Includes Romania real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Romania economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Romania best banks and safest banks are also available.
Basic Information
Government Type: Semi-presidential republic
Capital City: Bucharest
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | National Bank of Romania |
---|---|
Currency | Lei (RON) |
International Reserves |
USD 51.91 billion (2021) International Monetary Fund (IMF), data retrieved January 2022 |
Gross Domestic Product – GDP |
USD 287.28 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 653.90 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 7.3% 2018 4.5% 2019 4.1% 2020* -3.9% 2021* 7% *Estimate |
---|---|
GDP per capita – current prices |
USD 14,863.89 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 33,833.10 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total | 0.45% (2021 estimate) |
GDP – composition by sector |
agriculture: 4.3% industry: 28.2% services: 57.8% (2020 estimate) |
Gross domestic expenditure on R&D; (% of GDP) |
0.5% (2019) OECD, retrieved January 2022 |
Inflation |
2017 1.3% 2018 4.6% 2019 3.8% 2020* 2.6% 2021* 4.3% *Estimate |
Romania
Inflation & Debt
Inflation |
2017 1.3% 2018 4.6% 2019 3.8% 2020* 2.6% 2021* 4.3% *Estimate |
---|---|
Government Bond Ratings |
Standard & Poor’s: BBB– Moody’s: Baa3 Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017 4.9% 2018 4.2% 2019 3.9% 2020* 5% 2021* 4.9% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015 36.8% 2016 36.5% 2017 36.8% 2020* 49.8% 2021* 51.1% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015 –1.7% 2016 –1.5% 2017 –3.5% 2020* -8.3% 2021* -5.2% *Estimate |
Market value of publicly traded shares |
USD 25.5 billion (2020) World Bank / Market capitalization |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
37.3% (2020) World Bank – World Development Indicators (updated Feb 2022) |
---|---|
Shares in world total merchandising export |
0.4% (2020) United Nations Conference on Trade and Development (UNCTAD) |
Shares in world total commercial services export |
0.5% (2020) |
Total exports |
USD 92.8 billion (2020 estimate) United Nations Conference on Trade and Development (UNCTAD) |
Export commodities | Cars and vehicle parts, insulated wiring, refined petroleum, electrical control boards, seats (2019) |
Total imports | USD 103.9 billion (2020 estimate) |
Import commodities | Cars and vehicle parts, crude petroleum, packaged medicines, insulated wiring, broadcasting equipment (2019) |
Exports – major partners | Germany 22%, Italy 10%, France 7% (2019) |
Imports – major partners | Germany 19%, Italy 9%, Hungary 7%, Poland 6%, China 5%, France 5% (2019) |
Competitiveness & Trade
Current account balance |
USD -16.4 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
---|---|
Current account balance by percentage of GDP |
-5.7% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2019 USD 6.2 billion 2020 USD 5.8 billion 2021 USD 2.3 billion |
FDI Outflows |
2019 USD 379 million 2020 USD 363 million 2021 USD 202 million |
Value of cross-border M&A, by country of purchaser |
2018 USD 6.3 million 2019 USD 3.4 million 2020 USD 1.3 million 2021 N/A |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 55 out of 190 countries Subcategories: Starting a Business: 91 out of 190 countries Dealing with Construction Permits: 147 out of 190 countries Getting Electricity: 157 out of 190 countries Registering Property: 46 out of 190 countries Getting Credit: 25 out of 190 countries Protecting Minority Investors: 61 out of 190 countries Paying Taxes: 32 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 19 out of 190 countries Resolving Insolvency: 56 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking |
43 out of 141 (2019) World Economic Forum / Global competitiveness ranking |
Index of Economic Freedom |
Ranking: 47 / Score: 67.1 (Moderately Free) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Total Area |
238,391 sq km |
---|---|
Total Population |
1990 23.2 Million 2000 22.4 Million 2010 20.2 Million 2015 19.8 Million 2020 19.3 Million |
Urban population as % of total population |
1960 34.2% 1980 46.1% 2000 53% 2020 54.2% |
Population median age |
42.5 (2022 estimate) CIA World Factbook / Population median age |
Population growth rate | -1.09% (2022 est.) |
Life expectancy |
75.8 years (2022 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day | 4.1% (last available estimate, 2019) |
Inequality of wealth distribution (Gini index) |
34.8 (last available estimate, 2019) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Total score: 83/100 Status: Free Political Rights: 35/40 Civil Liberties: 48/60 (2022) |
Total telephone subscribers as % of population |
Fixed: 15.7% Mobile: 117.4% (2020) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 78.5% (2020) |
Language & Religon
Languages | Romanian (official) 85.4%, Hungarian 6.3%, Romani 1.2%, other 1%, unspecified 6.1% (2011 est.) |
---|---|
Literacy |
Total population: 98.8% Male: 99.1% Female: 98.6% (2018) Definition: age 15 and over can read and write |
Religions | Eastern Orthodox (including all sub-denominations) 81.9%, Protestant (various denominations including Reformed and Pentecostal) 6.4%, Roman Catholic 4.3%, other (includes Muslim) 0.9%, none or atheist 0.2%, unspecified 6.3% (2011 est.) |
World Rankings
Population | 19.3 million |
---|---|
Mercer Cost of living index | N/A |
C02 Emissions per capita | 3.8 metric tons per capita (2018) |
Global Finance Rankings & Awards: Romania
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000