Brexit|UK – Romania’s fifth exports destination in Q1 2016

The United Kingdom is Romania’s fifth exports destination in Q1 2016, with an overall volume of EUR 649.9 million, up by 16.3 percent year-on-year, data released by the Ministry of Economy shows.

Imports from the UK to Romania stood at EUR 3861.1 million, up by 5.72 percent. Romania’s trade deficit stood at over EUR 263 million, up by 18.5 percent compared to the first quarter of 2015.

According to data released by the Ministry of Economy, in the first three months of 2016, Germany was Romania’s main export destination, with 21.3 percent of total exports, followed by Italy (12.4 percent) and France (7.4 percent). Hungary ranked fourth (5.1 percent), while the United Kingdom came fifth (4.7 percent), followed by Turkey (3.4 percent), Bulgaria (3.1 percent), Spain (3.0 percent), Poland (2.9 percent) and Czech Republic (2.7 percent). The total share of exports to these countries was 66 percent.

On April 30, there were 5,251 companies with British capital in Romania, with a total value of over EUR 1.1 billion. According to data provided by the National Trade Register Office (ONRC), the UK ranks tenth by number of companies active in Romania.

Georgeta Gheorghe

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