Romania Trade, Exports and Imports

By: EconomyWatch Content   Date: 30 March 2010

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Romania saw an immediate change in its international trade scenario when it liberalized its trading system at the time of joining the European Union in 2007. Romania has been seeing a continuous increase in exports since 2003. Despite negative GDP growth in 2009, due to the global recession, the country’s exports grew 22.54%.

Romania Trade, Exports and Imports

Romania has always been plagued by trade deficit. While the estimated total exports in Romania amounted to $49.41 billion in 2009, its total imports were $76.17 billion. As of September 17, 2009, the country ranked 55 globally in terms of exports and 42 in terms of imports.

Leading exports include:

  • Machinery and equipment

  • Textiles and footwear

  • Metals and metal products

  • Machinery and equipment

  • Minerals and fuels

  • Chemicals

  • Agricultural products

Leading imports include:

  • Machinery and equipment

  • Fuels and minerals

  • Chemicals

  • Textile and products

  • Metals

  • Agricultural products

The countries with which Romania trades with are:

Export (as of 2008)

  • Germany 16.3%

  • Italy 15.4%

  • France 7.3%

  • Turkey 6.5%

  • Hungary 5%

  • Bulgaria 4.1%

Romania was the largest trading partner of the US among the Central-Eastern European countries until Ceauşescu's 1988 renunciation of the Most Favored Nation (non-discriminatory) trading status. However, now with Romania shipping only about 1.5% of its exports to the US, the world leader is no longer a crucial export partner.

Import (as of 2008)

  • Germany - 16.1%

  • Italy 11.2%

  • Hungary 7.3%

  • Russia 5.9%

  • France 5.6%

  • Turkey 4.9%

  • Austria 4.8%

  • Kazakhstan 4.5%

  • China 4.2%

In 2007, Romania exported approximately $40.25 billion worth of goods in the international market. Meanwhile, Romanian imports totaled $64.33 billion, resulting in the overall trade deficit of $24.1 billion. 

Reserves of foreign exchange and gold:

  • $33.7 billion (December 31, 2009 est.)

  • $39.47 billion (December 31, 2008 est.) 

Debt - external:

  • $95.48 billion (estimated amount as of December 31, 2009)

  • $102.2 billion (estimated amount as of December 31, 2008)

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