View source for Economy of Romania

{{Short description|none}}
{{Use dmy dates|date=October 2020}}
{{Infobox economy
| country = Romania
| image = Bucharest Business District.jpg
| image_size = 320px
| caption = [[Bucharest]], the financial center of [[Romania]]
| currency = [[Romanian leu]] (RON)
| year = [[Calendar year]]
| organs = [[European Union|EU]], [[World Trade Organization|WTO]] and [[Organization of the Black Sea Economic Cooperation|BSEC]]
| group = {{plainlist|
*[[Developing country]]<ref>{{cite web |url=https://www.imf.org/en/publications/weo/weo-database/2025/april/groups-and-aggregates |title=Groups and Aggregates Information |publisher=[[International Monetary Fund]] |website=imf.org |access-date=30 November 2025 |archive-url=https://web.archive.org/web/20250629114607/https://www.imf.org/en/publications/weo/weo-database/2025/april/groups-and-aggregates |archive-date=29 June 2025 |url-status=live }}</ref>
*[[World Bank high-income economy|High-income economy]]<ref name="WB2">{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=30 November 2025 |archive-url=https://web.archive.org/web/20191028223324/https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |archive-date=28 October 2019 |url-status=live }}</ref>
*European (EU) economy<ref name="CIARO"/>}}
| population = {{DecreaseNeutral}} 19,036,031 (2025)<ref>{{cite web |url=https://insse.ro/cms/sites/default/files/com_presa/com_pdf/poprez_ian2025r.pdf |title=Populaţia rezidentă la 1 Ianuarie 2025 |publisher=National Institute of Statistics |access-date=30 November 2025|language=ro}}</ref>
| gdp = {{plainlist|
* {{increase}} $422.51 billion ([[GDP (nominal)|nominal]]; 2025)<ref name="IMFWEORO">{{cite web |url=https://www.imf.org/external/datamapper/profile/ROU|title=World Economic Outlook Database, October 2024. Romania |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=23 October 2024}}</ref>
* {{growth}} $919.88 billion ([[Purchasing power parity|PPP]]; 2025)<ref name="IMFWEORO"/>}}
| gdp rank = {{plainlist|
* [[List of countries by GDP (nominal)|41th (nominal, 2025)]]
* [[List of countries by GDP (PPP)|35th (PPP, 2025)]]}}
| per capita = {{plainlist|
* {{increase}} $22,440 (nominal, 2025)<ref name="IMFWEORO"/>
* {{increase}} $48,850 (PPP, 2025)<ref name="IMFWEORO"/>}}
| per capita rank = {{plainlist|
* [[List of countries by GDP (nominal) per capita|54th (nominal, 2025)]]
* [[List of countries by GDP (PPP) per capita|45th (PPP, 2025)]]}}
| growth = {{plainlist|
* 2.4% (2023)<ref name="IMFWEORO"/>
* 0.8% (2024)<ref name="IMFWEORO"/>
* 1.0% (2025)<ref name="IMFWEORO"
/>
}}
| sectors = {{plainlist|
* [[Primary sector of the economy|agriculture]]: 3.3%
* [[Secondary sector of the economy|industry]]: 25%
* [[Tertiary sector of the economy|services]]: 62.5% 
* (2024)<ref name="CIARO"/>}}
| components = 
| inflation = 8.5% (2025)<ref name="IMFWEORO"/>
| poverty = {{plainlist|
*{{steady}} 21.1% (2022)<ref name="CIARO"/>}}
| hdi = {{plainlist|
* {{increase}} 0.845 {{color|darkgreen|very high}} (2023)<ref name="UNHDR">{{Cite web |date=6 May 2025 |title=Human Development Report 2025 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2025reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20250506051232/https://hdr.undp.org/system/files/documents/global-report-document/hdr2025reporten.pdf |archive-date=6 May 2025 |access-date=6 May 2025 |publisher=[[United Nations Development Programme]]}}</ref> ([[List of countries by Human Development Index|55rd]])
* {{increase}} 0.758 {{color|darkgreen|high}} [[List of countries by inequality-adjusted HDI|IHDI (46th)]] (2023)<ref>{{cite web |url=https://hdr.undp.org/data-center/specific-country-data#/countries/ROU |title=Human Development Reports: Romania. IHDI–Inequality-adjusted HDI |publisher=[[United Nations Development Programme|UNDP]] |website=hdr.undp.org |access-date=30 November 2025}}</ref>}}
| gini = {{decreasePositive}} 29.8 {{color|green|low}} (2023)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.GINI |title=Gini index |publisher=[[World Bank]] |website=worldbank.org}}</ref>
| cpi = {{steady}} 46 out of 100 points (2024, [[Corruption Perceptions Index|65rd]])
| labor = {{plainlist|
* {{increase}} 7.742 million (2025)<ref name="insse">{{cite web |url=https://insse.ro/cms/sites/default/files/field/publicatii/balanta_fortei_de_munca_la_1_ianuarie_2025.pdf |title=Publicații statistice în format electronic |website=insse.ro |publisher=[[National Institute of Statistics (Romania)]] |language=ro}}</ref>
*{{increase}} 69.5% employment rate (2024)<ref>{{cite web |url=https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Employment_-_annual_statistics |title=Employment rate by sex, age group 20-64 |publisher=[[Eurostat]] |website=ec.europa.eu/eurostat |access-date=30 November 2025}}</ref>}}
| occupations = {{plainlist|
* [[Primary sector of the economy|agriculture]]: 11.4%
* [[Secondary sector of the economy|industry & constr.]]: 23.0%
* [[Tertiary sector of the economy|services]]: 65.5%
* (2025)<ref name="insse"/>}}
| unemployment = {{decreasePositive}} 5.9% (2025)<ref name="IMFWEORO"/>
| average gross salary = [[List of European countries by average wage|RON 9,078 / €1,783 / $2,061]] monthly (November 2025)<ref name="INS">{{cite web |url=https://insse.ro/cms/sites/default/files/com_presa/com_pdf/cs09r25.pdf |title=CÂŞTIGUL SALARIAL MEDIU BRUT |website=insse.ro |publisher=[[Institutul Național de Statistică]] |language=ro |date=12 November 2025 |access-date=30 November 2025}}</ref>
| average net salary = [[List of European countries by average wage|RON 5,443 / €1,069 / $1,236]] monthly (November 2025)<ref name="INS"/>
| industries = [[Electric machinery]] and [[Electrical equipment|equipment]], auto assembly, textiles and footwear, light machinery, [[metallurgy]], [[chemicals]], [[food processing]], [[petroleum refining]], mining, timber, [[construction materials]].<ref name="CIARO">{{cite CIA World Factbook |country=Romania |year=2023}}</ref>
| exports = {{plainlist|

