Exporting companies are important for the real economy and the banking sector, but the health of these companies that are exposed to foreign economies must be looked after in case of economic deteriora-tion.

Economic activity by Romanian companies carrying out foreign commercial transactions with goods has grown in the last year, despite an international macroeconomic framework marked by commercial ten-sions. The sectors that contributed the most to the favourable evolution of foreign trade were manufac-turing (82 percent of exports and 54 percent of imports) and trade (10.6 percent of exports and 38.5 percent of imports), according to the National Bank of Romania (BNR)’s latest Financial Stability Report.

The main players of the manufacturing industry that are involved in foreign trade, such as the automotive sector, are dependent upon the development of transport infrastructure and the provision of specialised workforce, which highlights the importance of creating a proper environment for business development.

The software industry is another important sector in foreign trade, and this area’s focus on the human factor and lower dependence on infrastructure may indicate a significant potential. Based on the incorpo-rated technological level, between September 2018 and June 2019, medium-high-tech products ac-counted for 49 percent of exports while high-tech products represented 6.6 percent, based on BNR fig-ures.