Romania can recover some of the deficit of its trade with the European Union following the accession of the ten new members, the first half foreign trade data show.
Exports to the ten new members increased three times faster than those to the countries that were already members of the EU prior to the latest wave of enlargement. The gap is due to both the economic growth pace that is much higher in the new members, as well as to the change in the customs regime.
Statistics therefore verify the field data: after May 1, the extent of the small traffic in cheaper sugar or flour from Romania by the Hungarian border forced the Hungarian authorities to contain introduction of such products in the country.
Romania's trade with the Czech Republic, Hungary or Poland used to be conducted within CEFTA until May 1, 2004, falling under the Free Trade Agreement with the EU from that moment on.
The trend of the data shows that the only two months of new customs regime regulating the relation between Romania and the former CEFTA countries really mattered.
Exports to the ten new members, the biggest of which are Czech Republic, Poland and Hungary, rose 49% to 665 million euros in the first half.
Exports to the EU increased by a mere 19% to 5.9bn euros.
"I think the most accurate explanation would be the growth pace of the consumption and economy, which is much higher in the new European Union member countries. The new customs regime may have had an influence, too, as it is more favourable for Romania than it was back in the CEFTA days, for the agricultural products, at least," said Andreea Vass, a researcher with the National Economy Institute.
The customs treatment of industrial products is the same under the Free Trade Agreement with the EU as it was under the CEFTA.
Poland, the Czech Republic and Hungary have indeed witnessed 4%-6% growth in their respective GDPs in the first half, compared with 0.5%-1% in the "older" European Union members.
The highest growth rate of all was recorded for the exports to the Czech Republic, from plus 54% four months through the year to 160% for the first six months. At the same time, exports to Slovenia rose 18% for the first half, compared with 7% in the first four months. The positive change in the growth pace in both cases points to new export opportunities seized by the Romanian exporters after May 1, 2004. The pace of the increase in exports to Poland or Hungary, which absorb a higher amount of Romanian producers, remained the same, that is 85%-86% and 36%-37% respectively.
sorin.pislaru@zf.ro
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