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Higher wages decrease exports

Miercuri, 11 aprilie 2007, 0:00

Exports / Imports balance in 2007

Romania’s commercial deficit was 2.56 billion euros during the first two months of the year, with imports reaching 6.93 billion euros and exports only 4.36 billion euros, the National Statistics Institute (INS) data reveal. The figure is 83.29% higher than the first two months in 2006.

The increase in exports/imports report was influenced mainly by the lowering oil exports towards the European Union, to merely a half of last year’s figures.
Another important cause was the decreasing trend in “lohn” contracts, with foreign textile know-how and equipment and local labor force.
The outsourced contracts moved towards Ukraine and even Chine, due to growing wages in Romania.

Compared to the first two months of 2006, exports grew 12.5%, while imports grew 31.3%.

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