Does the Romanian economy have to produce only a trade deficit?

By Constantin Radut
The industrial destructuring of Romania is increasingly evident, especially since its integration into the European Union. In the 15 years since we have been members of the EU, the country’s economy has lost any comparative advantage in relation to the member states and the rest of the world.
Romanian capitalism turns out to be one of the periphery. The Germans took over the manufacturing sector, as did the French who, in addition, became the masters of the food industry, the Austrians became a force in the oil and gas industry as a result of taking over Romanian resources, the Dutch took our ports and shipyards on the Danube and the Black Sea, etc.
The entire fabric of the productive sectors is in the hands of foreign capital. As a result, Romania and Romanian state or private capital no longer hold the power in the steel industry (almost abolished), in the agricultural machinery and tractor industry, a sector in which we were large exporters and in which we are now importers in proportion to 90%. The industry of heavy machinery and high-precision machine tools is irreparably destroyed. Romania does not own any milk, sugar, edible oil, etc. factories.
Brussels dictates what to do to become a sustainable economic colony.
In other words, the Romanian economy becomes from one year to the next an economy that produces more and more trade deficit.
According to the National Institute of Statistics (INS), in the first eight months of 2022, the country’s trade deficit reached over 22 billion euros. This means more than three times the average monthly export recorded in the last 5 years. The tendency is to increase the deficit and not to stagnate or decrease it.
This is a strong argument that the country’s economy is not directed by native capital, but by foreign capital.
▪ In August 2022, FOB exports totaled 7618.8 million euros, and CIF imports totaled 10841.7 million euros, resulting in a deficit of 3222.9 million euros.
▪ Compared to August 2021, exports in August 2022 increased by 34.3%, and imports increased by 46.5%.
▪ In period 1.I-31.VIII 2022, FOB exports totaled 60291.7 million euros, and CIF imports totaled 82292.5 million euros.
▪ In period 1.I-31.VIII 2022, exports increased by 25.1%, and imports increased by 31.0%, compared to period 1.I-31.VIII 2021.
From the 10 large groups of goods and services highlighted by the INS, in the eight months of 2022 there was a trade surplus in only 3 groups of goods: drinks and tobacco, raw materials (mainly seeds and oleaginous fruits; metal ores and metal waste; wood and cork; other raw materials of animal or vegetable origin), oils and fats of animal and vegetable origin.
The biggest deficits were recorded for food (over 10 billion euros), chemical products (almost 9 million euros), manufactured products (almost 5 million euros), fuels and lubricants (over 5 million euros).
The main beneficiaries of our trade deficit are the EU member states.
The value of intra-EU27 exchanges of goods in the period 1.I-31.VIII 2022 was 43,533.2 million euros for shipments and 57,761.0 million euros for imports, representing 72.2% of total exports and 70.2% from total imports.
The value of extra-EU27 exchanges of goods in the period 1.I-31.VIII 2022 was 16758.5 ​​million euros for exports and 24531.5 million euros for imports, representing 27.8% of total exports and 29.8% from total imports. At this rate and with an increasingly important dependence on the developed EU states, Romania’s economy has no other perspective than economic and social collapse.