* {{decrease}} $100.31 billion (2024)<ref name="unctad">{{cite web |title=General profile: Romania |url=https://unctadstat.unctad.org/CountryProfile/GeneralProfile/en-GB/642/index.html |website=unctad.org |publisher=[[United Nations]] |access-date=6 December 2025}}</ref>
}} ([[List of countries by exports|40th]])
| export-goods = {{Collapsible list|[[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]], [[Movie camera|cinematographic]] and [[surgical]] devices|[[Chemical]] and [[mineral]] products|[[Wood]] products ([[furniture]])|[[Livestock]] and [[animal products]]|[[Paper]]|[[Stone]]|[[plaster]] and [[ceramic]] articles|[[Leather]], [[furs]], [[Fat|fats]] and [[oils]]|Refined [[petroleum]]<ref name="CIARO"/><ref>{{cite web |url=https://panorama.ro/exporturi-romania-industrii/ |title=Noi producem, ei cumpără. Ce și cât exportă România (2020) |publisher=Panorama - Business of Tomorrow |website=panorama.ro |date=28 June 2021 |language=ro |accessdate=21 July 2022}}</ref><ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/export/rou/all/show/2020/ |title=What does Romania export? (2020) |publisher=The Observatory of Economic Complexity |website=oec.world |language=en |accessdate=21 July 2022}}</ref>
}}
| export-partners = {{plainlist|
* {{flag|Germany}} 18.9%
* {{flag|Italy}} 9.61%
* {{flag|Hungary}} 6.79%
* {{flag|France}} 5.76%
* {{flag|Bulgaria}} 3.92%
* {{flag|Poland}} 3.65%
* {{flag|Netherlands}} 3.35%
* {{flag|Turkey}} 3.18%
* {{flag|United Kingdom}} 3.12%
* {{flag|Spain}} 2.91% (2022)<ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/export/rou/show/all/2021/ |title=Where does Romania export to? (2021) |publisher=OEC - The Observatory of Economic Complexity |website=oec.world |language=en |accessdate=6 April 2023}}</ref>
}}
| imports = {{plainlist|
* {{decreasepositive}} $136.41 billion (2024)<ref name="unctad"/> ([[List of countries by imports|38th]])
}}
| import-goods = {{Collapsible list|[[Electrical machines]] and equipment|[[Machine|Mechanical]] appliances, [[nuclear reactors]], [[boilers]], and parts thereof|[[Vehicles]] other than [[railway]] or [[Tram|tramway]] rolling stock, and parts & accessories thereof|[[Mineral fuels]], [[Mineral oil|mineral oils]] and products of their distillation|[[Plastics]] and articles thereof|[[Pharmaceutical products]]|[[Iron]], [[steel]] & articles thereof|[[Optical]], [[photographic]], [[Movie camera|cinematographic instruments]] and apparatus|Miscellaneous [[chemical]] products|Crude [[petroleum]]<ref name="CIARO"/><ref>{{cite web |url=https://www.statista.com/statistics/1100543/imported-products-romania/ |title=Main products imported by Romania in 2020, by value |publisher=[[Statista]] |website=statista.com |language=en |accessdate=22 July 2022}}</ref><ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/import/rou/all/show/2020/ |title=What does Romania import? (2020) |publisher=The Observatory of Economic Complexity |website=oec.world |language=en |accessdate=22 July 2022}}</ref>
}}
| import-partners = {{plainlist|
* {{flag|Germany}} 19.1%
* {{flag|Italy}} 9.06%
* {{flag|Hungary}} 6.5%
* {{flag|Poland}} 6.3%
* {{flag|China}} 6.1%
* {{flag|Turkey}} 5.05%
* {{flag|France}} 4.3%
* {{flag|Bulgaria}} 3.9%
* {{flag|Netherlands}} 3.8%
* {{flag|Austria}} 3.3% (2021)<ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/import/rou/show/all/2021/ |title=Where does Romania import from? (2021) |publisher=OEC - The Observatory of Economic Complexity |website=oec.world |language=en |access-date=6 April 2023}}</ref>}}
| current account = {{plainlist|
* −8% of GDP (2025)<ref name="IMFWEORO"/>
* −$33.675 billion (2025)<ref name="IMFWEORO"/>}}
| FDI = {{plainlist|
* {{increase}} €100.288 / $114.068 billion (31 Dec 2021)<ref>{{cite web |url=https://www.bnr.ro/PublicationDocuments.aspx?icid=9403 |title=Investiţiile străine directe în România - raport anual 2021. PDF report, p. 8 |publisher=[[National Bank of Romania]] |website=bnr.ro  |language=ro |date=20 September 2022 |access-date=17 October 2022}}</ref>
* {{increase}} Abroad: €2.793 / $3.177 billion (31 Dec 2021)<ref>{{cite web |url=https://www.bnr.ro/PublicationDocuments.aspx?icid=9403 |title=Investiţiile străine directe în România - raport anual 2021. PDF report, p. 23 |publisher=[[National Bank of Romania]] |website=bnr.ro  |language=ro |date=20 September 2022 |access-date=17 October 2022}}</ref>}}
| gross external debt = € 221.2 billion (2025)<ref>{{cite web|url=https://www.bnr.ro/25034-2025-11-13-balanta-de-plati-si-datoria-externa-septembrie-2025 |title=Balanța de plăți și datoria externă – septembrie 2025 |website=bnr.ro |publisher=[[National Bank of Romania]] |access-date=30 November 2025}}</ref>
| debt = {{plainlist|
* 61.2% of GDP (2025)<ref name="IMFWEORO"/>
* $258.58 billion (2025)}}
| revenue = {{plainlist|
* 31.04% of GDP (2024)<ref name="IMFWEORO"/>
* $131.15 billion (2024)}}
| expenses = {{plainlist|
* 36.62% of GDP (2024)<ref name="IMFWEORO"/>
* $154.72. billion (2024)}}
| balance = {{plainlist|
* −8% of GDP (2024)<ref name="IMFWEORO"/>
* $−33.675 billion (2024)}}
| aid = {{plainlist|
*€30.84 billion from [[European Structural and Investment Funds]] (2014–2020)<ref>{{Cite web |url=https://ec.europa.eu/regional_policy/sources/policy/what/investment-policy/esif-country-factsheet/esi_funds_country_factsheet_ro_en.pdf |title=European Structural and Investment Funds |access-date=5 March 2025}}</ref>}}
| credit = {{plainlist|
* [[Standard & Poor's]] (2025):<ref>{{cite web |url=https://www.mfinante.gov.ro/static/10/Mfp/buget/sitebuget/RatinghistoryRomania%20S&P_RO07112025.pdf |title=Standard & Poor's – Istoric evaluare risc suveran |publisher=[[Ministry of Public Finance (Romania)]] |website=mfinante.gov.ro |language=ro |accessdate=30 November 2025}}</ref>
* BBB− (Domestic)
* A-3 (Foreign)
* A− (T&C Assessment)
* Outlook: Negative
----
* [[Moody's]] (2025):<ref>{{cite web |url=https://www.mfinante.gov.ro/static/10/Mfp/buget/sitebuget/RatinghistoryRomaniaMoodys_RO07112025.pdf |title=Moody's - Istoric evaluare risc suveran |publisher=[[Ministry of Public Finance (Romania)]] |website=mfinante.gov.ro |language=ro |access-date=30 November 2025}}</ref>
* Baa3
* Outlook: Negative
----
* [[Fitch Group|Fitch]] (2025):<ref>{{cite web |url=https://www.mfinante.gov.ro/static/10/Mfp/buget/sitebuget/RatinghistoryRomaniaFitch_RO07112025.pdf |title=Fitch - Istoric evaluare risc suveran |publisher=[[Ministry of Public Finance (Romania)]] |website=mfinante.gov.ro |language=ro |access-date=30 November 2025}}</ref>
* BBB−
* Outlook: Negative
}}
| reserves = € 65.347 billion (2025)<ref>{{cite web|url=https://www.bnr.ro/24986-2025-11-03-rezervele-internationale-octombrie-2025 |title=Rezervele internaționale - octombrie 2025 |website=bnr.ro |publisher=[[National Bank of Romania]] |access-date=30 November 2025}}</ref> ([[List of countries by foreign-exchange reserves|33rd]])
| spelling = 
}}
[[Romania]] has a [[high-income]] [[market economy]] that has achieved rapid convergence toward [[European Union]] standards since joining in 2007, with [[per capita income]] rising from 26% of the EU average in 2000 to 78% by 2024, driven by [[foreign direct investment]] in [[manufacturing]] and [[Service economy|services]] amid post-communist reforms.<ref>{{Cite web |title=Romania and World Bank Group Renew Partnership to Reduce Inequality, Boost Competitiveness, and Accelerate the Green Transition |url=https://www.worldbank.org/en/news/press-release/2024/09/19/romania-and-world-bank-group-renew-partnership-to-reduce-inequality-boost-competitiveness-accelerate-green-transition |website=worldbank.org |date=19 September 2024 |access-date=30 November 2025 |language=en}}</ref>

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 as [[automotive industry]], [[information technology]] outsourcing, and [[agriculture]], though constrained by weak private investment and a widening [[trade deficit]].<ref>{{cite web |title=World Economic Outlook Database, October 2025 |url=https://www.imf.org/external/datamapper/profile/ROU |website=imf.org |publisher=International Monetary Fund |access-date=30 November 2025}}</ref><ref name="WB3">{{cite web |title=The World Bank in Romania |url=https://www.worldbank.org/en/country/romania/overview |website=worldbank.org |publisher=World Bank Group |access-date=30 November 2025}}</ref><ref>{{cite web |title=2024 Country Report - Romania |url=https://economy-finance.ec.europa.eu/document/download/dcac26a0-120e-4233-88b6-8c7b0d919257_en?filename=SWD_2024_623_1_EN_Romania.pdf |website=economy-finance.ec.europa.eu |publisher=European Commission |access-date=30 November 2025}}</ref>

Key achievements include sustained [[employment]] expansion and innovation in high-value industries, yet defining challenges persist, including high fiscal [[deficits]] projected at 8.6% of GDP in 2025, [[corruption]] hindering institutional efficiency, and significant labor [[emigration]] exacerbating skills shortages and demographic pressures.<ref>{{cite web |title=Economic forecast for Romania |url=https://economy-finance.ec.europa.eu/economic-surveillance-eu-member-states/country-pages/romania/economic-forecast-romania_en |website=economy-finance.ec.europa.eu |publisher=European Commission |access-date=30 November 2025}}</ref><ref name="WB3"/>

==History==
===Before World War II===
Prior to [[Unification of Moldova and Romania|unification]] in 1859, the economies of [[Wallachia]] and [[Moldavia]] were predominantly agrarian, with [[agriculture]] employing the vast majority of the population and serving as the primary source of exports, particularly cereals shipped via the [[Danube]] to [[Western Europe]].<ref name="xix">{{cite web |title=The Romanian Economy in the Second Half of the XIX Century |url=https://journals.univ-danubius.ro/index.php/oeconomica/article/download/1733/1444 |website=univ-danubius.ro |publisher=Ștefan Gheorghe |access-date=2 December 2025}}</ref> [[Oil extraction]] began in rudimentary form in the mid-19th century, with the first systematic refinery operational near [[Ploiești]] by 1857, marking Romania as the site of the world's inaugural recorded [[petroleum production]] of approximately 275 tonnes annually.<ref>{{cite web |title=Brief history of oil & gas industry in Romania |url=https://www.speromania.org/wp-content/uploads/2023/05/Brief-history-of-oil-and-gas-industry-in-Romania.pdf |website=speromania.org |publisher=D. GHERGHICEANU, PhD |access-date=2 December 2025}}</ref><ref>{{cite web |title="Ulei Română" During World War II and Beyond: Development of the Romanian Oil Industry |url=https://yris.yira.org/essays/ulei-romana-during-world-war-ii-and-beyond-development-of-the-romanian-oil-industry/ |website=yira.org |date=11 October 2014 |publisher=James Gadea |access-date=2 December 2025}}</ref> Following [[Romanian War of Independence|independence]] in 1878 and the establishment of the Kingdom in 1881, [[foreign direct investment]] primarily from [[Germany]], [[France]], and [[United Kingdom]] fueled early resource extraction, though the economy remained overwhelmingly rural, with limited [[infrastructure]] and social relations stunted by feudal legacies.<ref name="xix"/>

Modern industrialization accelerated from 1886 onward, driven by legislative incentives like the 1887 mining law that encouraged [[foreign capital]] while prioritizing extractive sectors.<ref name="revecon">{{cite web |title=THE START UP OF MODERN INDUSTRY IN ROMANIA – 1886-1914 |url=https://revecon.ro/articles/2008-1/2008-1-10.pdf |website=revecon.ro |publisher=Victor AXENCIUC |access-date=2 December 2025}}</ref> 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 and [[electricity generation]] capacity rising from 851 kW in 1888 to 61,657 kW by 1913.<ref name="revecon"/> By 1913, Romania's [[GDP per capita]] reached 1,253 USD (in 2000 [[Purchasing power parity]] terms), with [[agriculture]] comprising 56% of goods [[value added]] and [[manufacturing]] 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.<ref name="uni-muechen">{{cite web |title=Gross Domestic Product – National Income of Romania 1862 – 2010. Secular statistical series and methodological foundations |url=https://mpra.ub.uni-muenchen.de/84614/1/MPRA_paper_84614.pdf |website=mpra.ub.uni-muenchen.de |publisher=Axenciuc, Victor and Georgescu, George |access-date=2 December 2025}}</ref>

The [[interwar period]], following territorial expansion into [[Greater Romania]] after [[World War I]] which tripled the land area and increased the population to about 18 million saw initial recovery hampered by war devastation and [[hyperinflation]], 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.<ref name="revecon2">{{cite web |title=The kitchin cycles of interwar Romania's economy |url=https://revecon.ro/articles/2021-2/2021-2-1.pdf |website=revecon.ro |publisher=Florin Marius PAVELESCU |access-date=2 December 2025}}</ref><ref name="uni-muechen"/> [[Agriculture]] retained dominance, contributing 37.82% of [[value 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 by [[extraction of petroleum]] that doubled from pre-war levels by 1924 and overtook cereals as the leading [[export]] by 1930.<ref name="revecon2"/><ref>{{cite web |title=FACTS AND FIGURES REGARDING THE ROMANIAN OIL INDUSTRY UNTIL 1948 |url=https://www.utgjiu.ro/revista/ec/pdf/2018-SPECIAL/12_Bulearca.pdf |website=utgjiu.ro |publisher=MARIUS BULEARCĂ, PH.D. and CĂTĂLIN POPESCU, Ph.D. |access-date=2 December 2025}}</ref><ref>{{cite web |title=Romania during the Interwar Period: an Economic Approach |url=https://rejournal.eu/sites/rejournal.versatech.ro/files/articole/2018-12-19/3540/5-final-70-stoenescu.pdf |website=rejournal.eu |publisher=Camil-George Stoenescu |access-date=2 December 2025}}</ref> The [[Great 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 and [[bilateral trade]] deals emphasizing [[raw material]] exports.<ref name="revecon2"/> These foundations rooted in agrarian [[exports]], [[oil]] dependency, and nascent [[heavy industry]] positioned Romania as a peripheral [[European economy]] reliant on foreign capital and vulnerable to global shocks.<ref name="uni-muechen"/>

