View source for Economy of Romania

{{Short description|none}}
{{Use dmy dates|date=October 2020}}
{{Infobox economy
| country = Romania
| image = [[File:Bucharest Business District (cropped).jpg|frameless|upright=1.4]]
| caption = [[Bucharest]], the [[Financial centre|financial center]] of Romania
| currency = [[Romanian leu|Leu]] (RON, L)
| fixed exchange = 
| year = [[Calendar year]]
| organs = [[European Union|EU]], [[World Trade Organization|WTO]] and [[Organization of the Black Sea Economic Cooperation|BSEC]]
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2020/01/weodata/groups.htm |title=World Economic and Financial Surveys World Economic Outlook Database—WEO Groups and Aggregates Information April 2020 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=9 September 2020 |archive-url=https://web.archive.org/web/20191222001529/https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |archive-date=22 December 2019 |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=29 September 2019 |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 = {{increase}} 19,064,409 (2024)<ref>{{cite web |url= https://insse.ro/cms/sites/default/files/com_presa/com_pdf/poprez_ian2024r.pdf |title=Populaţia rezidentă la 1 Ianuarie 2024 |publisher=INSSE (www.insse.ro) |access-date=2024-08-30|language=ro}}</ref>
| gdp = {{plainlist|
* {{increase}} $382.965 billion ([[GDP (nominal)|nominal]]; 2024 est.)<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}} $894.22 billion ([[Purchasing power parity|PPP]]; 2024 est.)<ref name="IMFWEORO"/>}}
| gdp rank = {{plainlist|
* [[List of countries by GDP (nominal)|41st (nominal, 2024)]]
* [[List of countries by GDP (PPP)|35th (PPP, 2024)]]}}
| per capita = {{plainlist|
* {{increase}} $20,090 (nominal, 2024 est.)<ref name="IMFWEORO"/>
* {{increase}} $47,200 (PPP, 2024 est.)<ref name="IMFWEORO"/>}}
| per capita rank = {{plainlist|
* [[List of countries by GDP (nominal) per capita|56th (nominal, 2024)]]
* [[List of countries by GDP (PPP) per capita|44th (PPP, 2024)]]}}
| growth = {{plainlist|
* 4.8% (2022)<ref name="IMFWEORO"/>
* 2.2% (2023)<ref name="IMFWEORO"/>
* 2.8% (2024)<ref name="IMFWEORO"/>
}}
| sectors = {{plainlist|
* [[Primary sector of the economy|agriculture]]: 4.47%
* [[Secondary sector of the economy|industry]]: 28.88%
* [[Tertiary sector of the economy|services]]: 57.61% 
* (2022)<ref>{{cite web |url=https://www.statista.com/statistics/373136/share-of-economic-sectors-in-the-gdp-in-romania/ |title=Romania: Share of economic sectors in the gross domestic product (GDP) from 2011 to 2022 |publisher=[[Statista]] |website=statista.com |language=en |accessdate=25 March 2024}}</ref>}}
| components = 
| inflation = 5.3% (2024)<ref name="IMFWEORO"/>
| poverty = {{plainlist|
*{{steady}} 17% (OECD, 2022)<ref>{{cite web |url=https://data.oecd.org/inequality/poverty-rate.htm#indicator-chart |title=Inequality - Poverty rate - OECD Data |publisher=[[OECD|Organisation for Economic Co-operation and Development]] |website=data.oecd.org |language=en |accessdate=4 October 2022}}</ref><ref>{{cite web |url=https://www.oecd.org/newsroom/romania-boosting-productivity-and-human-capital-will-foster-economic-growth-more-jobs-and-higher-incomes.htm |title=Romania: Boosting productivity and human capital will foster economic growth, more jobs and higher incomes, says OECD |publisher=[[OECD|Organisation for Economic Co-operation and Development]] |website=oecd.org |language=en |date=28 January 2022 |accessdate=4 October 2022}}</ref> -- set at 50% of the national median household income.
