The GDP growth announced by the National Statistics Institute on Friday took most analysts by surprise as they had anticipated economic growth of 3% at best. The higher-than-expected growth was boosted by exports, which rose EUR4.5 billion compared to 2012, and agriculture, which single-handedly contributed almost half of the growth of 3.5%.
Ford B-Max and the more than 250,000 engines made at the US carmaker’s plant in Craiova, southern Romania, pushed exports up by EUR1.5 billion last year. Ford became one of the top three exporters of the country last year, climbing from the 11th place the year before and helped set a Romanian export record along with Dacia and Rompetrol Rafinare.
Romania’s top five exporters (Dacia, Rompetrol Rafinare, Ford, OMV Petrom and Honeywell) contributed 15.2% to the country’s total exports in 2013, according to the data provided by the statistics institute at the request of ZF.
In 2012, the largest five exporters contributed 12.8%, according to the same source. ZF’s calculations show the five largest exporters shipped EUR7.5 billion worth of products abroad in 2013, compared with EUR5.7 billion in 2012.
Multinational grain traders Alfred Toepfer, Ameropa Grains, Cargill, Nidera and Glencore were the top five companies that boosted exports of grain and oilseeds by 50% to EUR2.7 billion in the calendar 2013, according to statistics institute and Eurostat data.
The export data for the calendar 2012 and 2013 include grain and oilseeds from the 2011/2012 and 2012/2013 season harvests and the exports in this season from July through December.
Alfred Toepfer International held by US-based Archer Daniels Midland ended last year as the leading grain exporter in Romania and sixth among overall exporters.
The trader moved up from 27th in 2012, having exported at least EUR600 millions’ worth, according to ZF’s calculations.
Alfred Toepfer’s Romanian operations are export-focused considering the trader created a silo network by the Danube River and an export terminal in the Black Sea harbor of Constanta.
(English version by Loredana Fratila-Cristescu)