=== Communist period ===
{{Anchor|Economy during 1944–1989}}
{{main|Economy of the Socialist Republic of Romania}}
After 1945, Soviet-occupied Romania became a member of the [[Eastern Bloc]] and switched to a [[Soviet-type economic planning|Soviet-style]] [[command economy]]. During this period the country experienced rapid [[industrialisation]] 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.<ref>Klepper, Nicolae. ROMANIA An Illustrated History. NY:Hippocrene Books, Inc., 2002, page 230</ref>

Romania's debt was completely paid off during the 1980s by implementing [[Austerity in Romania|severe austerity measures]] which deprived Romanians of basic consumer goods. In 1989, before the [[Romanian Revolution]], Romania had a GDP of about 800 billion lei, or $53.6 billion.<ref name="cp2010-01-02">[http://standard.money.ro/articol_111865/dupa_douazeci_de_ani__economia_romaniei_in_1989.html După douăzeci de ani. Economia României în 1989] {{webarchive|url=https://web.archive.org/web/20091224142319/http://standard.money.ro/articol_111865/dupa_douazeci_de_ani__economia_romaniei_in_1989.html |date=24 December 2009 }}, 21 decembrie 2009, standard.ro, accesat la 2 ianuarie 2010</ref> Around 58% of the country's gross national income came from industry, and another 15% came from agriculture.<ref name="cp2010-01-02" /> The minimum wage was 2,000 lei, or approx. $57.<ref name="cp2010-01-02" />

=== Free market transition ===
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<ref name="cia.gov"/> estimated by the [[National Bank of Romania|BNR]] at coming within 6% for the year 2006 (the year-on-year [[consumer price index|CPI]], 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<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2004.html|archive-url=https://web.archive.org/web/20070613003440/https://www.cia.gov/library/publications/the-world-factbook/fields/2004.html|url-status=dead|archive-date=13 June 2007|title=GDP – per capita (PPP)|access-date=16 September 2014}}</ref> and $14,064.<ref>Data refer to the year 2008. [http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP_PPP.pdf PPP GDP 2008] & [http://siteresources.worldbank.org/DATASTATISTICS/Resources/POP.pdf Population 2008], World Development Indicators database, [[World Bank]], 15 September 2009. Note: Per capita values were obtained by dividing the PPP GDP data by the Population data.</ref>

Romania was the largest U.S. trading partner in Central-Eastern Europe until [[Nicolae Ceaușescu]]'s 1988 renunciation of [[Most 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 an [[Association Agreement]] with the EU in 1992 and a free trade agreement with the [[European 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&nbsp;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 the [[Paris Club]] of wealthy creditor nations to forgive Iraqi debts.<ref>{{cite web|url=https://business24.ro/international/irak/romania-isi-va-recupera-datoriile-din-irak-82882 |title=Romania isi va recupera datoriile din Irak |trans-title=Romania will Forgive Iraqi Debts |lang=ro |website=business24.ro |access-date=24 September 2017 |date=12 September 2006 }}</ref>

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|date=December 2009}} 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 the [[value-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 bank [[Banca 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 the [[2008 financial crisis]] and contracted in 2009.<ref>{{cite web|url=http://www.seeurope.net/?q=node/16430|title=Index of /|access-date=3 March 2015}}</ref>

After communism, Romania needed [[Capital (economics)|capital]] infusion, [[Entrepreneurship|entrepreneurial]] and managerial skills, the fastest way to obtain that was through foreign direct investment (FDI).<ref>{{Cite web|url=https://mises.org/quarterly-journal-austrian-economics/better-red-transition-communism-coca-cola-romania |access-date=12 July 2024 |title=A Better Red: The Transition from Communism to Coca-Cola in Romania|date=13 April 2019|website=[[Mises Institute]]}}</ref> As of 2018, total FDI in Romania was 81&nbsp;billion EUR, 63% of total (51&nbsp;billion) are [[Greenfield project|greenfield 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%).<ref>{{Cite web|url=https://www.bnr.ro/PublicationDocuments.aspx?icid=14364|title=Foreign Direct Investment|website=[[National Bank of Romania]]|url-status=dead|archive-url=https://web.archive.org/web/20200728114650/https://www.bnr.ro/PublicationDocuments.aspx?icid=14364|archive-date=28 July 2020}}</ref>

===Investments in Romania===
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.<ref>{{cite web|url=http://ec.europa.eu/europe2020/pdf/csr2015/cr2015_romania_en.pdf|title=The European Semester|website=European Commission – European Commission|access-date=24 September 2017}}</ref>

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.<ref>{{Cite book |last=Bank |first=European Investment |url=https://www.eib.org/en/publications/20230288-cesee-bls-2023-h2 |title=Central, Eastern and South-Eastern Europe (CESEE) Bank Lending Survey: Second half of 2023 |date=2023-12-06 |publisher=European Investment Bank |isbn=978-92-861-5622-9 |language=EN}}</ref>

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.<ref name=":208">{{Cite book |last=Bank |first=European Investment |url=https://www.eib.org/en/publications/20240079-eib-group-activity-in-eu-cohesion-regions-2023 |title=EIB Group activities in EU cohesion regions 2023 |date=2024-07-15 |publisher=European Investment Bank |isbn=978-92-861-5761-5 |language=EN}}</ref> 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<ref name=":2083">{{Cite book |last=Bank |first=European Investment |url=https://www.eib.org/en/publications/20240079-eib-group-activity-in-eu-cohesion-regions-2023 |title=EIB Group activities in EU cohesion regions 2023 |date=2024-07-15 |publisher=European Investment Bank |isbn=978-92-861-5761-5 |language=EN}}</ref><ref>{{Cite web |last=Bank |first=European Investment |date=2023-04-19 |title=Evaluation of EIB Project Advisory Support in Bulgaria and Romania |url=https://www.eib.org/en/publications/20220205-eib-project-advisory-support-in-bulgaria-and-romania |language=EN}}</ref>

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.<ref name=":2083" />

===EU membership (2007)===
{{Main|Romania and the euro}}

{{Euro accession map}}
On 1 January 2007 Romania and Bulgaria entered the EU, giving the Union access to the [[Black 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 enormous [[List of countries by current account balance|current account deficits]]. Low [[interest rate]]s guarantee availability of funds for investment and consumption. For example, a boom in the [[real 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 a [[flat 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.<ref>{{cite web|url=http://www.business-review.eu/news/eurostat-romania-posts-biggest-economic-growth-in-eu-in-2016-q2-115455|title=Eurostat: Romania posts biggest economic growth in EU in 2016 Q2|date=12 August 2016|website=Business-Review.eu|access-date=24 September 2017}}</ref> 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.<ref name="qz.com">{{cite web|url=https://qz.com/763630/one-of-the-poorest-countries-in-the-eu-could-be-its-next-tech-startup-hub/|title=One of the poorest countries in the EU could be its next tech-startup hub|website=QZ.com|date=23 August 2016 |access-date=24 September 2017}}</ref> 

== Economy ==
===GDP===
IMF for 2022 (October) published the following data:<ref>{{Cite web |date=April 2022 |title=Report for Selected Countries and Subjects |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=968,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2020&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1|access-date=2022-07-25 |website=IMF |language=en}}</ref>

{| class="wikitable"
|-
! 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.<ref name="tiger">{{cite web |last=Străuţ |first=Dan |title=România, "tigrul" Estului |url=http://www.adevarul.ro/articole/romania-tigrul-estului/354061 |website=[[Adevărul]] |date=3 June 2008 |language=ro |trans-title=Romania, the "Tiger" of the East |archive-url=https://web.archive.org/web/20080920030429/http://www.adevarul.ro/articole/romania-tigrul-estului/354061 |archive-date=20 September 2008}}</ref> Romania is a country of considerable economic potential:  over 10 million hectares of agricultural land, diverse energy sources (coal, oil, natural gas, [[hydroelectricity|hydro]], [[nuclear power|nuclear]], and [[wind power|wind]]), a substantial, if aging, manufacturing base and opportunities for expanded development in tourism on the Black Sea and in the mountains.

===Investments===
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).<ref>{{Cite web | url=https://www.romania-insider.com/investments-romanian-economy-first-half-2018/ |title = Investments in Romanian economy, up 5.8% in the first half of this year|date = 10 September 2018}}</ref>

In the same year (2018) foreign direct investment (FDI) was 81 billion, 63% (51 billion) being "green field"