*{{decreasePositive}} 32.0% at risk of poverty or social exclusion (AROPE 2023)<ref>{{cite web |url=https://ec.europa.eu/eurostat/databrowser/view/tepsr_lm410/default/table?lang=en |title=Persons at risk of poverty or social exclusion by age and sex |publisher=[[Eurostat]] |website=ec.europa.eu}}</ref>}}
| hdi = {{plainlist|
* {{increase}} 0.827 {{color|darkgreen|very high}} (2022)<ref>{{cite web |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=13 March 2024}}</ref> ([[List of countries by Human Development Index|53rd]])
* {{increase}} 0.739 {{color|darkgreen|high}} [[List of countries by inequality-adjusted HDI|IHDI (46th)]] (2022)<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=13 March 2024}}</ref>}}
| gini = {{decreasePositive}} 31.0 {{color|darkorange|medium}} (2023)<ref>{{cite web |url=https://ec.europa.eu/eurostat/databrowser/view/tessi190/default/table?lang=en |title=Gini coefficient of equivalised disposable income - EU-SILC survey |publisher=[[Eurostat]] |website=ec.europa.eu}}</ref>
| cpi = {{steady}} 46 out of 100 points (2023, [[Corruption Perceptions Index|63rd]])
| labor = {{plainlist|
* {{increase}} 8.214 million (2021)<ref>{{cite web |url=https://insse.ro/cms/ro/publicatii-statistice-in-format-electronic?field_categorie_publicatie_value_i18n%5B%5D=3&created=1&field_cuvinte_cheie_value=&field_cod_publicatie_value=&items_per_page=10 |title=Publicații statistice în format electronic |website=insse.ro |publisher=[[National Institute of Statistics (Romania)]] |language=ro}} // {{cite web |url=https://insse.ro/cms/sites/default/files/field/publicatii/labour_force_in_romania_2021.pdf |title=Labour Force In Romania: Employment And Unemployment - The Year 2021 |pages=27 |quote=In 2021, the economically active population was of 8214.7 thousand persons, increasing (+26.7 thousand persons) compared to 2020. The largest shares in the total economically active population were held by those with medium level of education (63.9%), by men (58.5%) and by those with residence in urban area (57.8%). |language=en |date=5 August 2022 |access-date=17 October 2022}}</ref>
*{{increase}} 68.7% employment rate (2023)<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=20 July 2024}}</ref>}}
| occupations = {{plainlist|
* [[Primary sector of the economy|agriculture]]: 3.1%
* [[Secondary sector of the economy|industry & constr.]]: 35.7%
* [[Tertiary sector of the economy|services]]: 61.2% 
* (2021)<ref>{{cite web |url=https://insse.ro/cms/ro/publicatii-statistice-in-format-electronic?field_categorie_publicatie_value_i18n%5B%5D=3&created=1&field_cuvinte_cheie_value=&field_cod_publicatie_value=&items_per_page=10 |title=Publicații statistice în format electronic |website=insse.ro |publisher=[[National Institute of Statistics (Romania)]] |language=ro}} // {{cite web |url=https://insse.ro/cms/sites/default/files/field/publicatii/labour_force_in_romania_2021.pdf |title=Labour Force In Romania: Employment And Unemployment - The Year 2021 |pages=31 |quote=In 2021, 61.2% of employees worked in services, 35.7% in industry and constructions and 3.1% in agricultural activities. |language=en |date=5 August 2022 |access-date=17 October 2022}}</ref>}}
| unemployment = {{decreasePositive}} 5.6% (2024)<ref name="IMFWEORO"/>
| average gross salary = [[List of European countries by average wage|RON 8,580 / €1,724 / $1,910]] monthly (July, 2024)<ref>{{cite web |url=https://insse.ro/cms/ro/tags/comunicat-castig-salarial |title=Câștigul salarial mediu lunar / Perioada de referinta: august 2022 |website=insse.ro |publisher=[[Institutul Național de Statistică]] |language=ro |date=12 October 2022 |access-date=15 October 2022}}</ref>
| average net salary = [[List of European countries by average wage|RON 5,242 / € 1,053 / $1,167]] monthly (July, 2024)<ref>{{cite web |url=https://insse.ro/cms/sites/default/files/com_presa/com_pdf/cs07r24.pdf |publisher=[[Institutul Național de Statistică]]|title=CÂŞTIGUL SALARIAL MEDIU BRUT |website=ins.ro |language=ro |accessdate=14 September 2024}}</ref>
| 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|
