Overview In 2020, Romania was the number 45 economy in the world in terms of GDP (current US$), the number 41 in total exports, the number 36 in total imports, the number 62 economy in terms of GDP per capita (current US$) 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) ($6.07B), Cars ($5.75B), Insulated Wire ($3.67B), Electrical Control Boards ($2.33B), and Rubber Tires ($1.6B), exporting mostly to Germany ($15.9B), Italy ($7.45B), France ($4.65B), Hungary ($3.24B), and Bulgaria ($2.59B).

In 2020, Romania was the world's biggest exporter of Sunflower Seeds ($671M) and Sheep and Goats ($285M)

Imports The top imports of Romania are Motor vehicles; parts and accessories (8701 to 8705) ($3.85B), Packaged Medicaments ($3.17B), Cars ($2.49B), Crude Petroleum ($2.18B), and Insulated Wire ($1.76B), importing mostly from Germany ($17.8B), Italy ($7.81B), Hungary ($6.28B), China ($5.76B), and Poland ($5.58B).

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

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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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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

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

Historical Data

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Top Export (2020): Motor vehicles; parts and accessories (8701 to 8705), $6.07B

Top Destination (2020): Germany, $17.8B

In 2020, Romania exported a total of $73B, making it the number 41 exporter in the world. During the last five reported years the exports of Romania have changed by $10.3B from $62.8B in 2015 to $73B in 2020.

The most recent exports are led by Motor vehicles; parts and accessories (8701 to 8705) ($6.07B), Cars ($5.75B), Insulated Wire ($3.67B), Electrical Control Boards ($2.33B), and Rubber Tires ($1.6B). The most common destination for the exports of Romania are Germany ($15.9B), Italy ($7.45B), France ($4.65B), Hungary ($3.24B), and Bulgaria ($2.59B).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Romania Exports Services (2019): $4.64B

Romania Imports Services (2019): $3.83B

In 2019, Romania exported $4.64B worth of services. The top services exported by Romania in 2019 were Other transport ($1.59B), Miscellaneous business, professional, and technical services ($1.28B), Business travel ($410M), Personal travel ($344M), and Air transport ($203M).

The top services imported by Romania in 2019 were Miscellaneous business, professional, and technical services ($1.02B), Personal travel ($918M), Other transport ($458M), Business travel ($346M), and Air transport ($294M).

Economic Complexity

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Most Specialized Products by RCA Index

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Romania has a high level of specialization in Sheep and Goats (44.6), Sunflower Seeds (31.9), Non-Retail Combed Wool Yarn (22.1), Processed Tobacco (18), and Revolution Counters (14). Specialization is measured using RCA, an index that takes the ratio between Romania observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Romania according to the relatedness index, are Iron Stovetops (0.32), Aluminium Structures (0.31), Iron Cloth (0.3), Central Heating Boilers (0.3), and Locomotive Parts (0.3). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Romania is not specialized in.

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

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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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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

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During the last 20 years Romania's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨44th 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.

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