=== Data ===
The following table shows the main economic indicators in 1980–2022 (with IMF staff estimates in 2023–2028). Inflation under 5% is in green.<ref>{{Cite web|url=https://www.imf.org/en/Publications/WEO/weo-database/2023/April/weo-report?c=968,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LUR,GGXWDG_NGDP,&sy=1980&ey=2028&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1|title=Report for Selected Countries and Subjects|website=www.imf.org|language=en-US|access-date=2023-05-28}}</ref>
{| class="wikitable" style="text-align:center;"
!Year
!GDP<br /><small>(in Bil. US$ PPP)</small>
!GDP per capita<br /><small >(in US$ PPP)</small>
!GDP<br /><small>(in Bil. US$ nominal)</small>
!GDP per capita<br /><small >(in US$ nominal)</small>
!GDP growth<br /><small>(real)</small>
!Inflation rate<br /><small>(in Percent)</small>
!Unemployment <br /><small>(in Percent)</small>
!Government debt<br /><small>(in % of GDP)</small>
|-
|1980
|114.1
|5,087
|46.1
|2,052
|{{Increase}}3.3%
|{{Increase}}1.5%
|{{n/a}}
|{{n/a}}
|-
|1981
|{{Increase}}125.1
|{{Increase}}5,541
|{{Increase}}55.3
|{{Increase}}2,450
|{{Increase}}0.1%
|{{Increase}}2.2%
|{{n/a}}
|{{n/a}}
|-
|1982
|{{Increase}}138.0
|{{Increase}}6,084
|{{Increase}}55.4
|{{Decrease}}2,441
|{{Increase}}3.9%
|{{IncreaseNegative}}16.9%
|{{n/a}}
|{{n/a}}
|-
|1983
|{{Increase}}152.0
|{{Increase}}6,674
|{{Decrease}}48.4
|{{Decrease}}2,125
|{{Increase}}6.0%
|{{Increase}}4.7%
|{{n/a}}
|{{n/a}}
|-
|1984
|{{Increase}}167.0
|{{Increase}}7,300
|{{Decrease}}39.1
|{{Decrease}}1,710
|{{Increase}}6.0%
|{{decreasePositive}}−0.3%
|{{n/a}}
|{{n/a}}
|-
|1985
|{{Increase}}172.0
|{{Increase}}7,490
|{{Increase}}48.3
|{{Increase}}2,101
|{{Decrease}}−0.1%
|{{decreasePositive}}−0.2%
|4.0%
|{{n/a}}
|-
|1986
|{{Increase}}179.7
|{{Increase}}7,783
|{{Increase}}52.3
|{{Increase}}2,264
|{{Increase}}2.4%
|{{Increase}}0.7%
|{{decreasePositive}}3.9%
|{{n/a}}
|-
|1987
|{{Increase}}185.7
|{{Increase}}7,994
|{{Increase}}58.5
|{{Increase}}2,517
|{{Increase}}0.8%
|{{Increase}}1.1%
|{{decreasePositive}}3.7%
|{{n/a}}
|-
|1988
|{{Increase}}191.2
|{{Increase}}8,191
|{{Increase}}60.5
|{{Increase}}2,593
|{{Decrease}}−0.5%
|{{Increase}}2.6%
|{{Steady}}3.7%
|{{n/a}}
|-
|1989
|{{Decrease}}187.2
|{{Decrease}}7,990
|{{Decrease}}54.2
|{{Decrease}}2,314
|{{Decrease}}−5.8%
|{{Increase}}0.9%
|{{decreasePositive}}3.4%
|{{n/a}}
|-
|1990
|{{Decrease}}183.3
|{{Decrease}}7,814
|{{Decrease}}38.5
|{{Decrease}}1,641
|{{Decrease}}−5.6%
|{{IncreaseNegative}}127.9%
|{{Steady}}3.4%
|{{n/a}}
|-
|1991
|{{Decrease}}165.0
|{{Decrease}}7,045
|{{Decrease}}29.1
|{{Decrease}}1,241
|{{Decrease}}−12.9%
|{{IncreaseNegative}}161.1%
|{{IncreaseNegative}}3.5%
|{{n/a}}
|-
|1992
|{{Decrease}}154.0
|{{Decrease}}6,599
|{{Decrease}}19.8
|{{Decrease}}847
|{{Decrease}}−8.8%
|{{IncreaseNegative}}210.4%
|{{IncreaseNegative}}5.4%
|{{n/a}}
|-
|1993
|{{Increase}}160.0
|{{Increase}}6,896
|{{Increase}}26.6
|{{Increase}}1,147
|{{Increase}}1.5%
|{{IncreaseNegative}}256.1%
|{{IncreaseNegative}}9.2%
|{{n/a}}
|-
|1994
|{{Increase}}169.9
|{{Increase}}7,365
|{{Increase}}30.4
|{{Increase}}1,317
|{{Increase}}3.9%
|{{IncreaseNegative}}136.7%
|{{IncreaseNegative}}11.0%
|{{n/a}}
|-
|1995
|{{Increase}}185.8
|{{Increase}}8,105
|{{Increase}}35.8
|{{Increase}}1,563
|{{Increase}}7.1%
|{{IncreaseNegative}}32.3%
|{{decreasePositive}}9.9%
|{{n/a}}
|-
|1996
|{{Increase}}196.7
|{{Increase}}8,627
|{{Decrease}}35.7
|{{Increase}}1,565
|{{Increase}}3.9%
|{{IncreaseNegative}}38.8%
|{{decreasePositive}}7.3%
|{{n/a}}
|-
|1997
|{{Decrease}}188.0
|{{Decrease}}8,289
|{{Decrease}}35.6
|{{Increase}}1,571
|{{Decrease}}−6.1%
|{{IncreaseNegative}}154.8%
|{{IncreaseNegative}}7.9%
|{{n/a}}
|-
|1998
|{{Decrease}}180.9
|{{Decrease}}8,018
|{{Increase}}42.6
|{{Increase}}1,885
|{{Decrease}}−4.8%
|{{IncreaseNegative}}59.1%
|{{IncreaseNegative}}9.6%
|{{n/a}}
|-
|1999
|{{Increase}}181.4
|{{Increase}}8,076
|{{Decrease}}36.0
|{{Decrease}}1,600
|{{Decrease}}−1.2%
|{{IncreaseNegative}}45.8%
|{{decreasePositive}}7.2%
|{{n/a}}
|-
|2000
|{{Increase}}190.9
|{{Increase}}8,501
|{{Increase}}37.4
|{{Increase}}1,667
|{{Increase}}2.9%
|{{IncreaseNegative}}45.7%
|{{IncreaseNegative}}7.6%
|29.5%
|-
|2001
|{{Increase}}205.1
|{{Increase}}9,145
|{{Increase}}40.4
|{{Increase}}1,800
|{{Increase}}5.1%
|{{IncreaseNegative}}34.5%
|{{decreasePositive}}7.4%
|{{decreasePositive}}27.4%
|-
|2002
|{{Increase}}220.2
|{{Increase}}10,083
|{{Increase}}46.0
|{{Increase}}2,108
|{{Increase}}5.7%
|{{IncreaseNegative}}22.5%
|{{IncreaseNegative}}8.3%
|{{decreasePositive}}27.3%
|-
|2003
|{{Increase}}229.7
|{{Increase}}10,620
|{{Increase}}57.8
|{{Increase}}2,672
|{{Increase}}2.3%
|{{IncreaseNegative}}15.4%
|{{decreasePositive}}7.8%
|{{decreasePositive}}24.9%
|-
|2004
|{{Increase}}260.1
|{{Increase}}12,091
|{{Increase}}75.1
|{{Increase}}3,487
|{{Increase}}10.3%
|{{IncreaseNegative}}11.9%
|{{IncreaseNegative}}8.0%
|{{decreasePositive}}21.3%
|-
|2005
|{{Increase}}280.1
|{{Increase}}13,140
|{{Increase}}98.5
|{{Increase}}4,608
|{{Increase}}4.7%
|{{IncreaseNegative}}9.0%
|{{decreasePositive}}7.1%
|{{decreasePositive}}17.8%
|-
|2006
|{{Increase}}312.9
|{{Increase}}14,718
|{{Increase}}122.1
|{{Increase}}5,744
|{{Increase}}8.0%
|{{IncreaseNegative}}6.6%
|{{IncreaseNegative}}7.2%
|{{decreasePositive}}12.7%
|-
|2007
|{{Increase}}344.5
|{{Increase}}16,301
|{{Increase}}174.8
|{{Increase}}8,273
|{{Increase}}7.2%
|{{Increase}}4.8%
|{{decreasePositive}}6.3%
|{{IncreaseNegative}}12.4%
|-
|2008
|{{Increase}}384.1
|{{Increase}}18,613
|{{Increase}}215.6
|{{Increase}}10,446
|{{Increase}}9.4%
|{{IncreaseNegative}}7.8%
|{{decreasePositive}}5.6%
|{{IncreaseNegative}}13.0%
|-
|2009
|{{Decrease}}365.1
|{{Decrease}}17,861
|{{Decrease}}174.6
|{{Decrease}}8,540
|{{Decrease}}−5.5%
|{{IncreaseNegative}}5.6%
|{{IncreaseNegative}}8.4%
|{{IncreaseNegative}}22.5%
|-
|2010
|{{Decrease}}355.0
|{{Decrease}}17,493
|{{Decrease}}170.3
|{{Decrease}}8,391
|{{Decrease}}−3.9%
|{{IncreaseNegative}}6.1%
|{{IncreaseNegative}}9.0%
|{{IncreaseNegative}}30.2%
|-
|2011
|{{Increase}}378.8
|{{Increase}}18,754
|{{Increase}}192.8
|{{Increase}}9,546
|{{Increase}}4.5%
|{{IncreaseNegative}}5.8%
|{{IncreaseNegative}}9.1%
|{{IncreaseNegative}}32.6%
|-
|2012
|{{Increase}}397.3
|{{Increase}}19,771
|{{Decrease}}179.2
|{{Decrease}}8,919
|{{Increase}}1.9%
|{{Increase}}3.3%
|{{decreasePositive}}8.7%
|{{IncreaseNegative}}36.2%
|-
|2013
|{{Decrease}}393.2
|{{Decrease}}19,641
|{{Increase}}189.8
|{{Increase}}9,481
|{{Increase}}0.2%
|{{Increase}}4.0%
|{{IncreaseNegative}}9.0%
|{{IncreaseNegative}}39.2%
|-
|2014
|{{Increase}}410.8
|{{Increase}}20,592
|{{Increase}}200.0
|{{Increase}}10,025
|{{Increase}}4.1%
|{{Increase}}1.1%
|{{decreasePositive}}8.6%
|{{IncreaseNegative}}40.5%
|-
|2015
|{{Increase}}428.6
|{{Increase}}21,570
|{{Decrease}}177.9
|{{Decrease}}8,951
|{{Increase}}3.2%
|{{decreasePositive}}−0.6%
|{{decreasePositive}}8.4%
|{{decreasePositive}}39.4%
|-
|2016
|{{Increase}}470.9
|{{Increase}}23,831
|{{Increase}}185.3
|{{Increase}}9,378
|{{Increase}}2.9%
|{{decreasePositive}}−1.6%
|{{decreasePositive}}7.2%
|{{IncreaseNegative}}39.5%
|-
|2017
|{{Increase}}530.8
|{{Increase}}27,020
|{{Increase}}210.5
|{{Increase}}10,717
|{{Increase}}8.2%
|{{Increase}}1.3%
|{{decreasePositive}}6.1%
|{{decreasePositive}}37.1%
|-
|2018
|{{Increase}}576.3
|{{Increase}}29,504
|{{Increase}}243.5
|{{Increase}}12,465
|{{Increase}}6.0%
|{{Increase}}4.6%
|{{decreasePositive}}5.2%
|{{decreasePositive}}36.2%
|-
|2019
|{{Increase}}609.2
|{{Increase}}31,379
|{{Increase}}251.0
|{{Increase}}12,928
|{{Increase}}3.8%
|{{Increase}}3.8%
|{{decreasePositive}}4.9%
|{{IncreaseNegative}}36.6%
|-
|2020
|{{Decrease}}594.4
|{{Decrease}}30,751
|{{Increase}}251.7
|{{Increase}}13,021
|{{Decrease}}−3.7%
|{{Increase}}2.6%
|{{IncreaseNegative}}6.1%
|{{IncreaseNegative}}49.4%
|-
|2021
|{{Increase}}657.5
|{{Increase}}34,245
|{{Increase}}285.6
|{{Increase}}14,874
|{{Increase}}5.9%
|{{IncreaseNegative}}5.0%
|{{decreasePositive}}5.6%
|{{IncreaseNegative}}51.1%
|-
|2022
|{{Increase}}737.3
|{{Increase}}38,721
|{{Increase}}301.8
|{{Increase}}15,851
|{{Increase}}4.8%
|{{IncreaseNegative}}13.8%
|{{Steady}}5.6%
|{{decreasePositive}}48.7%
|-style="background:#b7e4f0"
|2023
|{{Increase}}783.9
|{{Increase}}41,633
|{{Increase}}348.9
|{{Increase}}18,530
|{{Increase}}2.4%
|{{IncreaseNegative}}10.5%
|{{Steady}}5.6%
|{{decreasePositive}}48.3%
|-style="background:#b7e4f0"
|2024
|{{Increase}}830.5
|{{Increase}}44,484
|{{Increase}}376.7
|{{Increase}}20,175
|{{Increase}}3.6%
|{{IncreaseNegative}}5.8%
|{{decreasePositive}}5.4%
|{{IncreaseNegative}}49.3%
|-style="background:#b7e4f0"
|2025
|{{Increase}}878.0
|{{Increase}}47,441
|{{Increase}}405.2
|{{Increase}}21,893
|{{Increase}}3.7%
|{{Increase}}4.2%
|{{decreasePositive}}5.3%
|{{IncreaseNegative}}50.3%
|-style="background:#b7e4f0"
|2026
|{{Increase}}927.5
|{{Increase}}50,509
|{{Increase}}429.7
|{{Increase}}23,398
|{{Increase}}3.7%
|{{Increase}}3.0%
|{{decreasePositive}}5.2%
|{{IncreaseNegative}}51.4%
|-style="background:#b7e4f0"
|2027
|{{Increase}}978.1
|{{Increase}}53,684
|{{Increase}}450.9
|{{Increase}}24,749
|{{Increase}}3.6%
|{{Increase}}2.6%
|{{decreasePositive}}5.1%
|{{IncreaseNegative}}52.8%
|-style="background:#b7e4f0"
|2028
|{{Increase}}1,031.9
|{{Increase}}57,075
|{{Increase}}469.6
|{{Increase}}25,974
|{{Increase}}3.5%
|{{Increase}}2.5%
|{{decreasePositive}}5.0%
|{{IncreaseNegative}}54.2%
|}

===National budget===
The planned [[Government budget|national budget]] for 2017 is 422 billion lei ($103 billion), with an estimated budget deficit to GDP of 1.1%.

