The Romanian economy, for the most part, is in trouble due to the pandemic. Predictably, there are exceptions to the rule, starting with the producers of spirits and tobacco.
In the most recent report of National Institute of Statistics Regarding international trade, several branches of the economy are mentioned and how they have progressed in the last 9 months. Thus, not only can you understand a little better what has moved in Romania, but you can also realize the ratio of the local market in contrast to the global market. The analysis shows you the goods that were exported from our country to the West, but also at what level were the imports or domestic consumption in 2020 compared to 2019.
The saddest conclusion from the whole analysis is that the balance deficit increased by about one billion euros compared to a year ago, to a total of 13 billion. This is a seemingly normal trend in times of crisis and was evident between 2008 and 2010.
In the first half of the year, consumption had fallen for a while, but now we are approaching the level of a year ago. Initially, the decline in purchases betrayed a more cautious population that seemed to be reflected in a reduction in the trade deficit. However, people are tired of being careful, thus betraying a slightly atypical crisis.
If we refer to the types of goods that have generated money in the last nine months, the interest of Romanians is very obvious. The most spectacular evolution was registered by the group of beverages and cigarettes, which registered a record increase of exports by 42%, compared to the previous year.
It is really a performance, and the explanation is, on the one hand, related to the fact that Romania has factories in both fields, the production of cigarettes and beverages, and, on the other hand, it is the proof that Romanian producers have managed to find foreign markets in this complicated period.
After the performance of the growth of exports by 42%, the product group consisting of beverages and tobacco ranks first in terms of trade surplus, with a value of 637 million euros, surpassing the product group machinery and transport equipment, which records a surplus of only 102 million euros.