Romanian Agriculture accounted for 4.3% of GDP growth in 2018

The Romanian agricultural sector contributed 4.3% of the country's economic growth in 2018, compared with 4.4% in 2017, according to a study by Euler Hermes.

The study notes higher wheat, barley and two-rowed barley crops, plus the record corn production of 15 million tons in 2018 are positive signs for agricultural companies in the first half of 2019.

The wholesale of agricultural products and livestock in January-February 2019 grew over 20% in real terms, compared with 6-7% growth for the entire wholesale sector except vehicles and motorcycles.

The number of insolvencies in the agricultural sector have been decreasing in 2018 and the first months of 2019 but fluctuate in the usual range of 4-5% of total insolvencies.

The study anticipates insolvencies will grow among farmers this year due to low prices for crops worldwide, the food processing sector will be under pressure to abide by stricter regulations, while the drinks sector is bound for future growth.