===Growing middle class===
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.<ref>{{cite web|url=http://siteresources.worldbank.org/INTECA/Resources/257896-1182288383968/FiscalPolicy&EconomicGrowthinECA_Ch4.pdf|title=See Table 4.1|website=WorldBank.org|access-date=24 September 2017}}</ref> 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).

===Neighbours===
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.<ref name="Romania: Trade Statistics">{{cite web|url=https://globaledge.msu.edu/countries/romania/tradestats|title=Romania: Trade Statistics|work=GlobalEDGE|access-date=1 May 2019}}</ref>

{| border="1" class="wikitable"
|-----
! Country
! GDP per capita,<br /> <small>(current US$) 2022<ref>{{cite web|url=https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=HU-RO-BG-MD-UA-RS&name_desc=true|title=GDP per capita (current US$) – Romania, Moldova, Hungary, Serbia, Bulgaria, Ukraine|website=data.WorldBank.org|access-date=4 February 2024}}</ref></small>
! Difference <br /> <small> in %</small>
|- align="right"
! align="left"|Hungary
| 18,390 || +16.5
|- align="right"
! align="left"|Romania
| 15,786
|- align="right"
! align="left"|Bulgaria 
| 13,974 || −11.5
|- align="right"
! align="left"|Serbia 
| 9,537 || −39.6
|- align="right"
! align="left"|Moldova
| 5,714 || −63.8
|- align="right"
! align="left"|Ukraine
| 4,534 || −71.3
|}

==Labour==

In 2022, the economically active population was of 8270.8 thousand persons, of which 94.4% were employed persons and 5.6% unemployed.<ref name="insse.ro"/>

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).<ref name="legislatiamuncii.manager.ro">{{cite web|url=https://legislatiamuncii.manager.ro/a/29499/ins-rata-de-ocupare-a-populatiei-in-varsta-de-munca-a-fost-de-63-1procente-in-cursul-anului-trecut.html|title=INS: RATA DE OCUPARE A POPULATIEI IN VARSTA DE MUNCA A FOST DE 63,1%, IN CURSUL ANULUI TRECUT|website=www.legislatiamuncii.manager.ro|access-date=20 April 2023}}</ref>

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%).<ref name="insse.ro">{{Citation |url=https://insse.ro/cms/sites/default/files/field/publicatii/labour_force_in_romania_2022.pdf |title=Romanian labour force: employment and unemployment in 2022|trans-title=Labour force survey in Romania, 2022 |publisher=National Institute of Statistics (Romania)}}</ref>

{{Image label begin|image=Romania_location_map.svg|width=600}}
{{Image label small|x=1.05|y=0.24||scale=330|text=[[Suceava County|{{font color|black|#F2AF14|5,7}}]]}}
{{Image label small|x=1.23|y=0.17||scale=330|text=[[Botoșani County|{{font color|black|#45B8DB|3,2}}]]}}
{{Image label small|x=1.15|y=0.39||scale=330|text=[[Neamț County|{{font color|black|#45B8DB|4,5}}]]}}
{{Image label small|x=1.33|y=0.33||scale=330|text=[[Iași County|{{font color|black|#45B8DB|3,0}}]]}}
{{Image label small|x=1.23|y=0.53||scale=330|text=[[Bacău County|{{font color|black|#D1A5C2|2,7}}]]}}
{{Image label small|x=1.41|y=0.51||scale=330|text=[[Vaslui County|{{font color|black|#F65555|8,5}}]]}}
{{Image label small|x=1.26|y=0.70||scale=330|text=[[Vrancea County|{{font color|black|#45B8DB|4,2}}]]}}
{{Image label small|x=1.40|y=0.70||scale=330|text=[[Galați County|{{font color|black|#F2AF14|6,0}}]]}}
{{Image label small|x=1.22|y=0.84||scale=330|text=[[Buzău County|{{font color|black|#F2AF14|5,5}}]]}}
{{Image label small|x=1.39|y=0.87||scale=330|text=[[Brăila County|{{font color|black|#45B8DB|3,2}}]]}}
{{Image label small|x=1.55|y=0.90||scale=330|text=[[Tulcea County|{{font color|black|#45B8DB|3,9}}]]}}
{{Image label small|x=1.51|y=1.09||scale=330|text=[[Constanța County|{{font color|black|#D1A5C2|2,3}}]]}}
{{Image label small|x=1.31|y=0.99||scale=330|text=[[Ialomița County|{{font color|black|#F2AF14|5,3}}]]}}
{{Image label small|x=1.29|y=1.07||scale=330|text=[[Călărași County|{{font color|black|#F2AF14|5,3}}]]}}
{{Image label small|x=1.10|y=0.98||scale=330|text=[[Ilfov County|{{font color|black|#D1A5C2|0,5}}]]}}
{{Image label small|x=1.10|y=1.04||scale=330|text=[[București|{{font color|black|#D1A5C2|1,0}}]]}}
{{Image label small|x=1.08|y=1.12||scale=330|text=[[Giurgiu County|{{font color|black|#45B8DB|3,4}}]]}}
{{Image label small|x=0.94|y=1.14||scale=330|text=[[Teleorman County|{{font color|black|#F65555|8,3}}]]}}
{{Image label small|x=0.88|y=0.90||scale=330|text=[[Argeș County|{{font color|black|#45B8DB|3,6}}]]}}
{{Image label small|x=0.99|y=0.92||scale=330|text=[[Dâmbovița County|{{font color|black|#45B8DB|3,2}}]]}}
{{Image label small|x=1.09|y=0.88||scale=330|text=[[Prahova County|{{font color|black|#D1A5C2|2,2}}]]}}
{{Image label small|x=0.81|y=1.09||scale=330|text=[[Olt County|{{font color|black|#F2AF14|6,2}}]]}}
{{Image label small|x=0.66|y=1.11||scale=330|text=[[Dolj County|{{font color|black|#F65555|7,3}}]]}}
{{Image label small|x=0.75|y=0.88||scale=330|text=[[Vâlcea County|{{font color|black|#45B8DB|3,2}}]]}}
{{Image label small|x=0.61|y=0.90||scale=330|text=[[Gorj County|{{font color|black|#45B8DB|3,5}}]]}}
{{Image label small|x=0.53|y=1.01||scale=330|text=[[Mehedinți County|{{font color|black|#F65555|7,3}}]]}}
{{Image label small|x=0.84|y=0.49||scale=330|text=[[Mureș County|{{font color|black|#45B8DB|3,1}}]]}}
{{Image label small|x=1.01|y=0.51||scale=330|text=[[Harghita County|{{font color|black|#45B8DB|4,3}}]]}}
{{Image label small|x=1.09|y=0.67||scale=330|text=[[Covasna County|{{font color|black|#45B8DB|3,9}}]]}}
{{Image label small|x=0.96|y=0.71||scale=330|text=[[Brașov County|{{font color|black|#D1A5C2|2,4}}]]}}
{{Image label small|x=0.78|y=0.68||scale=330|text=[[Sibiu County|{{font color|black|#D1A5C2|2,4}}]]}}
{{Image label small|x=0.65|y=0.61||scale=330|text=[[Alba County|{{font color|black|#45B8DB|3,8}}]]}}
{{Image label small|x=0.65|y=0.45||scale=330|text=[[Cluj County|{{font color|black|#D1A5C2|1,2}}]]}}
{{Image label small|x=0.58|y=0.35||scale=330|text=[[Sălaj County|{{font color|black|#F2AF14|5,2}}]]}}
{{Image label small|x=0.39|y=0.39||scale=330|text=[[Bihor County|{{font color|black|#D1A5C2|1,3}}]]}}
{{Image label small|x=0.51|y=0.22||scale=330|text=[[Satu Mare County|{{font color|black|#45B8DB|3,8}}]]}}
{{Image label small|x=0.70|y=0.22||scale=330|text=[[Maramureș County|{{font color|black|#D1A5C2|2,2}}]]}}
{{Image label small|x=0.81|y=0.33||scale=330|text=[[Bistrița-Năsăud County|{{font color|black|#45B8DB|3,1}}]]}}
{{Image label small|x=0.33|y=0.57||scale=330|text=[[Arad County|{{font color|black|#D1A5C2|1,1}}]]}}
{{Image label small|x=0.25|y=0.71||scale=330|text=[[Timiș County|{{font color|black|#D1A5C2|0,6}}]]}}
{{Image label small|x=0.38|y=0.85||scale=330|text=[[Caraș-Severin County|{{font color|black|#D1A5C2|2,5}}]]}}
{{Image label small|x=0.54|y=0.72||scale=330|text=[[Hunedoara County|{{font color|black|#45B8DB|3,9}}]]}}
{{Image label end}}
{{small|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.<ref name="zf.ro">{{cite web|url=https://www.zf.ro/companii/romania-extremelor-somajului-judetele-ilfov-si-timis-au-o-rata-a-21883123|title=România extremelor şomajului: judeţele Ilfov şi Timiş au o rată a şomajului de sub 1%, iar în Vaslui şi Teleorman depăşeşte 8%|website=www.zf.ro|access-date=19 May 2023}}</ref>}}

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.<ref name="www.insse.ro">{{cite web|url=https://insse.ro/cms/sites/default/files/com_presa/com_pdf/cs08r25.pdf|title=CÂȘTIGUL SALARIAL MEDIU BRUT*) PE ECONOMIE ÎN LUNA AUGUST 2025 A FOST 9002 LEI ȘI CEL NET 5387 LEI|website=www.insse.ro|date=13 October 2025 |access-date=15 October 2025}}</ref>

