The evolution of imports and exports for the year 2022 exemplified in the graph above shows us that in Harghita county, more is imported than exported. Thus, the trade balance shows us a trade deficit of -240,506 thousand euros in 2022 and -71,720 thousand euros for the first three months of this year. We observe that exports and imports are on an increasing trend, the difference being maintained in favor of imports.
However, there is also a less favorable aspect, revealed by the increase in domestic consumption's dependence on the import of goods and services, which was also reflected in the sharper increase in imports compared to GDP.
In 2021, the value of exports was 245,872 thousand euros and imports amounted to 446,962 thousand euros. In 2022, our county exported products worth 307,818 thousand euros, an increase compared to previous years. In the first 3 months of the current year, according to the National Institute of Statistics, goods worth 82,326 thousand euros left the county. If we look at the national level, we can see that our county ranks 30th out of the 41 counties plus the City of Bucharest in terms of exports. In the first place in terms of exports in 2022 is Bucharest, followed by Timiș, Argeș and Brașov, this fact is due to strong foreign companies in each county that produce for export. If we refer to the import situation, we can see that our county ranks 26th nationally, with a total import value of 634,932 thousand euros, related to the year 2022. Gorj is in last place both in terms of imports and exports.
What goods do we export?
In April of this year, according to the graph below, we can see that the most textiles and textile articles were exported from Harghita county, these exports were worth 5,461 thousand euros. In the same month, the second place in terms of exports was occupied by Goods and miscellaneous products, which totaled 4,947 thousand euros. Although our county is occupied by approximately 34% forests, we can see that wooden products, exclusive of furniture, occupy the 3rd place in August of the current year and the 3rd place in 2022 with 54,420 thousand euros. The first place in 2022 was occupied by the export of goods and various products with 65,225 thousand euros.
What good do we import?
On the other hand, let's see what goods are imported into the county: Analyzing the structure of imports, we will notice that the main goods imported in April as well as in 2022 are common metals and articles thereof in the amount of 147,141 thousand euros, machines, devices and electrical equipment in total of 87,505 thousand euros, plastic materials, rubber and articles thereof in the amount of 86,545 thousand euros.
Exporting and importing activities influence the economy of a country. Inflation, exchange rates, and interest rates are affected by the balance between a country's imports and exports. While high levels of imports indicate healthy domestic demand and a growing economy, high levels of exports stimulate employment and the flow of funds into the country, which lead to increased consumer spending. Maintaining a good balance between imports and exports helps ensure a solid and stable economy.
The short-term and long-term trend seems to be one of deepening the trade deficit with goods, which can cause a series of negative implications for Romanian consumers, such as increasing pressure on the exchange rate and increasing the prices of imported goods. What we can conclude is that it is very important to attract foreign investors to the county. which, to develop strong companies that, through the production of goods, also contribute to export. It is important to produce more in order to export and have a commercial surplus in the county.