 | |
| Currency | Romanian leu (RON) |
|---|---|
| Calendar year | |
Trade organisations | EU,WTO andBSEC |
Country group |
|
| Statistics | |
| Population |  19,036,031 (2025)[4] |
| GDP | |
| GDP rank | |
GDP growth | |
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
| 8.5% (2025)[5] | |
Population belowpoverty line |
|
 29.8low (2023)[6] | |
| |
 45 out of 100 points (2025,70th) | |
Labour force | |
Labour force by occupation |
|
| Unemployment | 5.9% (2025)[5] |
Average gross salary | RON 9,078 / €1,783 / $2,061 monthly (November 2025)[11] |
| RON 5,443 / €1,069 / $1,236 monthly (November 2025)[11] | |
Main industries | Electric machinery andequipment, auto assembly, textiles and footwear, light machinery,metallurgy,chemicals,food processing,petroleum refining, mining, timber,construction materials.[3] |
| External | |
| Exports |
|
Export goods | List
|
Main export partners | |
| Imports | |
Import goods | List
|
Main import partners | |
FDI stock | |
Grossexternal debt | € 221.2 billion (2025)[21] |
| Public finances | |
| |
| € 65.347 billion (2025)[22] (33rd) | |
| |
| Revenues |
|
| Expenses |
|
| Economic aid |
|
All values, unless otherwise stated, are inUS dollars. | |
Romania has ahigh-incomemarket economy that has achieved rapid convergence towardEuropean Union standards since joining in 2007, withper capita income rising from 26% of the EU average in 2000 to 78% by 2024, driven byforeign direct investment inmanufacturing andservices amid post-communist reforms.[27]
Romania's nominal GDP reached approximately $423 billion in 2024, reflecting real growth of 0.9% that year after 2.1% in 2023, propelled by sectors such asautomotive industry,information technology outsourcing, andagriculture, though constrained by weak private investment and a wideningtrade deficit.[28][29][30]
Key achievements include sustainedemployment expansion and innovation in high-value industries, yet defining challenges persist, including high fiscaldeficits projected at 8.6% of GDP in 2025,corruption hindering institutional efficiency, and significant laboremigration exacerbating skills shortages and demographic pressures.[31][29]
Prior tounification in 1859, the economies ofWallachia andMoldavia were predominantly agrarian, withagriculture employing the vast majority of the population and serving as the primary source of exports, particularly cereals shipped via theDanube toWestern Europe.[32]Oil extraction began in rudimentary form in the mid-19th century, with the first systematic refinery operational nearPloiești by 1857, marking Romania as the site of the world's inaugural recordedpetroleum production of approximately 275 tonnes annually.[33][34] Followingindependence in 1878 and the establishment of the Kingdom in 1881,foreign direct investment primarily fromGermany,France, andUnited Kingdom fueled early resource extraction, though the economy remained overwhelmingly rural, with limitedinfrastructure and social relations stunted by feudal legacies.[32]
Modern industrialization accelerated from 1886 onward, driven by legislative incentives like the 1887 mining law that encouragedforeign capital while prioritizing extractive sectors.[35] Industrial output expanded 9.6-fold between 1893 and 1913, with annual growth averaging 4.3%, propelled by oil production surging from 25,000 tons in 1887 to 1.848 million tons in 1913 andelectricity generation capacity rising from 851 kW in 1888 to 61,657 kW by 1913.[35] By 1913, Romania'sGDP per capita reached 1,253 USD (in 2000Purchasing power parity terms), withagriculture comprising 56% of goodsvalue added andmanufacturing 35.3%, reflecting a gradual shift from subsistence farming toward export-oriented resource industries amid overall economic growth indexed at 217 relative to the 1862–1866 base of 100.[36]