* {{increase}} $88.3 billion (2021)<ref name="RIFT2021">{{cite web |url=https://www.romania-insider.com/ro-foreign-trade-feb-2022 |title=Romania's foreign trade resumes rally in 2021 |publisher=Romania Insider |website=romania-insider.com |date=10 February 2022 |language=en |accessdate=21 July 2022}}</ref>
* {{decrease}} $73 billion (2020)<ref name="OECROU">{{cite web |url=https://oec.world/en/profile/country/rou |title=OEC Profiles: Romania, 2020 |publisher=[[The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=21 July 2022}}</ref> 
* {{decrease}} $81.1 billion (2019)<ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/export/rou/all/show/2019/ |title=What does Romania export? (2019) |publisher=[[The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=21 July 2022}}</ref>}}
| export-goods = [[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]]; Other.<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=[[The Observatory of Economic Complexity|OEC - The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=6 April 2023}}</ref>}}
| imports = {{plainlist|
* {{increase}} $116.4 billion (2021)<ref name="RIFT2021"/>
* {{decrease}} $90.2 billion (2020)<ref name="OECROU"/>
* {{decrease}} $94.9 billion (2019)<ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/import/rou/all/show/2019/ |title=What does Romania import? (2019) |publisher=[[The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=21 July 2022}}</ref>}}
| import-goods = [[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]]; Others.<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=[[The Observatory of Economic Complexity|OEC - The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=6 April 2023}}</ref>}}
| current account = {{plainlist|
* −7.1% of GDP (2024e)<ref name="IMFWEORO"/>
* −$27.238 billion (2024e)<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 |accessdate=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 |accessdate=17 October 2022}}</ref>}}
| gross external debt = {{IncreaseNegative}} €137.2 / $143.8 billion (30 June 2022)<ref>{{cite web |url=https://www.zf.ro/banci-si-asigurari/datoria-externa-totala-romaniei-crescut-primele-sase-luni-2-64-21081117 |title=Datoria externă totală a României a crescut în primele şase luni cu 2,64 miliarde euro, la 137,2 miliarde euro. Datoria administraţiei publice a fost de 55 miliarde euro, în scădere cu 3,7 mld. euro faţă de decembrie 2021 |publisher=[[Ziarul Financiar|Ziarul Financiar, financial newspaper]] |website=zf.ro |language=ro |date=12 August 2022 |accessdate=17 October 2022}}</ref>
| debt = {{plainlist|
*{{increaseNeutral}} 53% of GDP (April 2024)<ref name="IMFWEORO"/>
*{{increaseNeutral}} RON 614.3 billion (May 2022)}}
| revenue = {{plainlist|
* {{increase}} 31.04% of GDP (2024)<ref name="IMFWEORO"/>
* {{increase}} RON 201.804 billion (2024)}}
| expenses = {{plainlist|
* {{increase}} 36.82% of GDP (2024)<ref name="IMFWEORO"/>
* {{increase}} RON 140.994 billion (2024)}}
| balance = {{plainlist|
* −7.1% of GDP (2024)<ref name="IMFWEORO"/>
* USD −26.292 billion (2024)}}
| credit = {{plainlist|
* [[Standard & Poor's]] (2022):<ref>{{cite web |url=https://mfinante.gov.ro/ro/web/trezor/rating-de-tara |title=Rating de țară - Istoricul ratingului de tara acordat de principalele agentii de rating: Standard & Poor's, Fitch, Moody's |publisher=[[Ministry of Public Finance (Romania)]] |website=mfinante.gov.ro |language=ro |accessdate=17 October 2022}}</ref><ref>{{cite web |title=Romania 'BBB-/A-3' Ratings Affirmed; Outlook Stable. -- Rating Action: "On April 15, 2022, S&P Global Ratings affirmed its 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Romania. The outlook is stable." |publisher=[[Standard & Poor's]] |website=disclosure.spglobal.com |url=https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/2825440 |access-date=18 August 2022}}</ref>
* BBB− (Local & Foreign currency, LT)
* A-3 (Local & Foreign currency, ST)
* A− (T&C Assessment)
* Outlook: Stable
