers, believes that this dynamics is artificial, as it is based on a conjuncture situation, without being the outcome of “economy reshaping” following investments in new technology.
Over 17 percent of goods exported in the first seven months of the year were represented by clothing items, followed by iron and steel (9.1 percent), footwear (7.9 percent), fuel and mineral oils (6.7 percent)
The important position held by clothing items is due to good results posted by companies working in the lohn system. This evolution does not necessarily mean that the clothing industry is finally recovering.
Although on a slight decrease (-4.6 percent as compared to the previous month), imports posted in July gained approximately 31 percent as compared to the same month of the previous year.
Mechanical and electrical devices account for 11 percent of total imports in the first seven months of the year.