Theinterwar period, following territorial expansion intoGreater Romania afterWorld War I which tripled the land area and increased the population to about 18 million saw initial recovery hampered by war devastation andhyperinflation, but average annual GDP growth of 5.8% from 1920 to 1929 supported modernization efforts, including land reforms redistributing estates to over 1 million peasant households between 1918 and 1921.[37][36]Agriculture retained dominance, contributing 37.82% ofvalue added in 1929 and employing around 70–80% of the workforce, while industry expanded to 27–30% of value added by the mid-1920s, bolstered byextraction of petroleum that doubled from pre-war levels by 1924 and overtook cereals as the leadingexport by 1930.[37][38][39] TheGreat Depression inflicted severe contraction, with GDP per capita falling at -3.18% annually from 1930 to 1932, triggering industrial slumps and rural distress, though recovery averaged 3.4% yearly GDP growth from 1934 to 1939 via protectionist policies andbilateral trade deals emphasizingraw material exports.[37] These foundations rooted in agrarianexports,oil dependency, and nascentheavy industry positioned Romania as a peripheralEuropean economy reliant on foreign capital and vulnerable to global shocks.[36]
After 1945, Soviet-occupied Romania became a member of theEastern Bloc and switched to aSoviet-stylecommand economy. During this period the country experienced rapidindustrialisation in an attempt to create a "multilaterally developed socialist society". Economic growth was further fuelled by foreign credits in the 1970s, eventually leading to a growing foreign debt, which peaked at $11–12 billion.[40]
Romania's debt was completely paid off during the 1980s by implementingsevere austerity measures which deprived Romanians of basic consumer goods. In 1989, before theRomanian Revolution, Romania had a GDP of about 800 billion lei, or $53.6 billion.[41] Around 58% of the country's gross national income came from industry, and another 15% came from agriculture.[41] The minimum wage was 2,000 lei, or approx. $57.[41]
The end of the communist period marked the beginning of a sharp economic downturn. Romania's weight in the global economy dropped to 0.3% in 1993, down from 0.8% in 1983.
Privatisation of industry started with the 1992 transfer of 30% of the shares of some 6,000 state-owned enterprises to five private ownership funds, in which each adult citizen received certificates of ownership. The remaining 70% ownership of the enterprises was transferred to a state ownership fund, with a mandate to sell off its shares at the rate of at least 10% per year. The privatisation law also called for direct sale of some 30 specially selected enterprises and the sale of "assets" (i.e., commercially viable component units) of larger enterprises.
As of 2008, inflation stood at 7.8%, up from 4.8% in 2007[42] estimated by theBNR at coming within 6% for the year 2006 (the year-on-yearCPI, published in March 2007, is 3.66%). Also, since 2001, the economy has grown steadily at around 6–8%. Therefore, the PPP per capita GDP of Romania in 2008 was estimated to be between $12,200[43] and $14,064.[44]
Romania was the largest U.S. trading partner in Central-Eastern Europe untilNicolae Ceaușescu's 1988 renunciation ofMost Favored Nation (non-discriminatory) trading status, which resulted in higher U.S. tariffs on Romanian products. Congress approved restoration of the MFN status effective 8 November 1993, as part of a new bilateral trade agreement. Tariffs on most Romanian products dropped to zero in February 1994 with the inclusion of Romania in the Generalized System of Preferences (GSP). Major Romanian exports to the U.S. include shoes and clothing, steel, and chemicals.
Romania signed anAssociation Agreement with the EU in 1992 and a free trade agreement with theEuropean Free Trade Association (EFTA) in 1993, codifying Romania's access to European markets and creating the basic framework for further economic integration. Romania formally joined the EU in 2007.
During the later part of the Ceaușescu period, Romania had earned significant contracts from several developing countries, notably Iraq, for oil-related projects. In August 2005 Romania agreed to forgive 43% of the US$1.7 billion debt owed by an Iraq still largely occupied by the military forces of the U.S.-led "Coalition of the Willing", making Romania the first country outside of theParis Club of wealthy creditor nations to forgive Iraqi debts.[45]
Growth in 2000–07 was supported by exports to the EU, primarily to Italy and Germany, and a strong recovery of foreign and domestic investment. Domestic demand is playing an ever more important role in underpinning growth as interest rates drop and the availability of credit cards and mortgages increases. Current account deficits of around 2% of GDP are beginning to decline[citation needed] as demand for Romanian products in the European Union increases. Accession to the EU gives further impetus and direction to structural reform.
