3.5 C
December 7, 2021
Image default
Economy International News Romanian News

Romanian Exports to the US Expected to Reach an All-Time Record

The Romanian exports to the United States are expected to reach an all-time record this year. The mid-year commercial balance data show an unprecedented growth which leads to this estimation.

Romanian Embassy in Washington published the conclusion on its social media accounts.

In numbers, the expectations are for the Romanian exports to the US to reach USD 2.8 Billion. This estimation is based on the mid-year results of this indicator: Romania exported goods and services worth USD 1.3 Billion in the first 6 months, an increase of 37.3% as compared to the same period last year. Indeed, the pandemic impacted the exports in 2020, but the overall level of Romanian exports to the US is unprecedented.

The Romanian exports to the US are less than 2% of the total exports from Romania. From this perspective, the United States is not the main partner of the country. According to the US Embassy to Romania, principal Romanian exports to the United States are fertilizers, insecticides and pesticides, industrial machinery and equipment, metals and metal products, textiles and footwear, and civilian aircraft engines.

Yet, the commercial balance with the United States is a positive one for Romania: the country exports to the States almost USD 1 B more than it imports.

Related posts

Xavier Pascual Named Romania’s Men National Handball Team’s Coach


World Cup Qatar 2022 Qualifiers: Romania Draws at Home with Iceland 0-0


World Bank Improves Forecast for Romanian Economy: 4.3% Growth in 2021


Leave a Comment