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Romania Freight Transport Report Q2 2009
Market |
Logistics |
Report Type |
Market Research |
Country |
Romania |
Published |
21 May 2009 |
Number of Pages |
64 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
The Romanian Federation of Transporters (FORT) called on the country's prime minister to offer haulage firms a respite from road tolls, as the sector has been hit heavily by the economic downturn and there are fears that as many as 50% of freight transporters are near bankruptcy. The report believes that the lifting of tolls would benefit Romania's road freight sector in the short term, but a long-term strategy to upgrade the country's road network must be put in place. Mediafax, a Bucharest media group, reported that FORT had sent the Romanian prime minister a letter calling for freight transporters to be allowed a three-month (December 1, 2008-March 1, 2009) reprieve from paying road tolls. The letter stated that, due to the fact that production in Romania has decreased – and with it, imports and exports, 'some 45-50% of Romanian transport companies are currently on the brink of bankruptcy, because of unpaid leasing, commercial loans not covered and overdue taxes.' In our latest Romania Freight Transport Report, the report predicts that overall road freight traffic will grow by an average of 2.3% every year in the 2009-2013 period, lower than would otherwise be the case because of the 2009-2010 recession. Various factors support this prediction. Because of the global and European slowdown, the Romanian economy is itself set to grow at an average rate of 1.6% over the next five years. Thanks to European Union (EU) membership from the beginning of 2007, funds are still available from Brussels for infrastructure development exists. Closer integration with the wider European economy will be important, with trade growing strongly and physical links to the main European transport corridors opening up. Rail freight traffic should grow by 1.3% per annum on average. Inland waterway traffic will rise by an annual average of 1.9% as bottlenecks are removed from the Danube.
Maritime freight will grow by an annual average of 2.8%. Airfreight will see growth of an annual average of 2.9%, reflecting the impact of tougher market conditions in 2009. The total value of transport and communications GDP will rise to US$24.1bn in nominal terms by 2013, representing 11.3% of Romania’s GDP. The transport and communications sector employed 455,000 people, or 5.0% of the labour force in 2007. We see that figure falling marginally to 452,900 by 2013.
Romania has a composite score of 63.5 out of 100 for its freight transport business environment rating. This places it in the upper range among its European peers. The country scores well for long-term political risk, transport infrastructure growth and transport intensity (an indicator of the dynamism of foreign trade). However, it does less well in areas such as long-term economic risk and the regulatory and competitive environments.
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