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Includes historical data for Romania’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Economy Benefits From Well-Educated, Low-Cost Workforce

Formerly a Soviet bloc country, Romania began its transition from communism to a market-based economy in 1989. Positioned strategically at the crossroads of European and Central Asian consumption centers, this nation of close to 20 million people boasts a large domestic market, significant agricultural and energy resources, and a well-educated and relatively low-cost workforce. Its membership in the European Union, alongside the government’s provision of national treatment for foreign investors, further enhances its business appeal.

However, progress on structural reforms has been inconsistent. Despite some progress, corruption, cronyism and bureaucratic red tape are ongoing challenges. Additionally, Romania grapples with an aging population, the emigration of skilled labor, and high inequality rates.

Macroeconomy & Sovereign Data

Type of Government Semi-presidential republic
Capital Bucharest
Sovereign Ratings S&P: BBB–
Moody’s: Baa3
Fitch: BBB–
Total Population 18.9 million
Median Age 41.8
Adult Per Capita Income (PPP) 42,922.78
Total GDP (2023) 370 billion

Romania GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 133.6 billion (2023)
Leading Exports Cars And Vehicle Parts
Insulated Wiring
Refined Petroleum
Electrical Control Boards
Total Imports USD 100.0 billion (2022)
Leading Imports Cars And Vehicle Parts
Crude Petroleum
Packaged Medicines
Insulated Wiring
Broadcasting Equipment
Source: World Integrated Trade Solution

Romania Leading Companies

Banca Transilvania Financials
Banca Comerciala Romana Financials
Automobile Dacia Automobiles & Components
UI Path Information Technology, Software & Services
Digi Communications Telecommunication Services
Țiriac Holdings Conglomerate, Industrials, Financials, Real Estate
Blue Air Airlines

Major Trade Partners — Import

Germany 20%
Italy 9%
Hungary 7%
Poland 6%
China 6%

Source: World Integrated Trade Solution

Major Trade Partners — Export

Germany 21%
Italy 10%
France 6%
Hungary 6%
Poland 4%

Source: World Integrated Trade Solution

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000