* [[Moody's]] (2022):<ref>{{cite web |url=https://www.mfinante.gov.ro/static/10/Mfp/buget/sitebuget/RatinghistoryRomaniaMoodys_RO_dec2021.pdf |title=Moody's - Istoric evaluare risc suveran |publisher=[[Ministry of Public Finance (Romania)]] |website=mfinante.gov.ro |language=ro |access-date=17 October 2022}}</ref><ref>{{cite web |url=https://www.romania-insider.com/sp-rating-ro-apr-2022 |title=S&P affirms Romania's sovereign rating and its stable outlook '...in line with Moody's' |publisher=Romania Insider |website=romania-insider.com |date=18 April 2022 |access-date=18 August 2022}}</ref>
* Baa3
* Outlook: Stable
* [[Fitch Group|Fitch]] (2022):<ref>{{cite web |url=https://www.fitchratings.com/entity/romania-80442232 |title=Romania Credit Ratings |publisher=[[Fitch Ratings]] |website=fitchratings.com |access-date=29 August 2022}}</ref><ref>{{cite web |url=https://www.mfinante.gov.ro/static/10/Mfp/buget/sitebuget/RatinghistoryRomaniaFitch_RO10052022.pdf |title=Fitch - Istoric evaluare risc suveran |publisher=[[Ministry of Public Finance (Romania)]] |website=mfinante.gov.ro |language=ro |access-date=17 October 2022}}</ref>
* BBB−
* Outlook: Negative
* Scope (2024):<ref>{{cite web |url=https://www.scoperatings.com/ratings-and-research/sovereign-and-public-sector/team |title=Ratings & Research / Sovereign and Public Sector / Sovereign Ratings |publisher=Scope Ratings |website=scoperatings.com |access-date=1 March 2024}}</ref><ref>{{cite web |url=https://www.scoperatings.com/ratings-and-research/rating/EN/176459 |title=Scope affirms Romania's credit ratings at BBB- with Stable Outlook |publisher=Scope Ratings |website=scoperatings.com |date=1 March 2024 |access-date=1 March 2024}}</ref>
* BBB−
* Outlook: Stable}}
| reserves = {{increase}} €71,029 / $79,257 billion (Jul 2024)<ref>{{cite web|url=https://tradingeconomics.com/romania/foreign-exchange-reserves |title=Romania Foreign Exchange Reserves }}</ref>
| spelling = 
}}
The economy of [[Romania]] is a [[high-income economy|high-income]] [[mixed economy]], with a high degree of [[List of countries by economic complexity|complexity]].<ref>{{cite web |url=https://atlas.cid.harvard.edu/rankings |title=Country & Product Complexity Rankings |website=atlas.cid.harvard.edu |publisher=[[The Atlas of Economic Complexity]]}} → {{cite web |url=https://atlas.cid.harvard.edu/countries/185 |title=Romania |publisher=Growth Lab - Center for International Development at [[Harvard University]] |quote=Romania ranks as the ⁨⁨19th most complex country in the Economic Complexity Index (ECI) ranking. Compared to a decade prior, ⁨Romania's ⁨economy has become more complex, improving 9 positions in the ECI ranking. [...]⁨ Romania is ⁨more complex than expected for its income level. |access-date=27 December 2022}}</ref> It ranks 12th in the [[European Union]] by total [[nominal GDP]]<ref>{{Cite web |title=GDP (current US$) - Romania, 2022 |url=https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=RO&most_recent_value_desc=true |website=The World Bank |access-date=29 September 2023}}</ref> and 7th largest when adjusted by [[Purchasing power parity|purchasing power (PPP)]].<ref>{{Cite web |title=GDP, PPP (current international $) - Romania, 2022 |url=https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?locations=RO&most_recent_value_desc=true |website=The World Bank |access-date=29 September 2023}}</ref> The [[World Bank]] notes that [[Romania]]'s efforts are focused on accelerating [[Microeconomic reform|structural reforms]] and strengthening institutions in order to further converge with the [[European Union]]. The country's [[economic growth]] has been one of the highest in the [[EU]] since 2010, with 2022 seeing a better-than-expected 4.8% increase.<ref>{{Cite web |last=Romania Overview: Development news, research, data |title=The World Bank in Romania |url=https://www.worldbank.org/en/country/romania/overview |website=worldbank.org |date=11 April 2023 |access-date=29 September 2023 |quote=Romania has made impressive strides in raising its economic performance and prosperity over the past two decades. However, the COVID-19 pandemic and Russia’s invasion of Ukraine have tested the resilience of the Romanian economy and exacerbated its structural vulnerabilities, // the World Bank supports Romania’s efforts to accelerate structural reforms and convergence with the EU through robust, sustainable, and equitable growth and enhanced competitiveness. // Romania’s economy