Romania: Visió econòmica i política
Romania is open to foreign trade, which represents 87% of its GDP (World Bank, latest data available). The country mainly exports machinery and mechanical appliances, electrical equipment, sound and image recorders and reproducers (26.3%); vehicles and associated transport equipment (15.5%); base metals and articles of base metals (10.1%); and mineral products (7.6%). Imports are led by machinery (24.2%); mineral products (12.6%); chemical products (11%); and base metals (10.9% - data INSEE 2022).
The European Union is the main trading partner, accounting for 72.6% of total exports and 70.7% of imports in the first eleven months of 2022. The leading countries for exports were Germany (20%), Italy (10.1%), Hungary (7.3%), and France (6%). Imports follow a similar path, with Germany (17.8%) being the main destination for Romania’s exports, followed by Italy (8.2%), Bulgaria (6.8%), Hungary (6.5%), Poland and China (5.9% each – data INSEE).
Romania’s foreign trade figures for 2021 published by WTO show that merchandise exports amounted to USD 87.3 billion (+23.5% year-on-year), while imports increased at a faster pace (+26.1%), to USD 116.2 billion. On the other hand, the country is a net exporter of commercial services, with exports totalling USD 33 billion against USD 21.7 billion in imports (+22% and +33.3%, respectively). Overall, Romania has a structurally negative trade balance, which has been widening in recent years: for 2021, it stood at around 5.7% of the country’s GDP (from 4.3% one year earlier - World Bank). According to figures from the national statistical office INSEE, in the first eleven months of 2022 exports of goods totalled EUR 85.2 billion (+25% y-o-y) against EUR 116.2 billion in imports (+29.9 y-o-y).
Foreign Trade Values | 2018 | 2019 | 2020 | 2021 | 2022 |
Imports of Goods (million USD) | 97,747 | 96,544 | 92,132 | 116,203 | 132,491 |
Exports of Goods (million USD) | 79,660 | 76,871 | 70,718 | 87,388 | 96,707 |
Imports of Services (million USD) | 18,220 | 20,614 | 16,324 | 21,851 | 25,548 |
Exports of Services (million USD) | 28,091 | 30,302 | 27,092 | 32,998 | 38,918 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 86.5 | 84.5 | 78.1 | 87.0 | 92.0 |
Trade Balance (million USD) | -18,019 | -19,960 | -21,676 | -27,291 | -33,923 |
Trade Balance (Including Service) (million USD) | -8,157 | -10,282 | -10,875 | -16,177 | -20,618 |
Imports of Goods and Services (Annual % Change) | 8.6 | 8.6 | -5.2 | 14.9 | 9.2 |
Exports of Goods and Services (Annual % Change) | 5.3 | 5.4 | -9.5 | 12.6 | 8.6 |
Imports of Goods and Services (in % of GDP) | 44.9 | 44.3 | 41.2 | 46.3 | 49.4 |
Exports of Goods and Services (in % of GDP) | 41.5 | 40.2 | 36.9 | 40.6 | 42.5 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) | 2027 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 2.3 | 8.0 | 6.5 | 6.1 | 5.6 |
Volume of imports of goods and services (Annual % change) | 3.0 | 7.7 | 6.0 | 5.9 | 5.1 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of the ASEM (Asia-Europe Meeting).
Main Customers (% of Exports) |
2022 |
Germany | 19.8% |
Italy | 10.1% |
Hungary | 7.3% |
France | 6.0% |
Bulgaria | 3.9% |
See More Countries | 52.9% |
Main Suppliers (% of Imports) |
2022 |
Germany | 17.8% |
Italy | 8.2% |
Bulgaria | 7.1% |
Hungary | 6.5% |
Poland | 5.9% |
See More Countries | 54.5% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: November 2023