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What sectors may be affected should troubles in Romania-Russia relations hit economy

Luni, 23 august 2010, 11:50 English | Business

The troubles in Romanian-Russian relations lately may have economic repercussions, officials such as the head of the Russian State Duma have warned. In order to evaluate the economic sectors that may be affected should such a tendency prove real, has obtained the history of trade relations between the two countries in the first half of 2010.

Figure-wise, the economic relations look as follows: Romanian imports from Russia in the first six months of 2010 amounted to 1.8 million tones of goods valued at a total of 1.03 billion euro. In the same period, the country exported to Russia 65,000 tones of goods valued at 366 million euro. The trade deficit with Russia amounts to over 600 million euro.

Imports focused mostly in fuel and mineral oils - over 950 million euro, followed by imports of cast iron, iron and steel - 18 million euro, and minerals - over 11 million euro. Romania also imports paper and rubber in amounts valued at some 7 million euro each.

Instead, Romania exports focused on pharmaceutical products (over 32 million euro) and grains (7 million euro).

The most sensitive sectors are thus those of fuels, minerals and construction works materials. A possible limitation of trade in these sectors may lead to economic problems in Romania.

The Russian Federation is the 12th most important trade partner for Romania with less than 2% of total exports, despite that the volume of trade rose in 2010 as compared to 2009. In terms of imports, Russia holds 4.8% of the total Romanian imports - double the volume reported in the first half of 2009.

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