KeysFin: Coronavirus Spread Affects Local Importers of Phones, Electronics

China is Romania's seventh largest commercial partner and the coronavirus epidemic mainly affects local businesses importing mainly phones and electronics directly from China, according to an analysis by KeysFin.

However, the impact of the epidemic on the local economy will be in direct ratio to the period required to contain the virus.

“In Romania, the immediate impact is not major,” said Roxana Popescu, managing director at KeysFin.

Romania's exports and imports to and from China grew 13.7% on the year in 2018, to over EUR5.1 billion, according to statistics board data. However, Romania's imports from China account for just 5.3% of all imports.

Romania mainly imports machinery, electrical and mechanical devices from China, followed by common metals and textiles.

On the other hand, China is Romania's 20th market for exports, totaling EUR746 million in 2018.

Romania has over 2,200 Chinese-owned businesses whose total turnover amounted to over RON1.3 billion in 2018, but China is not among Romania's major foreign direct investors. Chinese investments in Romania stood below EUR100 million in 2018, according to central bank data.

The Romanian economy could, however, be impacted indirectly, as China is the world's second largest economy.

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