In early 2004 the government passed increases in thevalue-added tax (VAT) and tightened eligibility for social benefits with the intention to bring the public finance gap down to 4% of GDP by 2006, but more difficult pension and healthcare reforms will have to wait until after the next elections. Privatisation of the state-owned bankBanca Comercială Română took place in 2005. Intensified restructuring among large enterprises, improvements in the financial sector, and effective use of available EU funds is expected to accelerate economic growth. However, the Romanian economy was affected by the2008 financial crisis and contracted in 2009.[46]
After communism, Romania neededcapital infusion,entrepreneurial and managerial skills, the fastest way to obtain that was through foreign direct investment (FDI).[47] As of 2018, total FDI in Romania was 81 billion EUR, 63% of total (51 billion) aregreenfield investments. Top ten FDI stock by country of origin in 2018 were: Netherlands (23.9%), Germany (12.7%), Austria (12.2%), Italy (9.5%), Cyprus (6.2%), France (6%), Switzerland (4.5%), Luxembourg (4.2%), Belgium (2.2%) and United Kingdom (2.1%).[48]
The level of investment remains above EU average. Investment accounts for almost 25% of GDP in Romania as opposed to 19% of GDP in the EU, in 2016.[49]
Locally, UniCredit, one of the region's leading banking firms, announced in October 2023 that it will merge its Romanian affiliate with the recently purchased Alpha bank in Romania (for €300 million), creating Romania's third-largest lender.[50]
Romania's Recovery and Resilience Plan dedicates over €6 billion to digitalisation efforts, encompassing public administration, connectivity, cybersecurity, digital skills, and the development of an integrated e-health and telemedicine system.[51] The European Investment Bank Project Advisory Support programme aids Romania in advancing digitalisation through collaborations with the National Agency for Public Procurement and the Ministry of Research, Innovation, and Digitalisation[52][53]
This assistance includes evaluating ICT projects and supporting the rollout of a €600 million government cloud initiative, aimed at enhancing interoperability, reducing bureaucracy, and bolstering cybersecurity.[52]
On 1 January 2007 Romania and Bulgaria entered the EU, giving the Union access to theBlack Sea. This led to some immediate international trade liberalisation. Romania is part of the European single market which represents more than 447 million consumers. Several domestic commercial policies are determined by agreements among European Union members and by EU legislation. This is to be contrasted with enormouscurrent account deficits. Lowinterest rates guarantee availability of funds for investment and consumption. For example, a boom in thereal estate market started around 2000 and has not subsided yet. At the same time annual inflation in the economy is variable and during the mid-2000s (2003–2008) has seen a low of 2.3% and high of 7.8%.
Romania adopted 1 January 2005 aflat tax of 16% to improve tax collection rates. Romania subsequently enjoyed the lowest fiscal burden in the European Union, until Bulgaria also switched to a flat tax of 10% in 2007. Since 2018 the flat rate was lowered to 10%.
Romania posted 6% economic growth in 2016, the highest among European Union member states. According to Bloomberg, the country's economic growth advanced at the fastest pace since 2008.[54] It is now considered the next tech-startup hub country in EU. Nowadays, that Romania's digital infrastructure ranks higher than other eastern and central European countries makes it an attractive place to start a tech business.[55]
IMF for 2022 (October) published the following data:[56]
| Year | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| $/per capita (PPP) | 38 | 40,673 | 43,100 | 45,445 | 47,940 | 50,573 |
| $/per capita (Nominal) | 15 | 16,228 | 17,566 | 18,935 | 20,263 | 21,665 |
In the Romanian press the economy has been referred to as the "Tiger of the East" during the 2000s.[57] Romania is a country of considerable economic potential: over 10 million hectares of agricultural land, diverse energy sources (coal, oil, natural gas,hydro,nuclear, andwind), a substantial, if aging, manufacturing base and opportunities for expanded development in tourism on the Black Sea and in the mountains.