{{Image label begin|image=Romania_location_map.svg|width=600}}
{{Image label small|x=1.03|y=0.24||scale=330|text=[[Suceava County|{{font color|black|#F2AF14|€834}}]]}}
{{Image label small|x=1.21|y=0.17||scale=330|text=[[Botoșani County|{{font color|black|#F2AF14|€819}}]]}}
{{Image label small|x=1.13|y=0.39||scale=330|text=[[Neamț County|{{font color|black|#45B8DB|€863}}]]}}
{{Image label small|x=1.30|y=0.33||scale=330|text=[[Iași County|{{font color|black|#D1A5C2|€1057}}]]}}
{{Image label small|x=1.20|y=0.53||scale=330|text=[[Bacău County|{{font color|black|#D1A5C2|€1018}}]]}}
{{Image label small|x=1.39|y=0.51||scale=330|text=[[Vaslui County|{{font color|black|#45B8DB|€919}}]]}}
{{Image label small|x=1.24|y=0.70||scale=330|text=[[Vrancea County|{{font color|black|#F2AF14|€833}}]]}}
{{Image label small|x=1.39|y=0.70||scale=330|text=[[Galați County|{{font color|black|#45B8DB|€963}}]]}}
{{Image label small|x=1.20|y=0.84||scale=330|text=[[Buzău County|{{font color|black|#45B8DB|€905}}]]}}
{{Image label small|x=1.37|y=0.87||scale=330|text=[[Brăila County|{{font color|black|#45B8DB|€886}}]]}}
{{Image label small|x=1.53|y=0.90||scale=330|text=[[Tulcea County|{{font color|black|#45B8DB|€899}}]]}}
{{Image label small|x=1.49|y=1.09||scale=330|text=[[Constanța County|{{font color|black|#45B8DB|€967}}]]}}
{{Image label small|x=1.30|y=0.99||scale=330|text=[[Ialomița County|{{font color|black|#45B8DB|€905}}]]}}
{{Image label small|x=1.27|y=1.07||scale=330|text=[[Călărași County|{{font color|black|#45B8DB|€884}}]]}}
{{Image label small|x=1.09|y=0.98||scale=330|text=[[Ilfov County|{{font color|black|#45B8DB|€905}}]]}}
{{Image label small|x=1.09|y=1.04||scale=330|text=[[București|{{font color|black|#D1A5C2|€1397}}]]}}
{{Image label small|x=1.07|y=1.12||scale=330|text=[[Giurgiu County|{{font color|black|#45B8DB|€896}}]]}}
{{Image label small|x=0.93|y=1.14||scale=330|text=[[Teleorman County|{{font color|black|#F2AF14|€843}}]]}}
{{Image label small|x=0.85|y=0.90||scale=330|text=[[Argeș County|{{font color|black|#D1A5C2|€1072}}]]}}
{{Image label small|x=0.98|y=0.92||scale=330|text=[[Dâmbovița County|{{font color|black|#45B8DB|€913}}]]}}
{{Image label small|x=1.08|y=0.88||scale=330|text=[[Prahova County|{{font color|black|#45B8DB|€988}}]]}}
{{Image label small|x=0.80|y=1.09||scale=330|text=[[Olt County|{{font color|black|#45B8DB|€991}}]]}}
{{Image label small|x=0.65|y=1.11||scale=330|text=[[Dolj County|{{font color|black|#45B8DB|€958}}]]}}
{{Image label small|x=0.74|y=0.88||scale=330|text=[[Vâlcea County|{{font color|black|#F2AF14|€818}}]]}}
{{Image label small|x=0.60|y=0.90||scale=330|text=[[Gorj County|{{font color|black|#45B8DB|€930}}]]}}
{{Image label small|x=0.52|y=1.01||scale=330|text=[[Mehedinți County|{{font color|black|#45B8DB|€871}}]]}}
{{Image label small|x=0.83|y=0.49||scale=330|text=[[Mureș County|{{font color|black|#45B8DB|€987}}]]}}
{{Image label small|x=0.99|y=0.51||scale=330|text=[[Harghita County|{{font color|black|#F2AF14|€843}}]]}}
{{Image label small|x=1.07|y=0.67||scale=330|text=[[Covasna County|{{font color|black|#45B8DB|€851}}]]}}
{{Image label small|x=0.94|y=0.71||scale=330|text=[[Brașov County|{{font color|black|#D1A5C2|€1065}}]]}}
{{Image label small|x=0.75|y=0.68||scale=330|text=[[Sibiu County|{{font color|black|#D1A5C2|€1095}}]]}}
{{Image label small|x=0.64|y=0.61||scale=330|text=[[Alba County|{{font color|black|#45B8DB|€934}}]]}}
{{Image label small|x=0.63|y=0.45||scale=330|text=[[Cluj County|{{font color|black|#D1A5C2|€1314}}]]}}
{{Image label small|x=0.56|y=0.35||scale=330|text=[[Sălaj County|{{font color|black|#45B8DB|€913}}]]}}
{{Image label small|x=0.38|y=0.39||scale=330|text=[[Bihor County|{{font color|black|#45B8DB|€925}}]]}}
{{Image label small|x=0.50|y=0.22||scale=330|text=[[Satu Mare County|{{font color|black|#45B8DB|€863}}]]}}
{{Image label small|x=0.69|y=0.22||scale=330|text=[[Maramureș County|{{font color|black|#F2AF14|€849}}]]}}
{{Image label small|x=0.80|y=0.33||scale=330|text=[[Bistrița-Năsăud County|{{font color|black|#45B8DB|€861}}]]}}
{{Image label small|x=0.32|y=0.57||scale=330|text=[[Arad County|{{font color|black|#45B8DB|€996}}]]}}
{{Image label small|x=0.24|y=0.71||scale=330|text=[[Timiș County|{{font color|black|#D1A5C2|€1227}}]]}}
{{Image label small|x=0.36|y=0.85||scale=330|text=[[Caraș-Severin County|{{font color|black|#45B8DB|€931}}]]}}
{{Image label small|x=0.53|y=0.71||scale=330|text=[[Hunedoara County|{{font color|black|#45B8DB|€873}}]]}}
{{Image label end}}
{{small|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.<ref name="stat.gov.rs">{{cite web|url=https://www.zf.ro/eveniment/harta-salariilor-nete-judete-sase-luni-2025-clubul-elitist-22914469|title=Harta salariilor nete pe judeţe la şase luni din 2025: Clubul "elitist" al salariilor nete peste media naţională se restrânge la Bucureşti, Cluj şi Timiş. Creşterile salariale anuale de două cifre au devenit o raritate|website=www.zf.ro|access-date=30 September 2025}}</ref>}}

===Minimum wage in Romania===
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.<ref>{{Cite web |date=2025-01-10 |title=Salariul minim de la 1 ianuarie 2025 |url=https://inspectiamuncii.ro/web/itm-salaj/noutati-itm/-/asset_publisher/6RY3p6MRCQCs/content/10-01-2025-salariul-minim-de-la-1-ianuarie-2025?inheritRedirect=false |access-date=2025-04-12 |website=inspectiamuncii.ro |language=ro}}</ref>

===Wealth per adult===
In 2021, the median [[List of countries by wealth per adult|wealth per adult]] in Romania was estimated by Credit Suisse at USD '''20,389'''. Average wealth per adult was USD 42,351.<ref name="credit-suisse.com">{{cite web |url=https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-databook-2022.pdf |title=Global Wealth Databook 2022 |publisher=Credit Suisse Research Institute |date=October 2022 |access-date=11 January 2023 }}</ref>

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.<ref name="credit-suisse.com"/>

==Tourism==
{{Main|Tourism in Romania}}

Romania is a popular tourist destination, with more than 15.7&nbsp;million domestic and foreign tourists in 2018.

Romania's tourism took a great hit during the 2020 [[COVID-19 pandemic]], with a drop of as much as 68.7% of foreign visitors in 2020, but it's beginning to recover in 2022.<ref>{{Cite news|last=|first=|date=|title=Cum a afectat pandemia turismul românesc: Sosirile vizitatorilor străini au scăzut în iunie cu 68,7% faţă de iunie 2019|work=Ziarul Financiar|url=https://www.zf.ro/eveniment/cum-a-afectat-pandemia-turismul-romanesc-sosirile-vizitatorilor-19460871|access-date=}}</ref>

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 religious [[pilgrimage]]s, hosting several thousands visitors each year.<ref>{{cite journal |last=Giușcă |first=Mădălina |date=23 May 2020 |title=Religious tourism and pilgrimage at Prislop Monastery, Romania: motivations, faith and perceptions |url=https://humangeographies.org.ro/articles/141/a_141_9_giusca.pdf |journal=Human Geographies – Journal of Studies and Research in Human Geography |volume=14 |issue=1 |pages=149–167 |doi=10.5719/hgeo.2020.141.9 |access-date=26 August 2025}}</ref><ref>{{cite journal |last=Ionel |first=Marian |date=2020 |title=Implications of Religious Tourism on the Romanian Tourist Market |url=https://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2021/03/Section%203/26.pdf |journal=Ovidius University Annals: Economic Sciences Series |volume=20 |issue=2 |publisher=[[Ovidius University of Constanța]] |pages=362–367 |access-date=26 August 2025}}</ref>

==Currency==
{{Main|Romanian leu|Romania and the euro}}

[[File:1 leu. Romania, 2005 a.jpg|thumb|right|One new leu bank-note]]
The '''leu''' (pronounced {{IPA|ro|ˈlew|}}), plural: '''lei''' ({{IPA|[ˈlej]}}); ([[ISO 4217]] code RON; numeric code 946), "leo" (lion) in English is the currency of Romania. It is subdivided into 100 ''bani'' (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 the [[euro]] in 2014,<ref>{{cite web|publisher=Hotnews.ro|url=http://english.hotnews.ro/Romania-hopes-to-introduce-euro-in-2014-articol_44196.htm|title=Romania hopes to introduce euro in 2014|date=26 January 2007|access-date=2007-08-14|archive-date=29 September 2007|archive-url=https://web.archive.org/web/20070929111640/http://english.hotnews.ro/Romania-hopes-to-introduce-euro-in-2014-articol_44196.htm|url-status=dead}}</ref> but with the deepening of the [[European sovereign-debt crisis|Euro crisis]] and with its own problems, such as a low [[workforce productivity]], postponed its adoption plans indefinitely.<ref>{{Cite web|author=Banking News|url=http://www.bankingnews.ro/adoptare-euro.html |title=Croitoru (BNR): Adoptarea monedei euro, un orizont indepartat|date=22 June 2012|access-date=22 July 2012}}</ref>

As of April 2025, 1 RON is worth about 0.2006 EUR and US$0.2278.<ref>{{Cite web |title=RON/USD (RONUSD=X) Live Rate, Chart & News - Yahoo Finance |url=https://finance.yahoo.com/quote/RONUSD=X/ |access-date=2025-04-12 |website=finance.yahoo.com |language=en-US}}</ref>

===Fulfillment of the Maastricht criteria===
Romania, as a member state of the European Union, is required to adopt the common European currency, the [[Euro]]. For this reason Romania must fulfil the five [[Maastricht criteria]], of which it met none as of June 2020.

