Romania Economy Overview
Romania was the number 47 GDP in the world according to the most recent data, ranking 41st in total exports and 38th in total imports.
Geographically, Romania shares borders with Bulgaria, Hungary, Moldova, Serbia, and Ukraine.
Romania's Top 5 Commodity Exports
- Refined Petroleum – $2,6 billion
- Wheat – $1.5 billion
- Corn – $1 billion
- Sunflower Seeds – $733 million
- Rolled Tobacco – $697 million
Romania's Other Notable Exports
- Vehicle Parts – $7.5 billion
- Cars – $5.6 billion
- Insulated Wire – $4.7 billion
- Electrical Control Boards – $2.2 billion
- Seats – $1.8 billion
GDP of Romania
Romania was the 47th best economy in the world with $81.6 billion in exports and $95.3 billion in imports, making for a negative $13.7 billion in the red. Romania's top exports are Vehicle Parts, Cars, Insulated Wire, Refined Petroleum, and Electrical Control Boards. Its top imports are Vehicle Parts, Crude Petroleum, Cars, Packaged Medicaments, and Insulated Wire.
Romania's Top 5 Commodity Imports
- Crude Petroleum – $3.7 billion
- Refined Petroleum – $1.6 billion
- Other Iron Products – $781 million
- Pig Meat – $583 million
- Copper Wire – $530 million
Romania's Other Notable Imports
- Vehicle Parts – $4.7 billion
- Cars – $3 billion
- Packaged Medicaments – $2.9 billion
- Insulated Wire – $2.2 billion
- Broadcasting Equipment – $1.6 billion
Details on Romania's Imports/Exports
Romania imports Crude Petroleum ($3.69 billion), its 2nd most-imported product, and exports Refined Petroleum ($2.62 billion) at a deficit of $1.07 billion. The former Soviet country was the 34th largest importer of Crude Petroleum and the 42nd largest exporter of Refined Petroleum.
|Imports Crude Petroleum From:||Exports Refined Petroleum To:|
|Kazakhstan ($1.46 billion), |
Russia ($1.46 billion), Azerbaijan ($340 million), Iraq ($339 million), and Nigeria ($66.3 million).
|Moldova ($467 million), Bulgaria ($325 million), Egypt ($314 million), Greece ($232 million), and Turkey ($207 million).|
Electrical Control Boards
Romania was the 7th largest exporter of Electrical Control Boards, despite the fact that Electrical Control Boards were only the 5th most exported product in Romania.
Germany, Czechia, and the United States are the fastest-growing importers of Romania's Electrical Control Boards.
Sources & Further Reading
- All figures based on OEC 2018 calculations and projections unless otherwise stated.
- Encyclopedia Brittanica
- Romania's Debt Clock
- Learn How to Trade Crude Oil
All currency is reported in US dollars.
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