Advancing at its Own Speed a Trade Approach on Romanias Convergence to the EU

This paper analyzes the evolution of the Romanian trade with EU, based on a variety
of indicators: Finger similarity index, Hirschmann concentration index, trade development index,
revealed comparative advantage, intra-industry trade. The paper finds that the learning effect
occurred in trade with EU, that the trade structure has been witnessing certain transformations,
and that specialization appears to increase in technology-intensive products, in the fields
dominated by the foreign capital; however, export concentration is rather high, while natural
resource-intensive and low skilled labor-intensive products face severe competitive pressures. The
results suggest that Romania’s foreign trade-driven convergence to EU is not spectacular, but it is
happening at its own speed.