Romania Import Data

Romanian Trade Overview and Market Analysis for 2023

Imports & Exports

• Top Trade Partners: Romania's major trade allies include Germany, Italy, and France, reflecting a strong European Union focus.

• Top 5 Imports: Vehicles, machinery, pharmaceuticals, electrical equipment, and plastics lead the import list, collectively accounting for a significant portion of Romania's total imports.

• Top 5 Exports: The country predominantly exports machinery, vehicles, electrical equipment, textiles, and pharmaceuticals, which together make up a considerable share of total exports.

• Trade Balance: Romania experiences a trade deficit, importing more than it exports, a scenario influenced by its consumption patterns and industrial needs.

• Trade Policies: Adhering to EU regulations, Romania's trade policies are centered on free trade agreements, aiming to enhance competitiveness and attract foreign investment.

Market Conditions

• Consumer Expenditure: Consumer spending remains robust, with a notable shift towards services and digital goods, indicating a growing middle class and changing consumer preferences.

• Interest Rates & Inflation: Moderate interest rates alongside controlled inflation support a stable economic environment, conducive to investment and saving.

• Supply Chain Dynamics: Supply chains are increasingly resilient, with a focus on local sourcing to mitigate global disruptions, ensuring a steady flow of goods and services.

• Sectoral Performance: The automotive, IT, and agriculture sectors are excelling, showcasing Romania's diverse economic capabilities and innovation strength.

Overall Outlook

Despite challenges such as managing the trade deficit and maintaining low inflation, Romania's economy is poised for growth, bolstered by a strong domestic market and strategic trade relationships. The future looks bright as Romania continues to integrate into the global economy and leverage its competitive advantages.