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 | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 85,486 | 97,747 | 96,544 | 92,124 | 116,228 |
Exports of Goods (million USD) | 70,761 | 79,660 | 76,867 | 70,721 | 87,384 |
Imports of Services (million USD) | 14,023 | 18,206 | 20,522 | 16,275 | 21,699 |
Exports of Services (million USD) | 23,314 | 28,088 | 30,273 | 27,064 | 33,015 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 87.2 | 86.5 | 84.5 | 78.1 | 87.4 |
Trade Balance (million USD) | -14,551 | -18,019 | -19,960 | -21,676 | -27,291 |
Trade Balance (Including Service) (million USD) | -5,304 | -8,157 | -10,282 | -10,875 | -16,177 |
Imports of Goods and Services (Annual % Change) | 11.5 | 8.6 | 8.6 | -5.2 | 14.6 |
Exports of Goods and Services (Annual % Change) | 7.8 | 5.3 | 5.4 | -9.5 | 12.5 |
Imports of Goods and Services (in % of GDP) | 44.8 | 44.9 | 44.3 | 41.2 | 46.5 |
Exports of Goods and Services (in % of GDP) | 42.3 | 41.5 | 40.2 | 36.9 | 40.8 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 8.4 | 4.3 | 4.6 | 4.9 | 5.0 |
Volume of imports of goods and services (Annual % change) | 9.7 | 4.8 | 4.7 | 4.4 | 4.1 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of the ASEM (Asia-Europe Meeting).
Main Customers (% of Exports) |
2021 |
Germany | 20.5% |
Italy | 10.4% |
France | 6.4% |
Hungary | 5.7% |
Poland | 4.0% |
See More Countries | 53.0% |
Main Suppliers (% of Imports) |
2021 |
Germany | 20.2% |
Italy | 8.9% |
Hungary | 6.9% |
Poland | 6.2% |
China | 5.5% |
See More Countries | 52.4% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. 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%.
Vols fer algun comentari sobre aquest contingut? Escriu-nos.
© eexpand, Tots els drets reservats.
Actualitzacions: May 2023