The Brexit From The European Union - Implications On The External Trade Of Romania

After briefly presenting the legal framework for the exit of the United Kingdom of Great Britain and Northern Ireland from the European Union, in the article there are analysed in the trade relations between Romania and the United Kingdom. Thus, it stands out an increase in the exports and imports between these countries, as well as the fact that starting with 2013, the United Kingdom ranks first among the countries with surplus of the goods balance in favour of our country. There is a diversification and an improvement in the structure of exports toward the United Kingdom, namely the share of medium and highly processed goods increases. Romania's imports from the United Kingdom are dominated by medium and highly processed goods. Towards the end of the period under review, we can see a concentration of commodity groups imported from the United Kingdom. The author uses qualitative and quantitative assessments, interpretations, comparative analysis and correlations. The analysis is carried out for the period 1991-2017 and it concludes that it is in our country’s best interest to close a trade agreement between Romania and the United Kingdom if the Brexit takes place.