Characteristics of the Romanian CIF Imports during the Period 01.01.2016 - 31.10.2016

: The aim of this paper is to analyze the Romanian CIF imports during the period 01.01.2016 - 31.10.2016. My research goal is to identify the most important section of CIF imports during the analyzed period and the main structural modifications in evolution of the Romanian imports. The expected results are to know the most important import section of the Combined Nomenclature, the structural modification in evolution of these industries and the most important partner countries.


Introduction
For a better understanding of the Romanian economy, it is important to analyze the Romanian commercial relations. The characteristics of the Romanian CIF imports will give us important results regarding the main industries and the most important partner countries.
Under the Incoterms 2010 standard published by the International Chamber of Commerce, CIF means "the seller pays for the carriage of the goods up to the named port of destination. Risk transfers to buyer when the goods have been loaded on board the ship in the country of Export." [13].
The CIF price (i.e. cost, insurance and freight price) is "the price of a good delivered at the frontier of the importing country, including any insurance and freight charges incurred to that point, or the price of a service delivered to a resident, before the payment of any import duties or other taxes on imports or trade and transport margins within the country" [14].
In the structure of exports, six sections of the Combined Nomenclature hold 71.8% of total imports, as follows (table 1) -VI -increasing with 7.1 percentage points; -VII -increasing with 6.8 percentage points; -XVI -increasing with 6.0 percentage points; -V -decreasing with 13.6 percentage points; -XV -decreasing with 1.0 percentage points [10].  10.2016, holding the first place and registered an increase of 6.0% as against the same period in 2015.
In this section, the chapters are: -Chapter "Machinery and mechanical appliances; electrical equipment; sound and image recorders and reproducers" holds 8627.7 million euro imports CIF, representing 55.5% in total section, 15.5% in total imports CIF and registered an increase of 10.0% in comparison with the period 01.01. -31.10.2015; -Chapter "Boilers, turbines engines, mechanical apparatus and devices, parts thereof" holds 6930.5 million euro imports CIF, representing 44.5% in total section, 12.4% of total exports FOB in the period 01.01. -31. 10.2016 and registered an increase of 1.4% in comparison with the period 01.01. -31. 10.2015 [10].
The second place is held by the imports of section XV with an amount 5682.5 million euro and representing 10.2% in total imports CIF and registered a decrease of 1.0% in comparison with the period 01.01 -31. 10.2015. In this section, the chapter are: -Chapter "Products of pig-iron, iron and steel" holds 1704.1 million euro of the imports CIF and registered an increase of 1.7% in comparison with the period 01.  [10].
Imports of section XVII hold the third place as weight in total imports CIF with 5680.1 million euro, registering an increase of 17.4% as against the period 01.01. -31. 10.2015. In this section, the chapter are: -Chapter "Vehicles, tractors and other ground vehicles" holds 5346.8 million euro of the imports CIF and represent 94.1% of total section and 9.6% of total imports CIF in the period 01. Imports of section VII, hold the fifth place as weight in total imports CIF with 4162.0 million euro and registered an increase with 6.8% as against the period 01.01. -31. 10.2015. In this section, the chapter are: -Chapter "Plastics and articles thereof" holds 3124.9 million euro of the imports CIF and registered an important increase of 7.3% in comparison with the period 01.01.-31.10.2015; -Chapter "Rubber and articles thereof" holds 1037.1 million euro imports CIF and registered an increase of 5.1% in comparison with the period 01.01. -31.10.2015 [10].
Imports of section V Mineral products -hold the sixth place as weight in total imports CIF with 3273.5 million euro, registering a decrease of 13.6% as against the period 01.01. -31. 10.2015. In this section, the chapter are: -Chapter "Mineral fuels and oils; bituminous substances; mineral waxes" holds 2994.  In the period 01.01.-31. 10.2016, as against the same period in 2015, imports from the other 27 European Union (EU28) countries increased with 6.4%, registering a weight of 77.3% in total imports of Romania [10].
The European Union countries are the most important import partners of Romania and is very import to focus on this commercial relations but also on the Romanian production in order to reduce the imports and to improve the trade balance of Romania.
Partner countries holding the first 10 places in total amount of imports in the period 01.01. -31. 10 [10]. By implementing renewable energy projects, the cost of energy imports can be substantially reduced and this would have a beneficial effect on the trade balance of Romania [12].
Also, by implementing the most advanced technologies, we can save energy and increase productivity. For this reason, it is very important to import advanced technologies from countries with best performance in the technologic sector and not import outdated technologies.
We recommend the reviving of the agriculture and animal husbandry in Romania, so that the domestic production should meet, to a great extent, the need of the Romanian market and the surplus should be exported under favorable conditions [12].
In order to stabilize the trade balance of Romania, we recommend the decrease in imports as a result of the quantitative and qualitative improvement of the domestic production and a more efficient awareness of the consumers in Romania regarding the importance of supporting the Romanian industry and the Romanian entrepreneurs by purchasing Romanian products [11].
Romania`s economy has the potential to grow from year to year and to produce most of the products needed by its own population. To realize this important objectives, it is impetuous necessary to improve the efficiency of the production activity and the quality of the Romanian products and services. Thus we have the possibility to reduce the imports, to reach a balanced and even positive trade balance.