performed better than expected in 2022, expanding by 4.8 percent. Growth was driven by strong private consumption (up 5.5 percent year-over-year) benefiting from the phasing-out of pandemic restrictions, higher wages, and muted unemployment. |language=en}}</ref><ref>{{cite web |url=https://www.romania-insider.com/bloomberg-romania-supplies-eu-labor-shortages-asian-workers |title=Bloomberg: Romania supplies the EU with labor but covers own shortages with Asian workers |website=Romania-Insider.com |date=23 November 2022 |access-date=27 December 2022 |quote=Romania, the second poorest of the 27 EU states at the time of its accession 15 years ago, has seen spectacular economic growth. The country recently surpassed Latvia, Slovakia, and Greece in GDP per capita relative to purchasing power, reaching 73% of the EU average. The average net salary quadrupled in this period, reaching EUR 900 per month.}}</ref>

In recent years, it witnessed [[Growth rate (group theory)|growth rates]] such as: 4.8% in 2016, 7.1% in 2017, 4.4% in 2018 and 4.1% in 2019.<ref>{{cite web |title=World Economic Outlook Database, April 2020 |url=https://www.imf.org/external/pubs/ft/weo/2020/01/weodata/weorept.aspx?pr.x=44&pr.y=17&sy=2014&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=968&s=NGDP_RPCH%2CPPPGDP%2CPCPIPCH&grp=0&a= |website=IMF.org |publisher=International Monetary Fund |access-date=16 April 2020}}</ref> In 2020, its [[List of countries by GDP (PPP) per capita|GDP per capita]] in [[purchasing power]] standards reached 72% of the [[European Union]] average, up from 44% in 2007, the highest growth rate in the [[Member state of the European Union|EU27]].<ref>{{cite web |url=https://ec.europa.eu/eurostat/databrowser/view/tec00114/default/map?lang=en |title=GDP per capita in PPS |date=1 June 2022 |website=[[EUROSTAT]]}}</ref> [[Romania]]'s economy ranks [[List of countries by GDP (PPP)|35th in the world]] by its total GDP ([[Purchasing power parity|PPP]]), with a [[Int$]]784 billion annual output (2023 est.).<ref name="IMFWEORO"/> 

The country is a leading destination in [[Central and Eastern Europe]] for [[foreign direct investment]]: the cumulative [[foreign direct investment|FDI]] since 1989 totals more than $170 billion.<ref name="cia.gov">{{cite web|url=https://www.cia.gov/the-world-factbook/countries/romania/|title=The World Factbook|access-date=16 September 2014}}</ref> Romania is the largest electronics producer in the [[Central and Eastern Europe|region]].<ref>{{Cite web|last=International Trade Administration|date=2021-09-30|title=Romania - Country Commercial Guide|url=https://www.trade.gov/country-commercial-guides/romania-market-overview}}</ref> In the past 20 years Romania has also grown into a major center for [[mobile technology]], [[information security]], and related hardware research. The country is a regional leader in fields such as [[Information technology|IT]] and [[list of countries by motor vehicle production|motor vehicle production]].<ref>{{cite web |url=http://www.globalservicesmedia.com/Destinations/Africa-and-Middle-East/A-Glance-Inside-Bucharest,-Dubai,-Cape-Town-andGlasgow/25/23/10342/GS101221709071 |title=Global Services - A Glance Inside Bucharest, Dubai, Cape Town &Glasgow |access-date=2011-01-21 |url-status=dead |archive-url=https://web.archive.org/web/20101226033351/http://www.globalservicesmedia.com/Destinations/Africa-and-Middle-East/A-Glance-Inside-Bucharest,-Dubai,-Cape-Town-andGlasgow/25/23/10342/GS101221709071 |archive-date=26 December 2010}}</ref><ref>{{cite web|url=http://oica.net/wp-content/uploads/2007/06/statistic-definitions.pdf|title=Statistic definitions|website=OICA.net|access-date=24 September 2017}}</ref><ref>{{cite web|url=http://www.ultimelestiri.com/bcr--romania-poate-adopta-euro-in-2014-23904.html|title=BCR: Romania poate adopta euro in 2014 23904|access-date=16 September 2014|archive-date=17 March 2012|archive-url=https://web.archive.org/web/20120317102048/http://www.ultimelestiri.com/bcr--romania-poate-adopta-euro-in-2014-23904.html|url-status=dead}}</ref> [[Bucharest]], the capital city, is one of the leading financial and industrial centres in [[Eastern Europe]].

