Foreign Trade of Multinationals in Romania.

The paper analyzes the exports and imports generated by multinational companies operating in Romania in relation to the country's total trade. It is also examined the orientation of FDI towards the main economic sectors. The analysis of Romania's foreign trade and trade balance values reveals that approx. 70% of Romanian exports and about 60% of imports are generated by subsidiaries of multinationals located in Romania. The conclusion is that imports and exports generated by these firms affect directly the trade balance, the main component of the current account of balance of payments. Throughout the analyzed period, the values of imports are superior to the values of exports, resulting in a negative balance of trade. By analyzing the distribution of FDI by main economic sectors it is found the reorientation of foreign investors during the crisis to economic sectors that are more exposed to speculation and financial risks, contributing to Romania's exposure to volatility in foreign markets. [ABSTRACT FROM AUTHOR]