The volume of trade between Germany and Romania dropped 10 percent in 2020 to 29.36 billion euros, shows data released by the Federal Statistical Office (Destatis) and cited by the Romanian - German Chamber of Commerce and Industry (AHK Romania) in a release, according to AGERPRES.
Total exports to Romania last year amounted to 15.8 billion euros (-5.9 pct), and imports stood at 13.5 billion euros, 14.4 percent less than in 2019.
With a bilateral trade volume of 29.36 billion euros in 2020, Romania ranks 19th among Germany's trading partners.
We are confident that the rebound of trade exchanges in the second half of 2020 will continue in 2021 too, but it all depends on the evolution of the pandemic. We are looking at border closure measures, such as that with the Czech Republic, with concern for the movement of goods and for supply chains. Overall, German companies in Romania are looking with great confidence at Romania's economic development, especially considering the European funds made available - while pinning high expectations on the government, specifically on the implementation of the reforms announced for the next four years. We have many opportunities in this country and there is great potential. Now we must make every effort to make them come to fruition, said AHK Romania general manager Sebastian Metz.
AHK Romania is the official representation of the German economy and the largest bilateral Chamber of Commerce in Romania. Founded in 2002, AHK joins about 600 member firms, providing companies an important platform for networking, information and experience exchanges.