The top 10 exports of Romania are vehicles, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, and rubber and plastics. Imports of goods and services increased 9.3%, while exports grew 7.6% in 2016, as compared to 2015.<ref>{{Cite web | url=https://seenews.com/news/romanias-economy-grows-by-48-yy-in-q4-2016-14-qq-revised-data-564500 | title=Romania's economy grows by 4.8% y/Y in Q4 2016, 1.4% q/Q - revised data| website=SeeNews}}</ref> Exports of goods and services were expected to grow by 5.6% in 2017, while imports were seen increasing by 8.5%, according to the latest CNP (National Prognosis Commission) projections.<ref>{{cite web|url=https://seenews.com/news/romanian-finmin-analysts-keep-2017-gdp-growth-forecast-at-52-565871|title=Romanian finmin analysts keep 2017 GDP growth forecast at 5.2%|website=SeeNews.com|access-date=24 September 2017}}</ref>

The [[industry in Romania]] generated 33.6% of the local gross domestic product (GDP) in the first half of 2018.<ref>{{Cite web | url=https://www.romania-insider.com/industry-trade-growth-engines-first-half-2018/ | title=Industry and trade, the main growth engines for RO economy in first half| date=10 September 2018}}</ref>

==History==
===Before World War II===
The economy of Romania entered modernity with the [[Treaty of Adrianople (1829)|Treaty of Adrianople]] in 1829, ending centuries of Turkish control. Economic growth was stimulated by several milestones: the discovery and industrial exploitation of oil in 1857, the political union between [[Wallachia]] and [[Moldavia]] in 1859, land reforms, adoption of a local currency, the [[Romanian leu|leu]] (1867), the state independence (1877), as well as the building of an extensive rail-road system under king Carol I.

After the dissolution of neighbouring [[Russian Empire|Russian]] and [[Austro-Hungarian Empire|Austro-Hungarian]] empires following World War I, several Romanian-speaking provinces ([[Transylvania]], [[Bessarabia]], [[Banat]], [[Bukovina]]) united with the Kingdom of Romania, forming the Romanian state in its modern form. The application of radical agricultural reforms and the passing of a new constitution created a democratic framework and allowed for quick economic growth (industrial production doubled between 1923 and 1938, despite the effects of the [[Great Depression in Romania]]).

Until World War II, Romania was Europe's second-largest oil and food producer.<ref>{{cite news| url=https://www.telegraph.co.uk/sponsored/motoring/europa/7306099/Business-in-Romania-a-country-thats-fast-off-the-Bloc.html | work=The Daily Telegraph | location=London | title=Business in Romania: a country that's fast off the Bloc – Two years of EU membership have transformed the business face of Romania and savvy UK firms are reaping the rewards. Paul Bray reports. | date=24 February 2010 | access-date=2010-05-01}}</ref>

=== 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 aprox. $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 Ceauşescu 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 [[financial crisis of 2007–08]] 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 journal |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. 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}}
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{{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}}]]}}
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{{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}}]]}}
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{{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 November 2023 was 7,766 lei (1,562 euros) gross or 4,765 lei (958 euros) net.<ref name="www.insse.ro">{{cite web|url=https://insse.ro/cms/sites/default/files/com_presa/com_pdf/cs11r23.pdf|title=CÂŞTIGUL SALARIAL MEDIU BRUT*) PE ECONOMIE ÎN LUNA NOIEMBRIE 2023 A FOST 7766 LEI ŞI CEL NET 4765 LEI|website=www.insse.ro|date=12 January 2024 |access-date=15 January 2024}}</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|€736}}]]}}
{{Image label small|x=1.21|y=0.17||scale=330|text=[[Botoșani County|{{font color|black|#F2AF14|€741}}]]}}
