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Analysis: A third of Romanian exports to Russia are vehicles

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Vehicle sales represent a third of Romanian exports to Russia, recording an increase of 500 million dollars last year to 1.84 billion dollars, while electric equipment represent a quarter of deliveries. Dacia, Arcelor Mittal, Michelin and Danfoss are in the top.

 

At the end of 2013, the total volume of Romania’s commercial exchanges with the Russian Federation reached about 5 billion dollars, on the rise by 12.7% against 2012. Of that exports represented 1.84 billion dollars, 36.1% more than in 2012, and imports were 3.15 billion dollars, on the rise by 2.5% against 2012.The balance of trade dropped by 24%, ranking Russia 7th in the top of states which contributed to the commercial deficit.

 

According to statistics, Russia is Romania’s 7th commercial partner (after Germany, Italy, Hungary, France, Turkey and Poland), with a share of 3.4% of total, the 9th export partner with a share of 2.8% and the 6th import partner (after Germany, Italy, Hungary, France and Poland), with a share of 4.3%.

In Romania’s trade with countries outside EU, Russia was the second partner after Turkey, with a share of 13.15%, with exports representing 9.18% of total (2nd place) and first for imports of 17.6%. However, the commercial deficit in the relation with Russia is the third in size among non EU countries after Kazakhstan and China.

 

Vehicles represent the main group of exported goods -33.75%, followed by cars, electric equipment -25.7%, chemical products -12.4%, various products (furniture)- 5.08%, metals and metal products -4.85%, plastic materials -4.08%, wood, wood coal -3.98%, and vegetal products -2.8%.

Crude oil and products dominate imports from Russia, with a share of 64% in 2013, followed by natural gas -17.2%, plastic materials -3.2%, ores - 2.7% and common metals -2.3%.

Romanian companies in the exporters’ top to Russia are Automibile Dacia, Michelin, Kronospan, Egger, Arcelor Mittal Galati, Pirelli Tyres Romania, Terapia, Lafarge Ciment Romania and Danfoss Romania.

 

Since the annexation of Crimea and the secession fights in Ukraine, EU has set up economic sanctions against Russia for the role played in supporting separatist actions in Eastern Ukraine. Sanctions do not refer to commercial activities but the financial industry and certain very large companies from Moscow.

 

Russia made several decisions to answer the sanctions imposed by the international community, the most recent being the interdiction of beef, pork, poultry and fish meat, cheese, milk, vegetables and fruit coming from the US, EU, Australia, Canada and Norway.

 

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