Flag Romania

Econ Complexity (2018): 0.92, Rank 29 of 137

Product Exports (2018): $81.6B, Rank 41 of 222

Exports Per Capita (2018): $4.19k, Rank 151 of 219

Product Imports (2018): $95.3B, Rank 38 of 221

Imports Per Capita (2018): $4.89k, Rank 172 of 219

Service Exports (2017): $19.4B, Rank 40 of 139

Service Imports (2017): $13.5B, Rank 47 of 139

GDP (2018): $240B, CURRENT US$
Rank 47 of 196

GDP growth (2008 - 2018): 11.8%, CURRENT US$
Rank 138 of 196

GDP PC (2018): $12,301, CURRENT US$
Rank 64 of 196

GDP PC GROWTH (2008 - 2018): 17.9%, CURRENT US$
Rank 106 of 196

Overview: This page contains the latest international trade data for Romania, including service trade data, and tariffs. In 2018 Romania was the number 47 economy in the world in terms of GDP (current US$), the number 41 in total exports, the number 38 in total imports, and the number 29 most complex economy according to the Economic Complexity Index (ECI). In 2018, Romania exported $81.6B and imported $95.3B, resulting in a negative trade balance of -$13.6B. In 2018, Romania's exports per capita were $4.19k and its imports per capita were $4.89k.

Trade: The top exports of Romania are Vehicle Parts ($7.53B), Cars ($5.62B), Insulated Wire ($4.75B), Refined Petroleum ($2.62B), and Electrical Control Boards ($2.21B). The top imports of Romania are Vehicle Parts ($4.66B), Crude Petroleum ($3.69B), Cars ($2.96B), Packaged Medicaments ($2.88B), and Insulated Wire ($2.19B).

Destinations: Romania exports mostly to Germany ($18.3B), Italy ($8.8B), France ($5.51B), United Kingdom ($3.41B), and Hungary ($3.36B), and imports mostly from Germany ($18.6B), Italy ($9.14B), Hungary ($6.18B), Poland ($5.42B), and China ($4.99B).

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

Yearly Exports

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Top Export (2018): Vehicle Parts, $7.53B

Top Destination (2018): Germany, $18.3B

In 2018 Romania exported a total of $81.6B, making it the number 41 exporter in the world. During the last five reported years the exports of Romania have changed by $15.8B from $65.8B in 2013 to $81.6B in 2018.

The most recent exports are led by Vehicle Parts ($7.53B), Cars ($5.62B), Insulated Wire ($4.75B), Refined Petroleum ($2.62B), and Electrical Control Boards ($2.21B). The most common destination for the exports of Romania are Germany ($18.3B), Italy ($8.8B), France ($5.51B), United Kingdom ($3.41B), and Hungary ($3.36B).

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Yearly Imports

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Top Import (2018): Vehicle Parts, $4.66B

Top Origin (2018): Germany, $18.6B

In 2018 Romania imported $95.3B, making it the number 38 trade destination in the world. During the last five reported years the imports of Romania changed by $24.1B from $71.2B in 2013 to $95.3B in 2018.

The most recent imports of Romania are led by Vehicle Parts ($4.66B), Crude Petroleum ($3.69B), Cars ($2.96B), Packaged Medicaments ($2.88B), and Insulated Wire ($2.19B). The most common import partners for Romania are Germany ($18.6B), Italy ($9.14B), Hungary ($6.18B), Poland ($5.42B), and China ($4.99B).

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Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Romania Exports Services (2017): $19.4B

Romania Imports Services (2017): $13.5B

In 2017, Romania exported $19.4B worth of services. The top services exported by Romania in 2017 were Transportation ($6.97B), Miscellaneous business, professional, and technical services ($4.47B), Computer and information services ($4.47B), Travel ($2.53B), and Construction services ($503M).

The top services imported by Romania in 2017 were Travel ($3.47B), Miscellaneous business, professional, and technical services ($3.42B), Transportation ($2.83B), Computer and information services ($2.29B), and Royalties and license fees ($894M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Romania. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Romania are Sugar beet (178%) and Whey (173%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Romania are:
109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)
119: Customs Union between EU and Turkey
121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group
122: EU preferential tariff for sugar producing countries
123: European Union Generalized System of Preference
124: European Union GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
161: Preferential tariff for Algeria
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
177: Preferential tariff for Cameroon
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
205: Preferential tariff for Ecuador
206: Preferential tariff for Egypt
209: Preferential tariff for EPA countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
223: Preferential tariff for Fiji
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
227: Preferential tariff for Ghana
238: Preferential tariff for Iceland
239: Preferential tariff for India
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
258: Preferential tariff for Liechtenstein
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
281: Preferential tariff for Norway
283: Preferential tariff for Overseas Countries and Territories
284: Preferential tariff for Pakistan
287: Preferential tariff for Papua New Guinea
289: Preferential tariff for Peru
293: Preferential tariff for San Marino
295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)
299: Preferential tariff for Singapore
302: Preferential tariff for South Africa
306: Preferential tariff for Switzerland
308: Preferential tariff for Syria
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
325: Preferential tariff for Ukraine
341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Romania's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨48th to the 29th⁩ 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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Most Specialized Products by RCA Index

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Romania has a high level of specialization in Sunflower Seeds (40.1), Sheep and Goats (28), Non-Retail Combed Wool Yarn (20.3), Revolution Counters (14.8), and Horse Meat (14). Specialization is measured using RCA, an index that takes the ratio between Romania observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Romania according to the product complexity index (PCI) are Cermets and articles thereof, waste or scrap (2.21), Electric solder, weld, braze,hot metal spray equipment (1.83), Metal pickling preps, solder, brazing flux, weld cores (1.73), Machines for hot working of glass, light bulbs, etc (1.67), and Rolled stainless steel sheet, width < 600mm (1.62). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Romania according to the relatedness index, are Iron Stovetops (0.33), Aluminium Structures (0.31), Fuel Wood (0.31), Raw Iron Bars (0.31), and Knit Active Wear (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.

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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.