{{Image label small|x=1.13|y=0.39||scale=330|text=[[Neamț County|{{font color|black|#F2AF14|€749}}]]}}
{{Image label small|x=1.31|y=0.33||scale=330|text=[[Iași County|{{font color|black|#D1A5C2|€946}}]]}}
{{Image label small|x=1.21|y=0.53||scale=330|text=[[Bacău County|{{font color|black|#45B8DB|€856}}]]}}
{{Image label small|x=1.39|y=0.51||scale=330|text=[[Vaslui County|{{font color|black|#45B8DB|€760}}]]}}
{{Image label small|x=1.24|y=0.70||scale=330|text=[[Vrancea County|{{font color|black|#F2AF14|€705}}]]}}
{{Image label small|x=1.39|y=0.70||scale=330|text=[[Galați County|{{font color|black|#45B8DB|€841}}]]}}
{{Image label small|x=1.20|y=0.84||scale=330|text=[[Buzău County|{{font color|black|#45B8DB|€769}}]]}}
{{Image label small|x=1.37|y=0.87||scale=330|text=[[Brăila County|{{font color|black|#F2AF14|€749}}]]}}
{{Image label small|x=1.53|y=0.90||scale=330|text=[[Tulcea County|{{font color|black|#F2AF14|€738}}]]}}
{{Image label small|x=1.49|y=1.09||scale=330|text=[[Constanța County|{{font color|black|#45B8DB|€843}}]]}}
{{Image label small|x=1.30|y=0.99||scale=330|text=[[Ialomița County|{{font color|black|#45B8DB|€764}}]]}}
{{Image label small|x=1.27|y=1.07||scale=330|text=[[Călărași County|{{font color|black|#45B8DB|€767}}]]}}
{{Image label small|x=1.09|y=0.98||scale=330|text=[[Ilfov County|{{font color|black|#D1A5C2|€981}}]]}}
{{Image label small|x=1.09|y=1.04||scale=330|text=[[București|{{font color|black|#D1A5C2|€1210}}]]}}
{{Image label small|x=1.07|y=1.12||scale=330|text=[[Giurgiu County|{{font color|black|#45B8DB|€795}}]]}}
{{Image label small|x=0.93|y=1.14||scale=330|text=[[Teleorman County|{{font color|black|#F2AF14|€738}}]]}}
{{Image label small|x=0.86|y=0.90||scale=330|text=[[Argeș County|{{font color|black|#45B8DB|€851}}]]}}
{{Image label small|x=0.98|y=0.92||scale=330|text=[[Dâmbovița County|{{font color|black|#45B8DB|€780}}]]}}
{{Image label small|x=1.08|y=0.88||scale=330|text=[[Prahova County|{{font color|black|#45B8DB|€887}}]]}}
{{Image label small|x=0.80|y=1.09||scale=330|text=[[Olt County|{{font color|black|#45B8DB|€843}}]]}}
{{Image label small|x=0.65|y=1.11||scale=330|text=[[Dolj County|{{font color|black|#45B8DB|€842}}]]}}
{{Image label small|x=0.74|y=0.88||scale=330|text=[[Vâlcea County|{{font color|black|#F2AF14|€727}}]]}}
{{Image label small|x=0.60|y=0.90||scale=330|text=[[Gorj County|{{font color|black|#45B8DB|€833}}]]}}
{{Image label small|x=0.52|y=1.01||scale=330|text=[[Mehedinți County|{{font color|black|#45B8DB|€776}}]]}}
{{Image label small|x=0.83|y=0.49||scale=330|text=[[Mureș County|{{font color|black|#45B8DB|€877}}]]}}
{{Image label small|x=0.99|y=0.51||scale=330|text=[[Harghita County|{{font color|black|#45B8DB|€759}}]]}}
{{Image label small|x=1.07|y=0.67||scale=330|text=[[Covasna County|{{font color|black|#45B8DB|€772}}]]}}
{{Image label small|x=0.95|y=0.71||scale=330|text=[[Brașov County|{{font color|black|#D1A5C2|€923}}]]}}
{{Image label small|x=0.76|y=0.68||scale=330|text=[[Sibiu County|{{font color|black|#D1A5C2|€1013}}]]}}
{{Image label small|x=0.64|y=0.61||scale=330|text=[[Alba County|{{font color|black|#45B8DB|€853}}]]}}
{{Image label small|x=0.63|y=0.45||scale=330|text=[[Cluj County|{{font color|black|#D1A5C2|€1168}}]]}}
{{Image label small|x=0.56|y=0.35||scale=330|text=[[Sălaj County|{{font color|black|#45B8DB|€786}}]]}}
{{Image label small|x=0.38|y=0.39||scale=330|text=[[Bihor County|{{font color|black|#45B8DB|€775}}]]}}
{{Image label small|x=0.50|y=0.22||scale=330|text=[[Satu Mare County|{{font color|black|#45B8DB|€783}}]]}}
{{Image label small|x=0.69|y=0.22||scale=330|text=[[Maramureș County|{{font color|black|#45B8DB|€788}}]]}}
{{Image label small|x=0.80|y=0.33||scale=330|text=[[Bistrița-Năsăud County|{{font color|black|#45B8DB|€774}}]]}}
{{Image label small|x=0.32|y=0.57||scale=330|text=[[Arad County|{{font color|black|#45B8DB|€827}}]]}}
{{Image label small|x=0.24|y=0.71||scale=330|text=[[Timiș County|{{font color|black|#D1A5C2|€1142}}]]}}
{{Image label small|x=0.36|y=0.85||scale=330|text=[[Caraș-Severin County|{{font color|black|#F2AF14|€747}}]]}}
