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Romania flag Romania:

Romanian Market : Main sectors

Romania has a labour force of 8.89 million people out of its 19.3 million population, though this number has been decreasing over the last decade due to the massive migration of Romanian workers to Western European countries. Agriculture represents around 3.8% of Romania's GDP and employs 21.2% of the country's active population (World Bank, latest data available). The main resources and agricultural production in Romania are cereals, sugar beets and potatoes. However, production remains very low in comparison with the country's potential capacity (more than one-third of the land is arable). About 25% of the country is covered by forest (especially around Transylvania), and the logging industry is developing very fast. Romania has a limited energy dependence thanks to coal, oil, gas and uranium reserves. According to data from Eurostat, Romania became the seventh-biggest agricultural producer in the European Union; nevertheless, the impact of the COVID-19 pandemic was heavy, with the sector recording the biggest decline in the EU in 2020 (-11.3.% -Eurostat).

The industrial sector contributes to 26.4% of the country's GDP and employs 30.1% of the active population. Thanks to inexpensive labour, its industry is diversified and competitive. Historically, manufacturing companies and the industrial sector represent the backbone of Romania's economy. For this reason, foreign direct investors are involved in heavy industry (metallurgy, steel), the manufacturing of vehicle parts, building and construction, petroleum refining and textiles. According to figures by the World Bank, the manufacturing sector alone contributes 15.7% of GDP. Data from the national statistical office show that in the first eleven months of 2021 industrial production increased by 7.5% year-on-year; nevertheless, it was still 3.4% lower than in 2019.

Romania's economy is mainly centred on the services sector, which represents 59% of the GDP and employs around 48.7% of the nation's workforce. Tourism, in particular, has been booming in recent years, reaching an all-time high of 13.26 million in 2019. After an unprecedented drop in tourism arrivals in 2020 due to the COVID-19 global restrictions, in 2021 the number of tourists increased by 46% y-o-y, although it was still 29.3% lower than before the pandemic (INSEE). The technology sector has also seen consistent growth in recent years, due to the emergence of a high-qualified workforce whose cost is lower than the European average. Romania's ITC sector accounts for around 6% of GDP (Romanian Software Industry Association).

 
 

Main Products

71.1 bn USD of products exported in 2020
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 8.7%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 7.6%
Insulated incl. enamelled or anodised wire, cable...Insulated incl. enamelled or anodised wire, cable incl. coaxial cable and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made-up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 5.1%
Boards, panels, consoles, desks, cabinets and...Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 8535 or 8536, for electric control or the distribution of electricity, incl. those incorporating instruments or apparatus of chapter 90, and numerical control apparatus (excl. switching apparatus for line telephony or line telegraphy) 3.7%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber 2.2%
See More Products 72.7%
92.1 bn USD of products imported in 2020
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 4.2%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 2.5%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 2.2%
See More Products 85.0%

Source: Comtrade, Latest Available Data

 
 
Breakdown of Economic Activity By Sector Agriculture Industry Services
Employment By Sector (in % of Total Employment) 21.2 30.1 48.7
Value Added (in % of GDP) 3.8 26.4 59.0
Value Added (Annual % Change) -16.2 -5.5 6.0

Source: World Bank - Latest available data.

 

Find more information about your business sector on our service Market Studies.

 
Type of Production
For the resources for businesses on managing the manufacturing and the supply chain risk due to the outbreak of the Covid19 pandemic, please consult the report COVID-19: Managing supply chain risk and disruption (Deloitte Canada, 2020), as well as the insights on COVID-19: How to fortify your supply chain (Kearney, 2020).
The World Economic Forum's COVID Action Platform provides useful information on the latest strategic trends regarding COVID-19 implications for businesses, including manufacturing and supply systems. The report Outbreak Readiness and Business Impact (World Economic Forum in collaboration with the Harvard Global Health Institute) offers insights on handling coronavirus by businesses and strategies for effective response and resilience.

In Romania, industry represents more than 40% of the GDP and less than 30% of employment. Main industrial sectors include equipment and electrical machinery, textiles and footwear, automobile assembly, construction materials, metallurgy and oil refining.

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Latest Update: July 2022