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Analysis: Romania must focus on the encouragement of the domestic production and exports
Romania must focus on the encouragement of the domestic production and exports, and the relaunching of the economy depends on the stimulation of direct foreign investments and exports, shows an analysis made by the experts from Moneycorp Romania, according to which many investors will see the Chinese market with reserve, the main exporter of the world, and the Europeans will be more careful at price and goods origin.
From #buy Romanian# to # produced in Romania# the Romanian economy is in the blockstart for economical relaunching, they say.
The experts from Moneycorp consider that in an economy strongly affected by the effects of coronavirus pandemics, many investors will see with reserve the Chinese market, the main exporter of the world. In the new interna?ional context, where the US and the EU rethink their macro-economic strategies, the Romanian companies have chances to get significant contracts, as the range of export products has increased significantly over the last years.
‘Romania has registered in 2019 the best result in history as exports, of 69 billion euro, in line with our estimates, 2020 started well but the lockdown period, generated by pandemics as well the following months of relaunching of the activity will seriously affect the export potential. In this context, our estimates indicate a level of exports of 60 billion euro this year and a coming back towards the level of 70 billion euro in 2021’ says Cosmin Bucur, the general manager Moneycorp Romania.
‘The evolution of Romanian exports will depend, mainly, on the way in which our main commercial partners from Europe, Germany, Italy and France will come back from the economic point of view. The premises are in the area of uncertainty, having into consideration huge financial packages announced by Brussels to relaunch European economy, everything depending on the way in which the economies in the euro area will collaborate for the economic relaunching’ Bucur said.
For Romania, the following period will bring a series of opportunities for the Romanian products as regards the rate price-quality, as they are in an attractive area, from construction materials to food produce, textiles, and cars, say the experts from Moneycorp.
Romania exported most products and services to Germany – 15.4 billlion euro (29.3% of the total) Italy – 7.7 billion euro, (14.7%) France – 4.7 billion euro (9%), Hungary – 3.3 billion euro (6.3%) the UK – 2.5 billion euro (4.9%) – Poland -2.4 billion euro, (4.6%) – Bulgaria – 2.4 billlion euro ( 4.6%)and the Czech Republic 2.1 billion euro (4.1%).
The list of export destinations for made in Romania products includes in the order of value the Netherlands, Spain, Austria, Slovakia, Belgium, Greece and Sweden. From the countries outside the EU, the most wanted export destinations for the Romanian products were Turkey, (2.2 billion euro), the US (1.3 billlion euro), the Republic of Moldova (1.2 billion euro) and Russia ( one billion euro).
According the analysis Moneycorp, the evolution of Romanian exports will depend in a significant measure, on the way in which the authorities will support the relaunching of economy Claudiu Ghebaru, senior dealer in the company says that the development of some programmes for the stimulation of production with EU funds or from the state budget, will offer a significant boost to the economy, especially in the IT&C sector , in the context of the fourth industrial revolution, Industry 4.0 to which Romania will have to access.
Beyond the IT sector, the development of the infrastructure of transport (road, air, rail, maritime) will support the Greenfield investments in economy, the only which can bring a solid economic evolution. Present since 2016 in Romania, Moneycorp is the biggest institution for payments in Europe. In 2019, the company traded at global level over 40 billion euro and made payments to over 190 countries.In Romania, Moneycorp works with over 700 companies corporate and SMEs in various domains such as IT&C, Insurance, Industrial equipment, FMGC or medical.