Net investments in Romania's economy totaled RON 33.6 billion (EUR 7.2 billion) in the first half of 2018, up by 5.8% compared to the same period of 2017, according to the National Statistics Institute (INS).[58]
In the same year (2018) foreign direct investment (FDI) was 81 billion, 63% (51 billion) being "green field"
The following table shows the main economic indicators in 1980–2022 (with IMF staff estimates in 2023–2028). Inflation under 5% is in green.[59]
| Year | GDP (in Bil. US$ PPP) | GDP per capita (in US$ PPP) | GDP (in Bil. US$ nominal) | GDP per capita (in US$ nominal) | GDP growth (real) | Inflation rate (in Percent) | Unemployment (in Percent) | Government debt (in % of GDP) |
|---|---|---|---|---|---|---|---|---|
| 1980 | 114.1 | 5,087 | 46.1 | 2,052 |  3.3% | 1.5% | N/a | N/a |
| 1981 | 125.1 | 5,541 | 55.3 | 2,450 | 0.1% | 2.2% | N/a | N/a |
| 1982 | 138.0 | 6,084 | 55.4 | 2,441 | 3.9% |  16.9% | N/a | N/a |
| 1983 | 152.0 | 6,674 | 48.4 | 2,125 | 6.0% | 4.7% | N/a | N/a |
| 1984 | 167.0 | 7,300 | 39.1 | 1,710 | 6.0% | −0.3% | N/a | N/a |
| 1985 | 172.0 | 7,490 | 48.3 | 2,101 | −0.1% | −0.2% | 4.0% | N/a |
| 1986 | 179.7 | 7,783 | 52.3 | 2,264 | 2.4% | 0.7% | 3.9% | N/a |
| 1987 | 185.7 | 7,994 | 58.5 | 2,517 | 0.8% | 1.1% | 3.7% | N/a |
| 1988 | 191.2 | 8,191 | 60.5 | 2,593 | −0.5% | 2.6% |  3.7% | N/a |
| 1989 | 187.2 | 7,990 | 54.2 | 2,314 | −5.8% | 0.9% | 3.4% | N/a |
| 1990 | 183.3 | 7,814 | 38.5 | 1,641 | −5.6% | 127.9% | 3.4% | N/a |
| 1991 | 165.0 | 7,045 | 29.1 | 1,241 | −12.9% | 161.1% | 3.5% | N/a |
| 1992 | 154.0 | 6,599 | 19.8 | 847 | −8.8% | 210.4% | 5.4% | N/a |
| 1993 | 160.0 | 6,896 | 26.6 | 1,147 | 1.5% | 256.1% | 9.2% | N/a |
| 1994 | 169.9 | 7,365 | 30.4 | 1,317 | 3.9% | 136.7% | 11.0% | N/a |
| 1995 | 185.8 | 8,105 | 35.8 | 1,563 | 7.1% | 32.3% | 9.9% | N/a |
| 1996 | 196.7 | 8,627 | 35.7 | 1,565 | 3.9% | 38.8% | 7.3% | N/a |
| 1997 | 188.0 | 8,289 | 35.6 | 1,571 | −6.1% | 154.8% | 7.9% | N/a |
| 1998 | 180.9 | 8,018 | 42.6 | 1,885 | −4.8% | 59.1% | 9.6% | N/a |
| 1999 | 181.4 | 8,076 | 36.0 | 1,600 | −1.2% | 45.8% | 7.2% | N/a |
| 2000 | 190.9 | 8,501 | 37.4 | 1,667 | 2.9% | 45.7% | 7.6% | 29.5% |
| 2001 | 205.1 | 9,145 | 40.4 | 1,800 | 5.1% | 34.5% | 7.4% | 27.4% |
| 2002 | 220.2 | 10,083 | 46.0 | 2,108 | 5.7% | 22.5% | 8.3% | 27.3% |
| 2003 | 229.7 | 10,620 | 57.8 | 2,672 | 2.3% | 15.4% | 7.8% | 24.9% |
| 2004 | 260.1 | 12,091 | 75.1 | 3,487 | 10.3% | 11.9% | 8.0% | 21.3% |
| 2005 | 280.1 | 13,140 | 98.5 | 4,608 | 4.7% | 9.0% | 7.1% | 17.8% |
| 2006 | 312.9 | 14,718 | 122.1 | 5,744 | 8.0% | 6.6% | 7.2% | 12.7% |
| 2007 | 344.5 | 16,301 | 174.8 | 8,273 | 7.2% | 4.8% | 6.3% | 12.4% |
| 2008 | 384.1 | 18,613 | 215.6 | 10,446 | 9.4% | 7.8% | 5.6% | 13.0% |
| 2009 | 365.1 | 17,861 | 174.6 | 8,540 | −5.5% | 5.6% | 8.4% | 22.5% |
| 2010 | 355.0 | 17,493 | 170.3 | 8,391 | −3.9% | 6.1% | 9.0% | 30.2% |
| 2011 | 378.8 | 18,754 | 192.8 | 9,546 | 4.5% | 5.8% | 9.1% | 32.6% |
| 2012 | 397.3 | 19,771 | 179.2 | 8,919 | 1.9% | 3.3% | 8.7% | 36.2% |
| 2013 | 393.2 | 19,641 | 189.8 | 9,481 | 0.2% | 4.0% | 9.0% | 39.2% |
| 2014 | 410.8 | 20,592 | 200.0 | 10,025 | 4.1% | 1.1% | 8.6% | 40.5% |
| 2015 | 428.6 | 21,570 | 177.9 | 8,951 | 3.2% | −0.6% | 8.4% | 39.4% |
| 2016 | 470.9 | 23,831 | 185.3 | 9,378 | 2.9% | −1.6% | 7.2% | 39.5% |
| 2017 | 530.8 | 27,020 | 210.5 | 10,717 | 8.2% | 1.3% | 6.1% | 37.1% |
| 2018 | 576.3 | 29,504 | 243.5 | 12,465 | 6.0% | 4.6% | 5.2% | 36.2% |
| 2019 | 609.2 | 31,379 | 251.0 | 12,928 | 3.8% | 3.8% | 4.9% | 36.6% |
| 2020 | 594.4 | 30,751 | 251.7 | 13,021 | −3.7% | 2.6% | 6.1% | 49.4% |
| 2021 | 657.5 | 34,245 | 285.6 | 14,874 | 5.9% | 5.0% | 5.6% | 51.1% |
| 2022 | 737.3 | 38,721 | 301.8 | 15,851 | 4.8% | 13.8% | 5.6% | 48.7% |
| 2023 | 783.9 | 41,633 | 348.9 | 18,530 | 2.4% | 10.5% | 5.6% | 48.3% |
| 2024 | 830.5 | 44,484 | 376.7 | 20,175 | 3.6% | 5.8% | 5.4% | 49.3% |