{{Image label small|x=0.53|y=0.71||scale=330|text=[[Hunedoara County|{{font color|black|#F2AF14|€722}}]]}}
{{Image label end}}
{{small|Note: Counties highlighted in purple on the map had an average net monthly salary (after tax) of €900 and above in November 2023, those in blue fell within the range of €899 to €750, and counties in orange had average net monthly salaries below €750.<ref name="stat.gov.rs">{{cite web|url=https://www.zf.ro/eveniment/harta-judetelor-dupa-cele-mari-salarii-trei-judete-capitala-platesc-22282746|title=Harta judeţelor după cele mai mari salarii. Doar trei judeţe şi Capitala plătesc pe medie salarii de peste 5.000 de lei net pe lună. În mai mult de jumătate dintre judeţe, salariul mediu net nu ajunge la 4.000 de lei pe lună|website=www.zf.ro|access-date=2 March 2024}}</ref>}}

===Minimum wage in Romania===
The minimum gross wage in the Romanian economy amounts to RON 3700 (≈EUR 745) from 1 July 2024. The same minimum wage applies to employees with a seniority of over 15 years.<ref>{{Cite web|date=2023-09-15|title=Romanian minister confirms 10% rise of minimum statutory wage in October |url=https://www.romania-insider.com/romania-minimum-wage-increase-october-2023|access-date=2022-10-11|website=romania-insider.com|language=en}}</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]] or [[Alba Iulia]]), beaches and seaside resorts, ski resorts, and well-preserved rural regions appreciated for their beauty and tranquillity. Romania is the destination of many religious pilgrimages,{{citation needed|date=February 2022}} hosting several thousands visitors each year.

==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 February 2021, 1 RON is worth about 0.2045 EUR and US$0.2483.<ref>{{Cite web|title=RON/USD (RONUSD=X) Live Rate, Chart & News - Yahoo Finance|url=https://finance.yahoo.com/quote/RONUSD=X/|access-date=2021-02-06|website=finance.yahoo.com|language=en-US}}</ref> Romania is expected to adopt the euro in 2026.<ref>{{Cite web|title=RON/EUR (RONEUR=X) Live Rate, Chart & News - Yahoo Finance|url=https://finance.yahoo.com/quote/RONEUR=X/|access-date=2021-02-06|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:A1 Orastie-Sibiu 05.jpg|thumb|[[A1 motorway (Romania)|A1 motorway]] near [[Orăștie]]]]
{{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 December 2023, {{cvt|1065.9|km}}<ref>{{cite web |title=Lista proiectelor de autostrazi din Romania |url=http://www.130km.ro/autostrazi.html |access-date=29 December 2023 |website=130km.ro |language=ro}}</ref> of motorways are in use with a small portion of Lugoj-Deva (between Margina and Holdea) to be finished while Sibiu-Pitești is still tendering. The [[Caile Ferate Romane|railway network]], which was significantly expanded during the Communist years, is the fourth largest in Europe.<ref>{{cite web|url=http://www.rad.com/Article/0,6583,19847,00.html|title=RAD – Network Access & Telecommunications Solutions|access-date=16 September 2014|archive-url=https://web.archive.org/web/20140804124315/http://www.rad.com/Article/0,6583,19847,00.html|archive-date=4 August 2014|url-status=dead}}</ref>

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. Now it is one of the most accessed systems of the [[Transport in Bucharest|Bucharest public transport network]] with an average ridership of 800,000 passengers during the [[workweek]].<ref>{{cite web|url=http://www.railway-technology.com/projects/bucharest-metro/|title=Bucharest Metrorex – Railway Technology|access-date=16 September 2014}}</ref> In total, the network is 71&nbsp;km long and has 53 stations.<ref>{{cite web|url=http://www.metrorex.ro/|title=METROREX|access-date=16 September 2014|archive-date=30 April 2008|archive-url=https://web.archive.org/web/20080430140138/http://www.metrorex.ro/|url-status=dead}}</ref>

==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%).{{Citation needed|date=March 2009}} 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 bioventure 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|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 Ltd|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]]