Economy of Romania

Economy of Romania
	Bucharest, the economic capital of Romania, is a financial and technology center.
Currency	Leu (RON, L)
Fiscal year	Calendar year
Trade organisations	EU, WTO and BSEC
Country group	Developing/Emerging; High-income economy; European (EU) economy;
Statistics
Population	19,064,409 (2024)
GDP	$406.2 billion (nominal; 2025 est.); $940.52 billion (PPP; 2025 est.);
GDP rank	39th (nominal, 2025); 35th (PPP, 2025);
GDP growth	4.8% (2022); 2.2% (2023); 2.8% (2024);
GDP per capita	$21,570 (nominal, 2025 est.); $49,940 (PPP, 2025 est.);
GDP per capita rank	54th (nominal, 2025); 44th (PPP, 2025);
GDP by sector	agriculture: 4.47%; industry: 28.88%; services: 57.61%; (2022);
Inflation (CPI)	5.3% (2024)
Population below poverty line	17% (OECD, 2022) -- set at 50% of the national median household income.; 32.0% at risk of poverty or social exclusion (AROPE 2023);
Gini coefficient	31.0 medium (2023)
Human Development Index	0.827 very high (2022) (53rd); 0.739 high IHDI (46th) (2022);
Corruption Perceptions Index	46 out of 100 points (2023, 63rd)
Labour force	8.214 million (2021); 68.7% employment rate (2023);
Labour force by occupation	agriculture: 3.1%; industry & constr.: 35.7%; services: 61.2%; (2021);
Unemployment	5.6% (2024)
Average gross salary	RON 9,251 / €1,858 / $1,945 monthly (December 2024)
Average net salary	RON 5,645 / €1,134 / $1,187 monthly (December 2024)
Main industries	Electric machinery and equipment, auto assembly, textiles and footwear, light machinery, metallurgy, chemicals, food processing, petroleum refining, mining, timber, construction materials.
External
Exports	$88.3 billion (2021); $73 billion (2020); $81.1 billion (2019);
Export goods	Electrical machines and equipment; transport vehicles and materials; Metals and metal articles; Plastic and rubber materials; Vegetable products; Footwear, textiles and hats; Food products, drinks and tobacco; Optical, photographic, cinematographic and surgical devices; Chemical and mineral products; Wood products (furniture); Livestock and animal products; Paper; Stone, plaster and ceramic articles; Leather, furs, fats and oils; Refined petroleum; Other.
Main export partners	Germany 18.9%; Italy 9.61%; Hungary 6.79%; France 5.76%; Bulgaria 3.92%; Poland 3.65%; Netherlands 3.35%; Turkey 3.18%; United Kingdom 3.12%; Spain 2.91% (2022);
Imports	$116.4 billion (2021); $90.2 billion (2020); $94.9 billion (2019);
Import goods	Electrical machines and equipment; Mechanical appliances, nuclear reactors, boilers, and parts thereof; Vehicles other than railway or tramway rolling stock, and parts & accessories thereof; Mineral fuels, mineral oils and products of their distillation; Plastics and articles thereof; Pharmaceutical products; Iron, steel & articles thereof; Optical, photographic, cinematographic instruments and apparatus; Miscellaneous chemical products; Crude petroleum; Others.
Main import partners	Germany 19.1%; Italy 9.06%; Hungary 6.5%; Poland 6.3%; China 6.1%; Turkey 5.05%; France 4.3%; Bulgaria 3.9%; Netherlands 3.8%; Austria 3.3% (2021);
FDI stock	€100.288 / $114.068 billion (31 Dec 2021); Abroad: €2.793 / $3.177 billion (31 Dec 2021);
Current account	−7.1% of GDP (2024e); −$27.238 billion (2024e);
Gross external debt	€137.2 / $143.8 billion (30 June 2022)
Public finances
Government debt	53% of GDP (April 2024); RON 614.3 billion (May 2022);
Foreign reserves	$78.969 billion (Sep 2024) (32rd)
Budget balance	−7.1% of GDP (2024); USD −26.292 billion (2024);
Revenues	31.04% of GDP (2024); RON 201.804 billion (2024);
Expenses	36.82% of GDP (2024); RON 140.994 billion (2024);
Economic aid	€30.84 billion from European Structural and Investment Funds (2014–2020);
Credit rating	Standard & Poor's (2024):; BBB− (Domestic); A-3 (Foreign); A− (T&C Assessment); Outlook: Stable; Moody's (2024):; Baa3; Outlook: Stable; Fitch (2024):; BBB−; Outlook: Stable; Scope (2024):; BBB−; Outlook: Stable;
	All values, unless otherwise stated, are in US dollars.

The economy of Romania is a developing mixed economy, with a high degree of complexity. It ranks 12th in the European Union by total nominal GDP and 7th largest when adjusted by purchasing power (PPP). The World Bank notes that Romania's efforts are focused on accelerating structural reforms and strengthening institutions in order to further converge with the European Union. The country's economic growth has been one of the highest in the EU since 2010, with 2022 seeing a better-than-expected 4.8% increase.

In recent years, it witnessed growth rates such as: 4.8% in 2016, 7.1% in 2017, 4.4% in 2018 and 4.1% in 2019. In 2020, its GDP per capita in purchasing power standards reached 72% of the European Union average, up from 44% in 2007, the highest growth rate in the EU27. Romania's economy ranks 35th in the world by its total GDP (PPP), with a Int$784 billion annual output (2023 est.).

The country is a leading destination in Central and Eastern Europe for foreign direct investment: the cumulative FDI since 1989 totals more than $170 billion. Romania is the largest electronics producer in the region. In the past 20 years Romania has also grown into a major center for mobile technology, information security, and related hardware research. The country is a regional leader in fields such as IT and motor vehicle production. Bucharest, the capital city, is one of the leading financial and industrial centres in Eastern Europe.