| 2025 | 878.0 | 47,441 | 405.2 | 21,893 | 3.7% | 4.2% | 5.3% | 50.3% |
| 2026 | 927.5 | 50,509 | 429.7 | 23,398 | 3.7% | 3.0% | 5.2% | 51.4% |
| 2027 | 978.1 | 53,684 | 450.9 | 24,749 | 3.6% | 2.6% | 5.1% | 52.8% |
| 2028 | 1,031.9 | 57,075 | 469.6 | 25,974 | 3.5% | 2.5% | 5.0% | 54.2% |
The plannednational budget for 2017 is 422 billion lei ($103 billion), with an estimated budget deficit to GDP of 1.1%.
Romania has a growing middle and upper classes with relatively high per-capita income. World Bank estimated that in 2002 99% of the urban and 94% of the rural population had access to electricity. In 2004, 91% of the urban and only 16% of the rural population had access to improved water supply and 94% of the urban population had access to improved sanitation.[60] In 2017 there were about 22.5 million mobile phone users in Romania and about 18 million with internet access.
In February 2024, the gross average monthly wage was RON 8,871 (€1910), and the net average monthly wage was RON 5,556 (€1180).
Countries tend to benefit from sharing borders with developed markets as this facilitates trade and development. Below is a table of Romania's neighbouring countries, their GDP per capita, and trade values between the pairs. In 2017, 11.58% of Romanian exports went to its neighbours; while 12.95% of imports came from these five countries. For comparison, Germany alone accounted for 23% of Romania's exports and 20.1% of its imports.[61]
| Country | GDP per capita, (current US$) 2022[62] | Difference in % |
|---|---|---|
| Hungary | 18,390 | +16.5 |
| Romania | 15,786 | |
| Bulgaria | 13,974 | −11.5 |
| Serbia | 9,537 | −39.6 |
| Moldova | 5,714 | −63.8 |
| Ukraine | 4,534 | −71.3 |
In 2022, the economically active population was of 8270.8 thousand persons, of which 94.4% were employed persons and 5.6% unemployed.[63]
The employment rate of working age population (15-64 years) was 63.1%, having higher values for men (71.5%, as against 54.4% for women) and urban area (68.6% in urban area, as against 56.3% in rural area). 19.7% of young people (aged 15-24 years) and 46.7% of elderly people (aged 55-64 years) were employed. The employment rate for persons aged 15-64 was higher for those with superior level of education (89.5%) than for those with medium level (64.6%) and those with low education (36.6%). The employment rate for the population aged 20-64 years was 68.5%. Employment rate had higher values for men (77.7% as against only 59.1% for women) and for persons in urban area (74.0% as against 61.8% for persons in rural area).[64]
The unemployment rate was 5.6%. By gender, the gap between the two rates was 1.0 percentage point (6.0% for men as against 5.0% for women), while by residential area it was 5.7 percentage points (8.9% for rural area as compared to 3.2% for urban area). The unemployment rate had the highest level (22.8%) among young people (aged 15-24 years). The unemployment affects to a greater extent the graduates of medium and low level of education, for which the unemployment rate was 5.2%, respectively 14.2% higher as compared with the rate registered for unemployed with superior level of education (1.7%).[63]
Note: Counties highlighted in purple on the map had long-term unemployment rates below 3% in March 2023, those in blue fell within the range of 3% to 5%, counties in orange fell within the range of 5% to 7%, and counties in red had unemployment rates of 7% and above.[65]
According to the latest monthly report of the National Institute of Statistics in Romania, the average monthly salary in August 2025 was 9,002 lei (1,777 euros) gross or 5,387 lei (1,063 euros) net.[66]
Note: Counties highlighted in purple on the map had an average net monthly salary (after tax) of €1000 and above in June 2025, those in blue fell within the range of €999 to €850, and counties in orange had average net monthly salaries below €850.[67]
