The key to boosting exports is increasing the number of exporters. But, according to Deputy Prime Minister and Minister of Economy, Costin Borc, currently, only 15 percent of domestic firms are exporters. This means 50 companies with Romanian capital with a turnover exceeding EUR 100 million.
“Romania is not a weak exporter, Romania is a country with few exporters. If we want to grow exports, we must grow those businesses that can make export, those enterprises that can compete in the single market. We rank the 53rd worldwide in terms of exports and the 17th in the European Union. The exports account for 30 percent of GDP,” Borc said on Friday in a press conference.
85 percent of the exporting companies are subsidiaries of foreign groups. He added that 22,000 of the 750,000 firms registered in the Trade Register are companies that do export.
Romanian exports in 2015 increased by 2.9 percent due to European funds, subsequent to the implementation of programmes in 2008-2015, according to data released by the National Commission for Economic Forecasting (CNP).
FOB/CIF trade deficit in 2015 was of EUR 8.37 billion, up by EUR 2.31 billion against 2014, according the INS data.