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Romania

ROMANIA 1

Institution Affiliation

is a European country bordering Bulgaria, Ukraine, Hungary,Serbia, Moldova, and Turkey. It is the 46th largest exporteconomy in the word. The Despite its positioning in the worldeconomies, the country has always had problems when it comes tomaintaining a surplus in the balance of payment. In 2009, the exportsamounted to $49.41 billion with a total imports $76.17 billion.According to the Economic Complexity Index (ECI), has the38th most complex economy (OEC, 2016).

The top export destinations of s ($4.73 billion), InsulatedWire ($3.94 billion), Cars ($3.78 billion), Refined Petroleum ($3.36billion), and Wheat ($1.96 billion). The values are based on the 1992Harmonized System classification. On the other hand, the country’sleading imports include Crude Petroleum at $4.41 billion and VehicleParts at $3.02 billion (OEC, 2016). Others include PackagedMedicaments, Insulated Wire and Cars with values of $2,68 billion,$1.57 billion, and $1.52 billion respectively.

The main export destinations of include Germany, Italy,France, Turkey, and Hungary. The exports to Germany are worth $13.1billion whereas those to Italy are $7.93 billion. $4,32 billion issent to France, $3.47 billion to Turkey and $2.96 billion to Hungary.The country’s top import origins include Germany, Italy, Hungary,France and Poland at $14.1 billion, $7.98 billion, $5.75 billion,$4.3 billion and $ 3.41 billion respectively (OEC, 2016).

Given countries such as , Ireland, Republic of Cyprus, FederalRepublic of Germany, and United Kingdom to make a synergy and improvethe wellbeing of their members, the two primary nations that would bemost effective are the Federal Republic of Germany and . Thereason for the two is attributed to them being the strongest tradingpartners in the group

References

OEC (2016). (ROU) Exports, Imports and Trade Partners