Dacia And Ford Drive Romania's Exports Up 10% in February

04.10.2013 By Claudia Medrega

Exports rose 10% in February 2013 against the same month of the previous year, driven mainly by the auto sector, more specifically the contribution of Ford, which was nonexistent in the first part of 2012, and the impact of the new range of Dacia models.

“The positive effects of Dacia’s new range of cars launched at the end of 2012 and Ford’s gradual ramping-up production at its Romanian plant (mainly engine production) might be already accountable for the better performance in exports,” an analysis of UniCredit Tiriac Bank showed.

"We believe exports could receive further boost once the production facilities at DeLonghi and Bosch become operational (expected in Q2-2013 for the former and Q3-2013 for the latter)”.

Car production climbed by over 27% in the first two months of this year, according to data from the Romanian Car Manufacturers and Importers Association, with this growth being driven mainly by the production of the Ford plant in Craiova.

In Dacia’s case, car production rose slightly, by three percent. Overall car exports climbed 18%, despite a 9% fall in Dacia exports.

Romania has not seen an export monthly rise by 10% or more since 2011. Total exports fell by 0.5% last year amid a contraction of the eurozone economy, Romania’s main trading partner, but in January 2013 exports returned to growth.

Considering the performance of the main macroeconomic indicators, most analysts believe Romania’s economy will stay in positive territory in the first quarter of this year and for now keep their estimates of GDP growth in 2013, relying mainly on a rebound of consumption, with most forecasts ranging between 0.5% and 1.6%.

In the first two months of the year exports continued to become more geographically diverse, with deliveries to non-EU countries seeing a significant rise.

Exports to non-EU countries rose by almost 24% in February against the similar month of last year, while exports to EU countries went up by just 5%. In February, exports reached almost EUR3.9 billion, while imports totaled EUR4.08 billion, up by just 1.3% year-on-year. In the first two months of the year, exports went up 8.1% against the same period of 2012.

(English version by Daniela Stoican)