AHK: Romania moves up one place in ranking of Germany's leading trading partners

Romania has moved one place in the ranking of Germany's leading trading partners in the first half of this year, currently ranking 16th, and trade between the two countries has exceeded by 3.9% the volume recorded in the same period last year, according to data released by the German-Romanian Chamber of Commerce and Industry (AHK Romania), citing the Federal Statistical Office (Destatis).Imports and exports between Romania and Germany amounted to 21.7 billion EUR between January and June this year, up by 3.9% compared to the same period last year, when they amounted to 20.5 billion EUR.Thus, exports to Romania amounted to 11.8 billion EUR, which means an increase of 6% compared to the similar period in 2023, while Germany's imports from Romania exceeded 9.93 billion EUR, an advance of 1.4% compared to the first six months of last year.According to the cited source, these results place Romania 16th among Germany's trading partners in terms of exports and on 19th in terms of imports. According to trade data from the first half of this year, Romania has moved up to the 16th position, overall, among Germany's top trading partners. At the end of 2023, our country ranked 17th, and 21st in 2022."We are obviously pleased that bilateral trade relations have intensified, despite the difficult economic situation in Europe and especially in Germany. However, the decrease in Romanian exports to Germany reflects the weaker economic evolution in Germany, in particular the very tense situation in the automotive sector, but not only. In both Germany and Romania we need to focus on increasing the competitiveness of investment locations. Additional burdens such as tax measures like tax increases or additional bureaucratic duties do not help companies at all. Investments in infrastructure (transportation, the energy network) and in the education system, cutting red tape, increasing state investments in key sectors are needed more than ever," said Sebastian Metz, director general of the German-Romanian Chamber of Commerce and Industry, in a press release sent on Tuesday.As of January 1, 2020, the Competence Center for the Republic of Moldova is also operating within AHK Romania.