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Romania, the only EU country with growth in exports to GermanyUpdated: 18-01-2010 | Regional Europe
Romania is the only country in the European Union (EU) having reported growth in exports to Germany January through October 2009, Vladimir Ciobanasu, Minister Counselor at the Embassy of Romania in Germany told the Agerpres News Agency.
'While all the major EU exporters were falling, the Romanian exports to Germany climbed 7.4 percent, up to 4.32 billion euros, in the first 10 months last year, compared with the similar interval in 2008,' said Ciobanasu, relying on data from the Federal Statistics Office in Wiesbaden.
The largest share in Romanian exports was generated by cars and electrical appliances - 33.7 percent, followed by transport vehicles - 31.5 percent, garment - 12 percent, metals coming 4th.
The Romanian furniture industry also saw a 4.8 percent growth, in 2009, in exports to Germany, helping the overall rise in Romanian exports to this country. Chemicals, plastics, rubber and footwear also helped.
As regards imports, cars and electrical appliances maintained at the front, followed by transport vehicles and chemicals.
The bilateral trade balance deficit has improved significantly for Romania, from 3.1 billion euros January through September 2008, down to only 800 million in the corresponding interval in 2009.
On September 30, 2009, the total number of Romanian companies running on German capital amounted to 17,038 (second place after Italy), accounting for 10.33 percent of the total number of foreign companies on the domestic market, with a total share capital reaching 2.59 billion euros (third place after the Netherlands and Austria), representing 10.68 percent of the total foreign capital invested in Romania.
Agerpres
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