Export growth, a positive sign
November 14, 2008 - Romania
National Statistics Institute revealed that the exports of Romania during the January-September 2008 period surged 18.3 percent as compared to same period last year to reach 25.58 billion euro. However, imports also rose by 15.9 percent to 42.51 billion euro.
Thus, the trade deficit of the country rose significantly marking 12.5 percent climb to record 16.93 billion euro.
Though efforts should be made to lessen the trade-deficit, it is a difficult situation with global economic recessions and trade crunch. Experts say that 18.3 percent climb in exports is in itself a great achievement.
This is true, especially as the industries are encountering serious financial problems. Exporters are among the worst hit.
At present, country is preparing to face unemployment on a large scale. Over 300,000 people are expected to lose their jobs. The textile industry segment alone is expected to be responsible for laying off 63,000 workers.