Romania flag Romania: Economic and Political Overview

Foreign trade figures of Romania

Foreign Trade in Figures

Romania is open to foreign trade, which represents 93% of its GDP (World Bank, latest data available). The country mainly exports machinery and transport equipment (44.8% of total exports in 2023, mostly cars), manufactured goods classified mainly by raw materials (15.9%), miscellaneous manufactured articles (13.9%), and food and live animals (8.2%). Imports are led by machinery (36.8%); mineral products; chemical products; and base metals (data INSEE 2023).

The European Union is the main trading partner, accounting for 72.6% of total exports and 73.3% of imports in 2023. The leading countries for exports are Germany (19.8%), Italy (10.1%), Hungary (7.3%), France (6.0%), Bulgaria (3.9%); whereas imports are led by Germany (17.8%), Italy (8.2%), Bulgaria (7.1%), Hungary (6.5%), Poland (5.9% - data Comtrade 2022).

Romania’s foreign trade figures for 2022 published by WTO show that merchandise exports amounted to USD 96.7 billion (+10.6% year-on-year), while imports increased at a faster pace (+14%), to USD 132.5 billion. On the other hand, the country is a net exporter of commercial services, with exports totaling USD 38.9 billion against USD 25.5 billion in imports (+17.9% and +16.9%, respectively). Overall, Romania has a structurally negative trade balance, which has been widening in recent years: for 2022, it stood at around 6.9% of the country’s GDP (from 5.7% one year earlier - World Bank). According to preliminary figures from the national statistical office INSEE, in 2023, exports reached EUR 93.098 billion, indicating a modest increase of 1.3%, while imports totaled EUR 122.045 billion, showing a decline of 3.2% compared to the previous year, resulting in a decrease of 15.1% in the trade deficit compared to the previous year.

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 97,74796,54492,132116,203132,491
Exports of Goods (million USD) 79,66076,87170,71887,38896,707
Imports of Services (million USD) 18,22020,61416,32421,85125,548
Exports of Services (million USD) 28,09130,30227,09232,99838,918

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 86.584.578.187.092.0
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) 8.68.6-5.214.99.2
Exports of Goods and Services (Annual % Change) 5.35.4-9.512.68.6
Imports of Goods and Services (in % of GDP) 44.944.341.246.349.4
Exports of Goods and Services (in % of GDP) 41.540.236.940.642.5

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 2.38.06.56.15.6
Volume of imports of goods and services (Annual % change) 3.07.76.05.95.1

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Member of the European Union
Member of the European Economic Area which has guaranteed, since 1 January 1993, the free movement of most goods between European countries.
Multilateral agreements and bilateral agreements with many countries.

Member of the ASEM (Asia-Europe Meeting).

 

Main Partner Countries

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%.

 
 

Main Products

96.8 bn USD of products exported in 2022
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 6.9%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 6.4%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 4.3%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 3.8%
Boards, panels, consoles, desks, cabinets and...Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 8535 or 8536, for electric control or the distribution of electricity, incl. those incorporating instruments or apparatus of chapter 90, and numerical control apparatus (excl. switching apparatus for line telephony or line telegraphy) 3.3%
See More Products 75.3%
132.7 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 4.4%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 3.5%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 2.7%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.7%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.6%
See More Products 84.0%

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.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: April 2024