Romania flag Romania: Economic and Political Overview

Foreign trade figures of Romania

Foreign Trade in Figures

Romania is open to foreign trade, which represents 79% of its GDP (World Bank, latest data available). The country mainly exports motor cars (7.6%) and their parts (8.7%), as well as insulated electric conductors (5.1%); while imports are led by parts for motor vehicles (4.2%), medicaments (3.6%), motor cars (2.5%), and crude oil (2.5% - Comtrade).

The European Union is the main trading partner, especially Germany (22.8%), Italy (10.7%), France (6.7%) and Hungary (5%). Imports follow a similar path, with Germany (20.8%) being the main destination for Romania’s exports, followed by Italy (8.9%), Hungary (7.3%), Poland and China (6.2% each).

Romania’s foreign trade figures for 2020 published by WTO show that merchandise exports amounted to USD 70.7 billion (-8% year-on-year), while imports decreased at a slower pace (-4.5%), to USD 92.1 billion. On the other hand, the country is a net exporter of commercial services, with exports totalling USD 27 billion against USD 16.2 billion of imports (-10.6% and -20.7%, respectively). Overall, Romania has a structurally negative trade balance, which has been widening in recent years: for 2020, it stood at around 4.4% of the country’s GDP (World Bank). According to figures from the national statistical office INSEE, in 2021 exports of goods totalled RON 367,546 million (+22.2%) against RON 484,186 million of imports (+24.3 y-o-y). Intra-EU trade accounted for 72.4% of both imports and exports.

 
Foreign Trade Values 20162017201820192020
Imports of Goods (million USD) 74,53985,48697,74796,54492,124
Exports of Goods (million USD) 63,52070,76179,66076,86770,721
Imports of Services (million USD) 11,39914,02318,20620,52216,275
Exports of Services (million USD) 19,84123,31428,08830,27327,064

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

Foreign Trade Indicators 20162017201820192020
Foreign Trade (in % of GDP) 84.686.587.185.079.0
Trade Balance (million USD) -10,671-14,551-18,019-19,964-21,930
Trade Balance (Including Service) (million USD) -1,946-5,304-8,157-10,286-11,150
Imports of Goods and Services (Annual % Change) 16.611.58.66.8-5.1
Exports of Goods and Services (Annual % Change) 16.37.85.34.6-9.7
Imports of Goods and Services (in % of GDP) 42.844.545.344.641.7
Exports of Goods and Services (in % of GDP) 41.842.041.940.437.3

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2022 (e)2023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) 5.93.75.96.36.5
Volume of imports of goods and services (Annual % change) 9.16.06.66.66.7

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)
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%.

 
 

Main Products

88.4 bn USD of products exported in 2021
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. 7.5%
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) 6.3%
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 4.7%
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) 3.4%
Maize or cornMaize or corn 2.2%
See More Products 75.9%
116.4 bn USD of products imported in 2021
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. 3.8%
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) 3.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 2.9%
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) 2.7%
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 1.9%
See More Products 85.7%

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.

 

Main Services

23.9 bn USD of services exported in 2020
31.66%
27.11%
25.70%
6.03%
4.31%
2.42%
1.23%
0.55%
0.46%
0.41%
0.10%
15.8 bn USD of services imported in 2020
31.87%
19.55%
18.44%
16.16%
5.62%
4.45%
1.64%
1.02%
0.47%
0.42%
0.37%

Source: United Nations Statistics Division, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: November 2022

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