The minimum gross wage in the Romanian economy amounts to RON 4050 (≈EUR 814) from 1 January 2025. The same minimum wage applies to employees with a seniority of over 15 years.[68]
In 2021, the medianwealth per adult in Romania was estimated by Credit Suisse at USD20,389. Average wealth per adult was USD 42,351.[69]
35% of the 15.1 million Romanian adults had a wealth of less than USD 10,000. This is an improvement from 40% in 2018.[69]
Romania is a popular tourist destination, with more than 15.7 million domestic and foreign tourists in 2018.
Romania's tourism took a great hit during the 2020COVID-19 pandemic, with a drop of as much as 68.7% of foreign visitors in 2020, but it's beginning to recover in 2022.[70]
Romania has cities of great cultural interest (Sibiu,Bucharest,Constanța,Brașov,Iași,Timișoara,Cluj-Napoca,Alba Iulia,Oradea), beaches and seaside resorts, ski resorts, and well-preserved rural regions appreciated for their beauty and tranquillity. Romania is also the destination of many religiouspilgrimages, hosting several thousands visitors each year.[71][72]
Theleu (pronounced[ˈlew]), plural:lei ([ˈlej]); (ISO 4217 code RON; numeric code 946), "leo" (lion) in English is the currency of Romania. It is subdivided into 100bani (singular:ban). On 1 July 2005, Romania underwent a currency reform, switching from the previous leu (ROL) to a new leu (RON). 1 RON is equal to 10,000 ROL. Romania joined the European Union on 1 January 2007 and initially hoped to adopt theeuro in 2014,[73] but with the deepening of theEuro area crisis and with its own problems, such as a lowworkforce productivity, postponed its adoption plans indefinitely.[74]
As of April 2025, 1 RON is worth about 0.2006 EUR and US$0.2278.[75]
Romania, as a member state of the European Union, is required to adopt the common European currency, theEuro. For this reason Romania must fulfil the fiveMaastricht criteria, of which it met none as of June 2020.
| Assessment month | Country | HICP inflation rate[76][nb 1] | Excessive deficit procedure[77] | Exchange rate | Long-terminterest rate[78][nb 2] | Compatibility of legislation | ||
|---|---|---|---|---|---|---|---|---|
| Budget deficit toGDP[79] | Debt-to-GDP ratio[80] | ERM II member[81] | Change in rate[82][83][nb 3] | |||||
| 2025ECB Report[nb 4] | Reference values | Max. 2.8%[nb 5] (as of April 2025) | None open (as of 19 May 2025) | Min. 2 years (as of 19 May 2025) | Max. ±15%[nb 6] (for 2024) | Max. 5.1%[nb 5] (as of April 2025) | Compliant[nb 7] | |
| Max. 3.0% (Fiscal year 2024)[84] | Max. 60% (Fiscal year 2024)[84] | |||||||
Romania is an oil and gas producer. The pipeline network in Romania included 2,427 km forcrude oil, 3,850 km forpetroleum products, and 3,508 km for natural gas in 2006. Several major new pipelines are planned, especially theNabucco Pipeline forCaspian oilfields, the longest one in the world. Romania could cash in four billion dollars from theConstanta-Trieste pipeline.[91]
Romania has considerable[vague] natural resources for a country of its size, includingcoal, iron ore, copper,chromium,uranium,antimony,mercury, gold,barite,borate,celestine (strontium),emery,feldspar,limestone,magnesite,marble,perlite,pumice,pyrites (sulfur),clay,arable land andhydropower.[42]
Energy needs are also met by importingbituminous andanthracite coal and crude petroleum. In 2019 over 21 million metric tonnes of coal, an estimated 1300 tonnes ofzinc, 460,000 tonnes ofalumina and 3.4 million tonnes ofcrude steel were mined. Lesser amounts of copper, lead, gold, silver andkaolin were also mined.[92]
The energy sector is dominated bystate-owned companies such asTermoelectrica,Hidroelectrica andNuclearelectrica.Fossil fuels are the country's primary source of energy, followed byhydroelectric power.
