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Overview In 2021, Romania was the number 46 economy in the world in terms of GDP (current US$), the number 42 in total exports, the number 38 in total imports, the number 73 economy in terms of GDP per capita (current US$) and the number 26 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Romania are Motor vehicles; parts and accessories (8701 to 8705) ($6.52B), Cars ($6.16B), Insulated Wire ($4.31B), Electrical Control Boards ($2.75B), and Wheat ($2.33B), exporting mostly to Germany ($17.7B), Italy ($8.85B), France ($5.5B), Hungary ($4.51B), and Poland ($3.5B).

In 2021, Romania was the world's biggest exporter of Sunflower Seeds ($937M) and Sheep and Goats ($337M)

Imports The top imports of Romania are Motor vehicles; parts and accessories (8701 to 8705) ($3.98B), Packaged Medicaments ($3.35B), Cars ($3.34B), Insulated Wire ($2.15B), and Refined Petroleum ($2.1B), importing mostly from Germany ($21.3B), Italy ($10.1B), Hungary ($7.25B), Poland ($7.02B), and China ($6.89B).

Location Romania borders Bulgaria, Hungary, Moldova, Serbia, and Ukraine by land and Turkey by sea.

Latest Trends

Latest Trade

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The following section uses the most recent trade data from partners of Romania.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Latest Data

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The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
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Depth
Top Destination (2021)Germany$17.7B

In 2021, Romania exported a total of $90.8B, making it the number 42 exporter in the world. During the last five reported years the exports of Romania have changed by $24.9B from $65.9B in 2016 to $90.8B in 2021.

The most recent exports are led by Motor vehicles; parts and accessories (8701 to 8705) ($6.52B), Cars ($6.16B), Insulated Wire ($4.31B), Electrical Control Boards ($2.75B), and Wheat ($2.33B). The most common destination for the exports of Romania are Germany ($17.7B), Italy ($8.85B), France ($5.5B), Hungary ($4.51B), and Poland ($3.5B).

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Exports (2021)
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Destinations (2021)
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Market Growth

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Fastest Growing Export Markets (2020 - 2021)
Germany$1.85B (+ 11.6%)
Italy$1.45B (+ 19.6%)
Hungary$1.28B (+ 39.7%)
Fastest Growing Import Markets (2020 - 2021)
Germany$3.53B (+ 19.8%)
Italy$2.09B (+ 26.1%)
Turkey$1.67B (+ 42.3%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Romania Exports Services (2020)$18.5B
Romania Imports Services (2020)$13.8B

In 2020, Romania exported $18.5B worth of services. The top services exported by Romania in 2020 were Other transport ($6.91B), Miscellaneous business, professional, and technical services ($5.78B), Information services ($890M), Telecommunications services ($877M), and Business travel ($780M).

The top services imported by Romania in 2020 were Miscellaneous business, professional, and technical services ($4.65B), Personal travel ($2.04B), Other transport ($2.02B), Business travel ($1.05B), and Air transport ($598M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.07Rank 26 of 131
Economic Complexity (Technology)0.49Rank 42 of 96
Economic Complexity (Research)-0.22Rank 79 of 140

Most Specialized Products by RCA Index

Romania has a high level of specialization in Sunflower Seeds (45.8), Sheep and Goats (39.5), Retail Wool or Animal Hair Yarn (19.2), Processed Tobacco (18.8), and Non-Retail Combed Wool Yarn (17.6). Specialization is measured using RCA, an index that takes the ratio between Romania observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Romania according to the relatedness index, were Iron Stovetops (0.32), Iron Cloth (0.31), Large Iron Containers (0.31), Metal Stoppers (0.31), and Knit Socks and Hosiery (0.31). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Romania is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Romania. These are products that tend to be co-exported with the products that Romania exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Romania's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨45th to the 26th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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