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2023
Economic Complexity
Trade 1.02Rank 28 of 132
2021
Economic Complexity
Technology 0.49Rank 42 of 96
2022
Economic Complexity
Research -0.0085Rank 61 of 140
2023
Product
Exports | Imports $104B | $133B41 of 226 |  36 of 226
2023
Per Capita Product
Exports | Imports $5.48k | $7k60 of 220 |  38 of 220

About

Overview In 2023, Romania was the number 43 economy in the world in terms of GDP (current US$), the number 41 in total exports, the number 36 in total imports, the number 66 economy in terms of GDP per capita (current US$) and the number 28 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Romania are Cars ($9.37B), Motor vehicles; parts and accessories (8701 to 8705) ($8.05B), Insulated Wire ($4.11B), Wheat ($3.13B), and Electrical Control Boards ($3.04B), exporting mostly to Germany ($19.9B), Italy ($10.2B), France ($6.5B), United Kingdom ($5.14B), and Hungary ($4.22B).

In 2023, Romania was the world's biggest exporter of Sunflower Seeds ($860M) and Non-Retail Silk Yarn ($104M)

Imports The top imports of Romania are Motor vehicles; parts and accessories (8701 to 8705) ($5.36B), Packaged Medicaments ($4.31B), Cars ($4.27B), Crude Petroleum ($4.15B), and Refined Petroleum ($3.41B), importing mostly from Germany ($25.1B), Italy ($11.3B), Hungary ($8.43B), Poland ($8.29B), and China ($7.45B).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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
Color
Depth
Top Export (2023)Cars$9.37B
Top Destination (2023)Germany$19.9B

In 2023, Romania exported a total of $104B, making it the number 41 exporter in the world. During the last five reported years the exports of Romania have changed by $20.5B from $84B in 2018 to $104B in 2023.

The most recent exports are led by Cars ($9.37B), Motor vehicles; parts and accessories (8701 to 8705) ($8.05B), Insulated Wire ($4.11B), Wheat ($3.13B), and Electrical Control Boards ($3.04B). The most common destination for the exports of Romania are Germany ($19.9B), Italy ($10.2B), France ($6.5B), United Kingdom ($5.14B), and Hungary ($4.22B).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Germany$1.92B (+ 10.7%)
France$789M (+ 13.8%)
Italy$752M (+ 7.92%)
Fastest Growing Import Markets (2022 - 2023)
Germany$1.83B (+ 7.83%)
Kazakhstan$972M (+ 58%)
India$697M (+ 94.5%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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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)1.02Rank 28 of 132
Economic Complexity (Technology)0.49Rank 42 of 96
Economic Complexity (Research)-0.0085Rank 61 of 140

Most Specialized Products by RCA Index

Romania has a high level of specialization in Sunflower Seeds (33.4), Sheep and Goats (23), Processed Tobacco (22.1), Rapeseed (20.9), and Non-Retail Combed Wool Yarn (20.5). 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

The highest complexity exports of Romania according to the product complexity index (PCI) are Ion-exchangers; based on polymers of heading no. 3901 to 3913, in primary... (1.65), Instruments and apparatus; for physical or chemical analysis (e.g. polarimeters, spectrometers), for... (1.65), Chain and parts thereof, of iron or steel (1.64), Metal-pickling preparations; fluxes etc for soldering, brazing; welding powders, pastes of metal... (1.61), and Alloy steel flat-rolled products, of a width of less than 600mm (1.57). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Romania according to the relatedness index, were Insulating Glass (0.34), Large Iron Containers (0.34), Iron Stovetops (0.34), Metal Stoppers (0.34), and Iron Cloth (0.33). 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.

Relatedness Space (2023)

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Romania's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨46th to the 28th⁩ 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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ECI (Trade) Ranking by Country

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