{{trim|{{Euro convergence criteria|TOP}}}}
{{trim|{{Euro convergence criteria|REF}}}}
{{trim|{{Euro convergence criteria|ROU}}}}
{{trim|{{Euro convergence criteria|BOT}}}}

==Natural resources==
{{Main|Mining industry in Romania}}

Romania is an oil and gas producer. The pipeline network in Romania included 2,427&nbsp;km for [[crude oil]], 3,850&nbsp;km for [[petroleum product]]s, and 3,508&nbsp;km for natural gas in 2006. Several major new pipelines are planned, especially the [[Nabucco Pipeline]] for [[Caspian Sea|Caspian]] oilfields, the longest one in the world. Romania could cash in four billion dollars from the [[Pan-European Pipeline|Constanta-Trieste pipeline]].<ref>[https://web.archive.org/web/20121020151549/http://www.highbeam.com/doc/1G1-146685752.html Romania could cash in four billion dollars from the Constanta-Trieste pipeline.] Pumping oil could pay off in Romania as benefits from the Constanta-Trieste pipeline could amount to more than four billion dollars. The benefits could range from 2.27 to 4.39 billion dollars over 20 years, depending on the capacity of the new oleo duct, according to Hill International's feasibility study.</ref>

Romania has considerable{{Vague|date=September 2017}} natural resources for a country of its size, including [[Carbon|coal]], iron ore, copper, [[chromium]], [[uranium]], [[antimony]], [[Mercury (element)|mercury]], gold, [[barite]], [[borate]], [[Celestine (mineral)|celestine]] ([[strontium]]), [[emery (mineral)|emery]], [[feldspar]], [[limestone]], [[magnesite]], [[marble]], [[perlite]], [[pumice]], [[pyrites]] ([[sulfur]]), [[clay]], [[arable land]] and [[hydropower]].<ref name="cia.gov"/>

Energy needs are also met by importing [[bituminous coal|bituminous]] and [[anthracite|anthracite coal]] and crude petroleum. In 2019 over 21 million metric tonnes of coal, an estimated 1300 tonnes of [[zinc]], 460,000 tonnes of [[alumina]] and 3.4 million tonnes of [[crude steel]] were mined. Lesser amounts of copper, lead, gold, silver and [[kaolin]] were also mined.<ref>{{Cite book |last1=Idoine |first1=N. E. |url=https://nora.nerc.ac.uk/id/eprint/534316/1/WMP_2017_2021_FINAL.pdf |title=World Mineral Production, 2017-2021 |last2=Raycraft |first2=E. R. |last3=Price |first3=F. |last4=Hobbs |first4=S. F. |last5=Deady |first5=E. A. |last6=Everett |first6=P. |last7=Shaw |first7=R. A. |last8=Evans |first8=E. J. |last9=A. J. |first9=Mills |publisher=[[British Geological Survey]] |year=2023 |isbn=978-0-85272-797-3 |location=Nottingham, UK |language=en}}</ref>

===Energy===
{{Main|Energy industry in Romania}}

[[File:IJzeren Poort Stuwdam.JPG|thumb|The [[Iron Gate I Hydro Power Plant]], a joint venture between Romania and Serbia]]
The energy sector is dominated by [[state-owned]] companies such as [[Termoelectrica]], [[Hidroelectrica]] and [[Nuclearelectrica]]. [[Fossil fuels]] are the country's primary source of energy, followed by [[hydroelectric power]].

====Nuclear energy in Romania====
Due to dependency on oil and gas imports from Russia, the country has placed an increasingly heavy emphasis on [[Nuclear power|nuclear energy]] since the 1980s. The [[Cernavodă 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.<ref>{{cite web|url=http://www.euractiv.ro/uniunea-europeana/articles%7cdisplayArticle/articleID_12862/Romania-contruieste-a-doua-centrala-nucleara.html|title=Romania contruieste a doua centrala nucleara |publisher=Euractiv.ro|access-date=16 September 2014}}</ref>

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.<ref>{{cite web|url=http://www.cleancookstoves.org/countries/middle-east-and-europe/romania.html|title=Global Alliance for Clean Cookstoves|website=CleanCookstoves.org|access-date=24 September 2017|archive-url=https://web.archive.org/web/20141024132137/http://www.cleancookstoves.org/countries/middle-east-and-europe/romania.html|archive-date=24 October 2014|url-status=dead}}</ref>

Wind power had an installed capacity of 76&nbsp;MW in 2008,<ref>{{cite news|url=http://www.standard.ro/articol_87410_12/avalansa_portugheza__martifer_pregateste_o_achizitie_de_7_mil__euro_pe_eolian_si_un_parc_propriu__edp_primeste_deja_turbinele.html|archive-url=https://web.archive.org/web/20190723123026/http://standard.ro/articol_87410_12/avalansa_portugheza__martifer_pregateste_o_achizitie_de_7_mil__euro_pe_eolian_si_un_parc_propriu__edp_primeste_deja_turbinele.html|url-status=dead|archive-date=23 July 2019|title=Avalansa portugheza: Martifer pregateste o achizitie de 7 mil. euro pe eolian si un parc propriu, EDP primeste deja turbinele|date=1 April 2009|newspaper=Business Standard|language=ro|access-date=2 April 2009}}</ref> and 3028 MW in 2016.<ref name="ewea.org">{{cite web |url=http://www.ewea.org/fileadmin/files/library/publications/statistics/EWEA-Annual-Statistics-2015.pdf |title=Wind in power: 2015 European statistics |date=February 2016 |publisher=The European Wind Energy Association |access-date=16 September 2020 }}</ref> The country has the largest wind power potential in Southeast Europe, with [[Dobruja]] listed as the second-best place in Europe to construct [[wind farms]].<ref name="Dobrogea">{{cite web|url=http://www.evz.ro/articole/detalii-articol/838511/Dobrogea-pe-locul-doi-in-Europa-ca-potential-eolian/|title=Dobrogea, pe locul doi în Europa ca potenţial eolian|date=5 February 2009|publisher=Evenimentul Zilei|language=ro|access-date=2009-02-05|archive-date=25 November 2009|archive-url=https://web.archive.org/web/20091125084344/http://www.evz.ro/articole/detalii-articol/838511/Dobrogea-pe-locul-doi-in-Europa-ca-potential-eolian/|url-status=dead}}</ref> As a result, there are currently{{When|date=September 2017}} investor connection requests for over 12,000 MW.<ref>{{cite web|url=http://www.standard.ro/articol_79546_12/potential_de_investitii_in_eolian_de_peste_4_mld__euro.html|title=Potential de investitii in eolian de peste 4 mld. euro|date=5 February 2009|work=Business Standard|language=ro|access-date=2009-02-05}}{{dead link|date=April 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> There are also plans to build a number of [[Photovoltaic power station|solar power stations]], such as the Covaci Solar Park, which will be one of the largest in the world.<ref name="CJ Timis">{{cite news|url=http://www.standard.ro/articol_96102_12/cj_timis_vrea_sa_construiasca_un_parc_cu_panouri_solare__pe_o_suprafata_de_60_de_hectare.html |title=CJ Timis vrea sa construiasca un parc cu panouri solare, pe o suprafata de 60 de hectare |date=27 May 2009 |newspaper=Business Standard|language=ro |access-date=2009-05-27 }}{{dead link|date=December 2016 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref>{{cite web|url=http://www.administratie.ro/articol.php?id=29056|title=Portalul national de Administratie Publica|access-date=16 September 2014|archive-url=https://web.archive.org/web/20140706141315/http://www.administratie.ro/articol.php?id=29056|archive-date=6 July 2014|url-status=dead}}</ref>

==Physical infrastructure==
[[File:Highways in Romania (detailed).svg|thumb|350px|left|The current situation of motorways and expressways in Romania
{{legenda|green|Completed}}
{{legenda|red|Under construction (including design-build contracts)}}
{{legenda|#B78D4D|Tendered}}
{{legenda|#9AAFFF|Environmental permit issued}}
{{legenda|#C8C8C8|Planned}}]]

{{Main|Transport in Romania|Highways in Romania}}

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 are '''1,314.472&nbsp;km''' of highways in service (of which '''1,181.435&nbsp;km''' motorways and '''133.037&nbsp;km''' expressways),<ref name="CNAIR">{{cite web |title= Motorway (A) and Expressway (DEx) in use [Rețea în trafic - Autostrăzi și Drumuri Expres] |url=http://www.cnadnr.ro/sites/default/files/proiecte/situatia%20proiectelor%20autostrazi_0.pdf |last=1,275.47 Km (2024-12-23) [7.9 Km of the official total are not yet in use] |publisher=Ministry of Transportation - Romania (CNAIR) |website=www.cnadnr.ro |access-date=2025-01-12 |language=ro}}</ref> with another '''753.882&nbsp;km''' with signed contracts in various stages of execution, and another '''669.3&nbsp;km''' being tendered (29 May 2025).<ref>{{cite web|title= Highways in service |url=https://forum.peundemerg.ro/index.php?topic=9.0 |publisher=Peundemerg.ro |website=www.forum.peundemerg.ro |access-date=21 December 2023 |language=ro}}</ref><ref>{{cite web|title= Lista proiectelor de autostrazi din Romania |url=http://www.130km.ro/autostrazi.html |publisher=130km.ro |website=www.130km.ro |access-date=21 December 2023 |language=ro}}</ref>
[[File:A1 Orastie-Sibiu 05.jpg|thumb|[[A1 motorway (Romania)|A1 motorway]] near [[Orăștie]]]]
[[File:Bucharest_Metro_stationed_in_Eroilor_2_Station.jpg|thumb|Metro at Eroilor 2 Station in 2022]]
Bucharest is the only city in Romania which has an [[rapid transit|underground]] railway system, comprising both the [[Bucharest Metro]] and the [[light rail]] system managed by [[Regia 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 {{convert|80.1|km|mi|1}} long and has [[List of Bucharest metro stations|64 stations]].<ref name="auto1">{{Cite web|url=https://metroulbucuresti.com/|title=Metroul București|website=Metroul București}}</ref> The Bucharest Metro has five lines ([[M1 Line (Bucharest Metro)|M1]], [[M2 Line|M2]], [[M3 Line|M3]], [[Bucharest Metro Line M4|M4]], and [[Bucharest Metro Line M5|M5]]). The newest metro line, M5, was opened in 2020.<ref>{{cite web | url=https://metroulbucuresti.com/linia-m5/ | title=Linia M5 Râul Doamnei - Eroilor }}</ref> A sixth metro line, [[Bucharest Metro Line M6|M6]] line, is currently under construction. A second metro system, the [[Cluj-Napoca Metro]], is under construction.

