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Economic

Online transactions up 25 pct, median value of orders up 22 pct in this period

Tuesday, March 31, 2020

The number of online transactions grew by 25 pct last week, while the median value of orders placed increased by 22 pct against the same period of 2019, according to a statistics released Thursday by MerchantPro platform. At the level of the first three weeks of March, an increase of 18 pct was recorded in the number of the orders taken by the online operators with the said platform vs the same period of 2019.Only in the past week (16 - 22 March), ...

Shops in mall delivering electronics, household goods at home, not to be shut down

Tuesday, March 31, 2020

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The shops in the malls which deliver electronics and household goods at home will not be closed, on Tuesday night announced the Interior Minister Marcel Vela."The temporary suspension of the commercial activity, according to paragraph 1 of the article that restrains the malls' activity, so to say the commercial centers, does not apply to the sale of electronics and household goods by the economic operators which ensure the delivery at home or at the buyer's venue, ...

Nielsen analysis: Retail sales in Romania up by over one third from 23 February to 15 March

Tuesday, March 31, 2020

Romania recorded in the period between 23 February - 15 March an increase by 37.2 pct of the sales in retail, versus the same period of 2019, the most important leaps being recorded at the personal care products and food, an analysis by the Nielsen specialists says. According to Nielsen analysts, our country has crossed the first four stages of behaviour and is currently one month after the local pandemic of COVID-19 has irrupted, already in the fifth stage, ...

Real Estate: CTP buys Equest Logistic Park for roughly EUR 30 M

Tuesday, March 31, 2020

CTP, a premium industrial park developer operating in Romania and Central and Eastern Europe, has expanded its portfolio in the vicinity of Bucharest, on the A1, at Km 13, the ground zero of the industrial logistic market in Romania, buying Equest Logistic Park for approximately EUR 30 million from Forum Serdika. The Cushman & Wakefield Echinox team that managed the sale process and assisted the seller was led by Tim Wilkinson, Partner Capital ...

Bucharest service-driven economy among most insulated in Europe to the new COVID-19 outbreak

Tuesday, March 31, 2020

The Bucharest economy stands as one of the most insulated service centers in Europe to the negative fallout related to the COVID-19 outbreak, according to Colliers International consultants, who analysed scenarios for various segments of the real estate market. This is largely due to Bucharest’s heavy reliance on IT&C activities as well as scientific and professional services, on par with European capitals like Dublin, Paris and London.  ...

Agriculture: Romania ends 2019 on 1.225bn-euro deficit in agri-food trade

Tuesday, March 31, 2020

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Romania registered a deficit of 1.225 billion euros in agri-food trade in 2019, up 8pct compared to 2018, when it amounted to 1.133 billion euros, according to the Ministry of Agriculture and Rural Development (MADR).Last year, the value of exports increased by almost 11pct, amounting to 7.199 billion euros, while imports increased in value by 10.3pct, to 8.424 billion euros.The total quantity of agri-food products exported between January and December ...

Trade: COVID-19 pushes up sales of notebooks, TVs and gaming consoles

Tuesday, March 24, 2020

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Romanian electro-IT retailer Flanco, with an annual turnover of RON 1.2 bn (EUR 250mn) and over 150 stores throughout the country, says that notebook sales have increased by about 30% amid the restrictions enforced to limit the spreading of the new coronavirus in Romania, as more and more companies have been buying laptops to equip their employees so they can work from home. Sales of video gaming consoles have also recorded an increase of 40-50% as ...

Cars: APIA: 20% drop of automobile market in Romania in first two months

Tuesday, March 24, 2020

The automobile market in Romania recorded a drop by 20.2% in the first two months of the year, compared to the same period of 2019, 62% of sales being supported by juridical persons, according to statistics made by the Association of Automobile Manufacturers and Importers (APIA). Specialists point out that the evolution in Romania is in line with that in Europe and to some extent can be explained by the market evolution, generated by observing more ...

ACAROM: National car production grows 7.71 pct in February and exceeds 48,000 units

Tuesday, March 24, 2020

Over 48,000 cars were produced in Romania in February this year, showing an increase of 7.71 pct, compared to the same period of 2019, reveal the statistics published by the Association of Automobile Manufacturers of Romania (ACAROM).According to the centralized data, of the total 48,038 cars produced at the national level, 27,883 units belonged to the Dacia plant in Mioveni, and 20,155 units came out of the Ford factory in Craiova.Overall, in February ...

