I know that a simple post with figures about bilateral trade between countries can be a bit dry. However, it could be helpful for those British exporters considering Romania as a potential market for their goods and services.
Overview of Bilateral Trade in 2015
Both Romania`s exports to the UK and the volume of bilateral trade, registered a record volume in 2015. The overall value of bilateral trade between the two countries was € 3.95 billion, 13.21% higher than in 2014.
2015 registered the highest level of Romanian exports to the British market, € 227 million higher than in 2014. Romanian exports grew by 10.55% compared to 2014, up to € 2.38 billion. 4.36% of Romania`s total exports go to the UK which makes the UK 5th in the top 10 EU as well as non-EU export markets for the Romanian goods and services.
The UK ranks first in the top 10 countries with a favourable trade to Romania (+ € 815 millions).
Romanian Exports to the UK
The structure of the Romanian export to the British market looks as follows:
28.75% of total exports are represented by machinery and mechanical devices,
electric appliances and equipment; 22.27% are represented by textiles (17.23% are ready-made clothes and footwear); 17.74% are represented by transport means (16.84% are motor vehicles, other vehicles and accessories); 7.04% are represented by other products out of which 6.81% are furniture; 5.61% are represented by agro-foods; 5.34% are represented by plastic and rubber products ( 3.93% are rubber and rubber products); 4.26% are represented by chemical products (3.66% are pharmaceutical products); 4.14% are represented by common metals.
The UK Exports to Romania
The value of the UK exports to Romania in 2015 was € 1.57 billion, 17.50% higher than in 2014. UK exports represent 2.49% of Romania`s total imports. As such, the UK ranks 14th in Romania`s overall import partners and 11th among the EU states.
The structure of the British exports to Romania looks as follows: machinery and mechanical, devices, electric appliances and equipment (26.69%), textiles, ready-made clothes, footwear (24.02%), chemical products (17.63%), transport means, vehicles, aircrafts and auxiliary transport equipment (7.29%), plastic, rubber and rubber products (5.52%), common metals and products (4.65%).
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