Loading ...Romanian-British commercial exchanges hit 2.25 bln euros in 2007, up by almost 15% from the 1.97 bln euros registered in the year before, Romania’s Embassy in London informed.
Exports hit 1.272 million euros, imports stood at 983.4 million euros.
Exports hit 1.272 million euros, imports stood at 983.4 million euros.
“Bilateral commercial exchanges have been rising constantly in the past 11 years, hitting in 2007 a peak in the record of bilateral relations,” Romania’s Ambassador to London Ion Jinga told.
According to the data supplied by the Romanian Embassy in London, bilateral trade increased almost 8.7 times between 1989–2007, with exports rising six times and imports about 20 times.
According to the data supplied by the Romanian Embassy in London, bilateral trade increased almost 8.7 times between 1989–2007, with exports rising six times and imports about 20 times.
“After 2000, the trade balance was reactivated running on surplus; for instance in 2007 this was 288.7 million euros,” said Ambassador Jinga. The 4.54% rise in exports placed Great Britain sixth among the countries Romanian products are bound to, whilst by the 30% growth in imports, Great Britain ranks 15th among countries exporting to Romania.
Clothing and textiles account for 26.4% of Romania’s exports to Great Britain, footwear – for 19.6%, machines, electric devices and equipment – 17.5%, common metals and metal items – 13.3%, transportation vehicles and equipment – for 8.2%, furniture – for 5.9%, plastics – for 4.6%.
On the other, hand textile confections dominate imports with 21.8%; machines, electric devices and equipment represent 24.6% thereof; metal products – 16.4%; leather articles, 8.7%; plastics – 6.2%; vehicles and transport vehicles – 7.3%.
On the other, hand textile confections dominate imports with 21.8%; machines, electric devices and equipment represent 24.6% thereof; metal products – 16.4%; leather articles, 8.7%; plastics – 6.2%; vehicles and transport vehicles – 7.3%.
Regarding the amount of commercial exchanges in 2008, the representatives of the Embassy of Romania in London said that making forecasts before the economic turmoil settles would be dangerous. “Great Britain was hit the hardest by the US financial crisis and redundancy is looming over 100,000 jobs in the banking sector alone,” said the Romanian Ambassador in London.
This is the staff with the highest pays in economy, working mainly in the upper echelon of the investment banks and pocketing some 330,000 sterling pounds a year and who were in turn paying household staff (personal pilots, trainers, nannies, gardeners, dog walkers).
The crisis seems to expand in the UK to other activity sectors and unemployment soared past all estimations. Only in Q2, retail sales hit a 15-year low that directly resulted in the corresponding cut in imports.
Ion Jinga underscored that the Embassy of Romania in London is further taking steps for the active promotion of exports and attract British investments, so that the effects of global crisis on bilateral exchanges be as low as possible.
Ion Jinga underscored that the Embassy of Romania in London is further taking steps for the active promotion of exports and attract British investments, so that the effects of global crisis on bilateral exchanges be as low as possible.
Apart from the current economic activity, the Embassy of Romania in London organized last year 32 business seminars and forums to promote Romanian exports and attract British investments.
The Embassy will jointly organize with the British-Romanian Chamber of Commerce and other local and British organizations three economic missions and three business seminars.
The Embassy will jointly organize with the British-Romanian Chamber of Commerce and other local and British organizations three economic missions and three business seminars.
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