Tourism: About 86% of hotel owners consider coronavirus epidemic is real threat for domestic tourism

Tuesday, March 24, 2020

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About 86% of hotel owners consider coronavirus epidemic is a real threat for domestic tourism, as they have already recorded a considerably lower number of reservations for the months of March and April and last week they registered the first cancellations, according to a study made by hotel reservation site TravelMinit.ro. According to the same study, the biggest drop of the number of registrations, compared to 2019, was for the Easter period (76.7%), ...

Athenee Palace Hilton suspends activity for first time in 106 years

Tuesday, March 24, 2020

Athenee Palace Hilton suspends its activity as of March 23 for the period of the emergency situation, for the first time in 106 years of activity, Ana Hotels Group owned by businessman George Copos announces. Athenee Palace Hilton, a historic building and one of the most important tourist attractions in Bucharest suspends its activity after 106 years since its opening. The measure applies to the period of emergency state as of March 23. “It is a decision we make ...

In 2019, the non-resident tourists arrived in Romania spent on average 2583.1 lei/person

Tuesday, March 24, 2020

In Quarter IV 2019, the total number of non-residents in collective tourist accommodation*) was 563.7 thousand and their expenditure amounted per total 1410.0 million lei. In 2019, the total number of non-residents in collective tourist accommodation was 2669.5 thousand and their expenditure amounted per total 6895.7 million lei. In Quarter IV 2019, the main reason of the ...

Hard effect of coronavirus - 50% of hotels in Romania are closed

Tuesday, March 24, 2020

About 90 hotels out of a total of 900 permanently operating in Romania have already been closed due to lack of customers, and another 40% will be closed soon, data obtained ...

Infrastructure : Govt. hopes to build Comarnic-Brasov motorway by 2026

Tuesday, March 24, 2020

The 52-km motorway stretching from Comarnic to Brasov, the section of the Ploiesti-Brasov motorway that crosses the Carpathians that raises the most difficult technical problems, will be split into five segments auctioned separately, according to a Government plan consulted ...

Healthcare: Up to EUR 4 billion worth of counterfeit pharmaceuticals traded worldwide

Tuesday, March 24, 2020

Antibiotics, lifestyle drugs and painkillers the most targeted by counterfeiters Customs seizures include counterfeit malaria, diabetes, cancer and heart disease treatments Growth in small parcel deliveries is facilitating trade in fake pharmaceuticals A new report released Monday by the European Union Intellectual Property Office (EUIPO) and the ...

Cars : New and used car registrations drop by 5.66 pct, in first two months of 2019

Tuesday, March 17, 2020

Over 93.300 new and used cars were registered in the first two months of this year in Romania, a drop of 5.66 pct over the same period of 2019, the statistics of the Directorate for Drivers Licenses and Car Registrations (DRPCIV) show.According to the quoted source, of the total registrations of new cars, recorded in the January - February interval, most were: Dacia - 5,744 units, a drop of 38.11 pct over the same interval of the previous year, followed by Volkswagen ...

Maintenance and repair of vehicles, motorcycles and market services increase in January 2020

Tuesday, March 17, 2020

The wholesale and retail turnover, maintenance and repair of vehicles and motorcycles increased as gross series by 3.8 percent in January 2020 compared to the same period of 2019, according to data released by the National Institute of Statistics (INS) on Monday. In January 2020 against January 2019, the total volume of wholesale and retail turnover, maintenance and repair of vehicles and motorcycles, as adjusted series according to the number of working days and seasonality ...

Tourism : Tourism industry asks Govt. for support amid coronavirus crisis

Tuesday, March 17, 2020

Private entities in Romania’s tourism sector have invited the authorities to identify together measures that would diminish the negative consequences for the hospitality industry in the context of the spread of Covid-19 in Romania. Among the measures suggested by private operators in the tourism industry are the exemption from paying income taxes for the next three months, with the possibility of extending the measure for six months in case of necessity, full deductibility for ...

Study: Hospitality industry, strongly affected by coronavirus

Tuesday, March 17, 2020

The hospitality industry is strongly affected by the spread of coronavirus, and companies in this industry are expecting a 50-60% drops in revenues, according to a study by the Hospitality Culture Institute released on last Friday.Hotels, transport and travel agencies report massive declines in bookings and cancellations of events. With these, the food service industry is feeling a major impact.Thus, over the last two weeks there has been a decrease by more than 20% ...

Real Estate: Vacancy rate on Bucharest office market to rise this year

Tuesday, March 17, 2020

Office space deliveries in Bucharest will decrease this year to 200,000 square meters (sqm), from over 286,000 sqm in 2019, but are expected to reach 500,000 sqm in 2021, according to estimates included in an analysis made by the real estate consulting company Colliers International. In the medium term, this will predictably increase the competition between developers, and between developers and owners of existing modern buildings, who were left with 140,000 sqm vacant space after ...

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