Due to dependency on oil and gas imports from Russia, the country has placed an increasingly heavy emphasis onnuclear energy since the 1980s. TheCernavodă Nuclear Power Plant is the only one of its kind in Romania, although there are plans to build a second one in Transylvania, possibly after 2020.[93]
For domestic heating and cooking 48% of rural and small-town households use directly burned solid fuel (almost exclusively domestically produced wood) as the main energy source.[94]
Wind power had an installed capacity of 76 MW in 2008,[95] and 3028 MW in 2016.[96] The country has the largest wind power potential in Southeast Europe, withDobruja listed as the second-best place in Europe to constructwind farms.[97] As a result, there are currently[when?] investor connection requests for over 12,000 MW.[98] There are also plans to build a number ofsolar power stations, such as the Covaci Solar Park, which will be one of the largest in the world.[99][100]
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The volume of traffic in Romania, especially goods transportation, has increased in recent years due to its strategic location in South-East Europe. In the past few decades, much of the freight traffic shifted from rail to road. A further strong increase of traffic is expected in the future.
As of 11 July 2025, there are1,314.472 km of highways in service (of which1,181.435 km motorways and133.037 km expressways),[101] with another753.882 km with signed contracts in various stages of execution, and another669.3 km being tendered (29 May 2025).[102][103]
Bucharest is the only city in Romania which has anunderground railway system, comprising both theBucharest Metro and thelight rail system managed byRegia Autonomă de Transport București. Although construction was planned to begin in 1941, due to geo-political factors, the Bucharest Metro was only opened in 1979. The Bucharest Metro system is 80.1 kilometres (49.8 mi) long and has64 stations.[104] The Bucharest Metro has five lines (M1,M2,M3,M4, andM5). The newest metro line, M5, was opened in 2020.[105] A sixth metro line,M6 line, is currently under construction. A second metro system, theCluj-Napoca Metro, is under construction.
In 2022, the sector with the highest number of companies registered in Romania is Services with 351,621 companies followed by Retail Trade with 239,404 companies.[106]
Romania has become a natural gas exporter.[107] Romanian Scientist, Lazar Edeleanu, had managed, for the first time in the world, to refine oil based products with sulphur dioxide, in other words separation from the oil of some hydrocarbon groups, without their chemical alteration.[108]
Agriculture employs about 26% of the population (one of the highest rates in Europe) and contributes about 4.3% of GDP.[109][110] TheBărăgan is characterized by large wheat farms. Dairy products, pork, poultry, and apple production are concentrated in the western region.
Beef production is located in central Romania, while the production of fruits, vegetables, and wine ranges from central to southern Romania. Romania is a large producer of many agricultural products and is currently expanding its forestry and fishery industries. The implementation of the reforms and theUruguay Round of theGeneral Agreement on Tariffs and Trade (GATT) have resulted in reforms in the agricultural sector of the economy.
Fishing is an economic mainstay in parts of eastern Romania and along the Black Sea coast, with important fish markets in places such asConstanta,Galați andTulcea. Fish such asEuropean anchovy, sprat,pontic shad,mullet, goby, whiting,garfish,Black-Sea Turbot orhorse mackerel are landed at ports such asConstanta.
There has been a large scale decrease in employment in the fishing industry within Romania due to the EU'sCommon Fisheries Policy, which places restrictions on the total tonnage of catch that can be landed, caused by overfishing in theBlack Sea. Along with the decline of sea-fishing, commercialfish farms – especially insalmon, have increased in prominence in the rivers andlochs of the east of Romania. Inland waters are rich in fresh water fish such as salmon,trout, and in particular, carp which traditionally has been the most popular fish, including its eggs (icre), fresh or canned.
