The exports increase remained robust in February, but the fasterrise is partly accounted for by the increase in the price of rawmaterials, not just by the rise in the volumes exported, accordingto analysts.
In February exports totalled 3.5 billion euros, 36.4% higherthan in February of last year, after the rise amounted to 47.8% inJanuary. Imports neared 3.9 billion euros, up 20.9% againstFebruary 2010.
"The rapid increase of exports lately also has to do with theincrease in the price of raw materials. Therefore, the share ofmineral fuels in the structure of exports has increased by 1.4% inthe last two months, while cars and transportation equipment, aswell as other manufactured products, are on a downward trend,"commented Melania Hăncilă, chief economist of Volksbank.
The price of Brent crude oil hit the highest level in two yearsand eight months on Friday, exceeding 124 dollars/barrel, afterattacks on Libyan oil fields caused fears that deliveries fromLibya could be suspended for a long time.
The prices of raw materials pursued an overall positive trendamid expectations that the recovery of the global economy wouldfuel demand.
The highest share of Romania's exports, 42.2%, is accounted forby cars and transportation equipment in the first two months of theyear. Second-ranking are other manufactured products, with 33.1%.Raw materials, mineral fuels and chemical products had similarshares of around 6-7%.
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