Field: Economic development and infrastructure

Subfield: Trade

Details:

This indicator shows GDP dependence on consumption. In Romania this dependence has been decreasing slightly, but is still high, above the European average, with no significant improvement over the last decades. GDP dependence on consumption in Romania has dropped from 72% in 1996 to 62.2% in 2013, above the European average (58% in 2013) or other countries in the region (Poland – 61%, The Czech Republic – 51.6%, or Hungary – 54.4%, in 2013). GDP high dependence on consumption becomes a problem when the internal production cannot or is not stimulated enough to meet this growing consumption. For this reason, any economic growth in Romania over the last decades has failed to counterbalance imports (many goods can be produced in the country), which makes Romanians consumers of others’ industry, transferring prosperity to countries around us. The food industry can serve as a good example in this respect.