==Sectors of the economy==
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.<ref>{{cite web | url=https://www.hithorizons.com/eu/analyses/country-statistics/romania | title=Industry Breakdown of Companies in Romania | website=HitHorizons}}</ref>

===Gas and natural resources===
Romania has become a natural gas exporter.<ref>{{cite web|url=https://www.agerpres.ro/english/2017/02/15/romania-s-black-sea-natural-gas-production-to-start-in-2018-official--17-41-51|title=Romania's Black Sea natural gas production to start in 2018 (official) – AGERPRES|website=www.AgerPres.ro|access-date=24 September 2017|archive-url=https://web.archive.org/web/20170924135814/https://www.agerpres.ro/english/2017/02/15/romania-s-black-sea-natural-gas-production-to-start-in-2018-official--17-41-51|archive-date=24 September 2017|url-status=dead}}</ref> 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.<ref>{{cite web|url=http://www.ropepca.ro/en/articole/oil-and-gas-history-in-romania/55/|title=Oil and Gas Industry in Romania – ROPEPCA – Romanian Petroleum Exploration and Production Companies Association|website=www.Ropepca.ro|access-date=24 September 2017|archive-url=https://web.archive.org/web/20170924135623/http://www.ropepca.ro/en/articole/oil-and-gas-history-in-romania/55/|archive-date=24 September 2017|url-status=dead}}</ref>

===Agriculture===
{{Main|Agriculture in Romania}}

Agriculture employs about 26% of the population (one of the highest rates in Europe) and contributes about 4.3% of GDP.<ref>{{cite web |url=https://data.worldbank.org/indicator/NV.AGR.TOTL.ZS?locations=RO |title=Agriculture, forestry, and fishing, value added (% of GDP) – Romania |publisher=The World Bank |access-date=16 September 2020 }}</ref><ref>{{cite web |url=https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Farmers_in_the_EU_-_statistics |title=Farmers in the EU – statistics |date=7 June 2018 |publisher=European Commission |url-status=dead |archive-url=https://web.archive.org/web/20180615181335/https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Farmers_in_the_EU_-_statistics |archive-date=15 June 2018 }}</ref> The [[Bărăgan Plain|Bărăgan]] 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 the [[Uruguay Round]] of the [[General Agreement on Tariffs and Trade]] (GATT) have resulted in reforms in the agricultural sector of the economy.

====Fishing====
Fishing is an economic mainstay in parts of eastern Romania and along the Black Sea coast, with important fish markets in places such as [[Constanta]], [[Galați]] and [[Tulcea]]. Fish such as [[European anchovy]], sprat, [[pontic shad]], [[Mullet (fish)|mullet]], goby, whiting, [[garfish]], [[Black-Sea Turbot]] or [[horse mackerel]] are landed at ports such as [[Constanta]].

There has been a large scale decrease in employment in the fishing industry within Romania due to the EU's [[Common Fisheries Policy]], which places restrictions on the total tonnage of catch that can be landed, caused by overfishing in the [[Black Sea]]. Along with the decline of sea-fishing, commercial [[fish farming|fish farms]] – especially in [[salmon]], have increased in prominence in the rivers and [[lochs]] 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.

===Industry===
{{Main|Industry of Romania}}

{{See also|Industrial development in the Principality of Wallachia}}

====Car industry====
{{Main|Automotive industry in Romania}}

[[File:2018 Dacia Duster.jpg|thumb|2018 [[Dacia Duster]]]]

====IT and other Industry====
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 of [[automobiles]], [[machine tools]], and chemicals. In 2013, some 410,997 [[List of countries by motor vehicle production|automobiles]] 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.<ref>{{cite news |url=https://www.romania-insider.com/romania-automotive-industry-2018 |department=Daily News |title=Romania's automotive industry up 20% in 2018 |date=5 February 2019 |work=Romania Insider |access-date=16 September 2020 }}</ref>

In 2004 Romania enjoyed one of the largest world market share in machine tools (5.3%).<ref>{{Cite web |last=Kiprop |first=Joseph |date=2018-07-27 |title=What Are The Biggest Industries In Romania? |url=https://www.worldatlas.com/articles/what-are-the-biggest-industries-in-romania.html |access-date=2025-02-09 |website=WorldAtlas |language=en-US}}</ref> Romanian-based companies such as [[Automobile Dacia|Dacia]], [[Petrom]], [[Rompetrol]], [[Bitdefender]], [[Romstal]] and [[Mobexpert]] 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%.<ref>{{cite web|url=http://www.financiarul.ro/2010/02/15/romania-reports-highest-december-2009-industrial-output-growth-in-eu27-2/|title=Romania reports highest December 2009 industrial output growth in EU27 – FINANCIARUL – ultimele stiri din Finante, Banci, Economie, Imobiliare si IT|access-date=16 September 2014|archive-date=5 July 2014|archive-url=https://web.archive.org/web/20140705111312/http://www.financiarul.ro/2010/02/15/romania-reports-highest-december-2009-industrial-output-growth-in-eu27-2/|url-status=dead}}</ref>

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.<ref name="qz.com"/>

===Services===
{{Main|Services in Romania}}

In 2003 the [[service 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 of [[big-box store]]s, such as [[Cora (hypermarket)]] (of France) and [[Carrefour]] (a French subsidiary), have led to fewer workers in this sector and a migration of retail jobs to the suburbs.

==Biotechnology industry==
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|date=August 2019}}

==Regional variation==
{{Main article|List of Romanian counties by GDP}}

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 by [[Council for National Policy|CNP]].<ref name="economica.net">{{cite web|url=http://www.economica.net/pib-judete-pib-bucuresti-pib-ilfov-pib-cluj-pib-brasov-pib-timis-top-pib-judete-harta-pib-judete_117201.html|title=TOPUL celor mai bogate 5 judete din Romania dupa PIB-ul pe cap de locuitor.|date=30 March 2016|access-date=30 March 2016}}</ref> {{Citation needed|reason=data differs from the sourse provided|date=December 2017}}

{| class="wikitable"
! Rank
! County
! GDP per capita (2022)<ref>{{cite web|url=https://graidecluj.ro/un-clujean-produce-anual-mai-putin-de-jumatate-fata-de-un-bucurestean/|work=Grai de Cluj|access-date=30 March 2016 |date=March 2015|title=Un clujean produce anual mai putin de jumatate fata de un bucurestean}}</ref><br /><small>(EUR)</small>
|-
| align=right| 1
|[[Bucharest]]
|57,189
|-
| align=right| 2
|[[Timiș County|Timiș]]
|29,996
|-
| align=right| 3
|[[Constanța County|Constanța]]
|27,608
|-
| align=right| 4
|[[Cluj County|Cluj]]
|25,682
|-
| align=right| 5
|[[Brașov County|Brașov]]
|23,908
|-
| align=right|6
| [[Arad County|Arad]]
|21,000
|-
|}

The highest GDP per capita is found in Bucharest and surrounding [[Ilfov County]]. Values well above the national average are found in [[Timiș County|Timiș]], [[Argeș County|Argeș]], [[Brașov County|Brașov]], [[Cluj County|Cluj]], [[Constanța County|Constanța]], [[Arad County|Arad]], [[Sibiu County|Sibiu]] and [[Prahova County|Prahova]]. Values well below the national average are found in: [[Vaslui County|Vaslui]], [[Botoșani County|Botoșani]], [[Călărași County|Călărași]], [[Neamț County|Neamț]], [[Vrancea County|Vrancea]], [[Suceava County|Suceava]], [[Giurgiu County|Giurgiu]], [[Mehedinți County|Mehedinți]], [[Olt County|Olt]] and [[Teleorman County|Teleorman]].<ref name="economica.net"/>

[[File:Pipera-Floreasca.png|thumb|Skyscrapers in [[Bucharest]]]]

==Foreign trade==
{{Main|Foreign trade of Romania}}

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.<ref name="Romania: Trade Statistics"/> 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.<ref name="um.dk">[http://www.ambbukarest.um.dk/da/menu/Eksportraadgivning/Markedsmuligheder/SidsteNyt/RomaniaImportsAgrifoodProductsOf24BnEurosIn2006.htm Romania imports agri-food products of 2.4 bn euros in 2006 – Danmarks ambassade Bukarest<!-- Bot generated title -->] {{webarchive|url=https://web.archive.org/web/20080413023510/http://www.ambbukarest.um.dk/da/menu/Eksportraadgivning/Markedsmuligheder/SidsteNyt/RomaniaImportsAgrifoodProductsOf24BnEurosIn2006.htm |date=13 April 2008 }}</ref>

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 the [[CEFTA]] countries, Turkey, Republic of Moldova and the USA.<ref name="um.dk"/> 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 the [[World 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.<ref>{{cite web|url=http://www.mediafax.ro/economic/romania-ocupa-locul-doi-in-ue-dupa-cresterea-exporturilor-din-primul-trimestru-6422468/|title=România ocupă locul doi în UE după creşterea exporturilor din primul trimestru – Mediafax|work=Mediafax.ro|date=15 June 2010 |access-date=16 September 2014}}</ref> The annual trade deficit has widened every year since 2014, standing at about EUR 18.77B in 2020.<ref>{{cite web|url=https://www.statista.com/statistics/373180/trade-balance-of-romania/|work=Statista|access-date=8 February 2022|title=Romania: Trade balance from 2010 to 2020}}</ref>

==Miscellaneous data==
'''Households with access to fixed and mobile telephone access'''<ref name="ceeitandtelecom.com">{{cite web|url=http://www.ceeitandtelecom.com/CEE_ICT_data.shtml |title=IT and telecommunications in Central and Eastern Europe |access-date=16 September 2014 |url-status=dead |archive-url=https://web.archive.org/web/20131011091725/http://www.ceeitandtelecom.com/CEE_ICT_data.shtml |archive-date=11 October 2013|website=CEE IT and Telecom |publisher=PMR }}</ref>
* ''landline telephone'' – 76% (2017)
* ''mobile telephone'' – 115% (2017)

'''Broadband penetration rate'''
* 79% (2019)<ref>{{cite web |url=https://www.statista.com/statistics/702532/broadband-internet-household-penetration-romania/ |title=Share of households with broadband internet access in Romania from 2006 to 2018 |date=10 July 2019 |first=Dennis |last=Schmidt |website=Statista |access-date=16 September 2020 }}</ref>

'''Individuals using computer and internet'''<ref name="ceeitandtelecom.com"/>
* ''computer'' – 74% (2017)
* ''internet'' – 87% (2017)

== See also ==
* [[List of companies of Romania]]

'''General:'''
* [[Economy of Europe]]

== References ==
{{reflist}}
{{commons category|Economy of Romania}}
{{Economy of Romania}}
{{Romania topics}}
{{Economy of Europe}}
{{Organisation for Economic Co-operation and Development}}

{{Authority control}}

{{DEFAULTSORT:Economy Of Romania}}
[[Category:Economy of Romania| ]]
[[Category:Economic history of Romania]]<!--remove when a specific article will be created for Section 2-->
[[Category:European Union member economies|Romania]]
[[Category:Economies of Europe by country|Romania]]