Romania has been successful in developing its industrial sector in recent years. Industry and construction accounted for 32% of gross domestic product (GDP) in 2003, a comparatively large share even without taking into account related services. The sector employed 26.4% of the workforce. Romania excels in the production ofautomobiles,machine tools, and chemicals. In 2013, some 410,997automobiles were produced in Romania, up from 78,165 in 2000. As of 2018, the turnover generated by Romania's automobile industry was estimated at 28 billion Euros, with 230,000 Romanians employed in the sector.[111]
In 2004 Romania enjoyed one of the largest world market share in machine tools (5.3%).[112] Romanian-based companies such asDacia,Petrom,Rompetrol,Bitdefender,Romstal andMobexpert have expanded operations throughout the region. However, small- to medium-sized manufacturing firms form the bulk of Romania's industrial sector.
Industrial output growth was 6.9% year-on-year in December 2009, making it the highest in the EU-27 zone which averaged −1.9%.[113]
Romania has the third-highest percentage of women working in information and communications technologies (ICT) in Europe. 29% of their workforce is made up of women.[55]
In 2003 theservice sector constituted 55% of gross domestic product (GDP), and employed 51.3% of the workforce. The subcomponents of services are financial, renting, and business activities (20.5%); trade, hotels and restaurants, and transport (18%); and other service activities (21.7%). The service sector in Romania has expanded in recent years, employing some 47% of Romanians and accounting for slightly more than half of GDP.
The largest employer is the retail sector, employing almost 12% of Romanians. The retail industry is mainly concentrated in a relatively small number of chain stores clustered together in shopping malls. In recent years the rise ofbig-box stores, such asCora (hypermarket) (of France) andCarrefour (a French subsidiary), have led to fewer workers in this sector and a migration of retail jobs to the suburbs.
Romania is aggressively promoting and developing its biotechnology industry. Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Romania. Romania features one of the world's newest competitive bio-industries, in key areas as pharmacogenomics, protein engineering, glyco-engineering, tissue engineering, bio-informatics, genome medicine and preventive medicine. Romania is devoting substantial resources to developing universities and R&D facilities, increasing biotech startups, growing bio-clusters (communities of biotechnology companies and institutions) and developing human resources, all with the goal of making it one of the world's most advanced biotechnology regions.[citation needed]
The strength of the Romanian economy varies from region to region. PPP, and GDP per capita is the highest in Bucharest. The following table shows the highest GDP per capita of the other 4 counties, with data supplied byCNP.[114][citation needed]
| Rank | County | GDP per capita (2022)[115] (EUR) |
|---|---|---|
| 1 | Bucharest | 57,189 |
| 2 | Timiș | 29,996 |
| 3 | Constanța | 27,608 |
| 4 | Cluj | 25,682 |
| 5 | Brașov | 23,908 |
| 6 | Arad | 21,000 |
The highest GDP per capita is found in Bucharest and surroundingIlfov County. Values well above the national average are found inTimiș,Argeș,Brașov,Cluj,Constanța,Arad,Sibiu andPrahova. Values well below the national average are found in:Vaslui,Botoșani,Călărași,Neamț,Vrancea,Suceava,Giurgiu,Mehedinți,Olt andTeleorman.[114]
In 2017, Romania's largest trading partner was Germany, followed by Italy. Romania's main imports and exports are electrical machinery, motor vehicles & parts and industrial machinery.[61] While Romania imports substantial quantities of grain, it is largely self-sufficient in other agricultural products and food stuffs, due to the fact that food must be regulated for sale in the Romania retail market, and hence imports almost no food products from other countries.[116]
Romania imported in 2006 food products of 2.4 billion euros, up almost 20% versus 2005, when the imports were worth slightly more than 2 billion euros. The EU is Romania's main partner in the trade with agri-food products. The exports to this destination represent 64%, and the imports from the EU countries represent 54%. Other important partners are theCEFTA countries, Turkey, Republic of Moldova and the USA.[116] Despite a decline of the arms industry in the post-communist era, Romania is a significant exporter of military equipment, accounting for 3–4% of the world total in 2007. EU members are represented by a single official at theWorld Trade Organization.
During the first trimester of 2010, Romanian exports increased by 21%, one of the largest rates in the European Union. The trade deficit stood at roughly 2 billion EUR, the eighth largest in the EU.[117] The annual trade deficit has widened every year since 2014, standing at about EUR 18.77B in 2020.[118]
Households with access to fixed and mobile telephone access[119]
Broadband penetration rate
Individuals using computer and internet[119]
General:
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