GDP (Million $) – 350.414 (IMF, 2023)
GDP Per Capita ($) – 18.413
Growth Rate (%) – 2,19
Population – 19.863.812
Total Area (km2) – 238.391
Capital – Bucharest
Romania is a European Union member state located in the south-eastern part of Europe, with a population of 19.41 million. The country is positioned at the nexus of several large markets, including the European Union, Eurasia, and the Middle East. It is also home to a third of the Danube River as well as of the largest and deepest harbor at the Black Sea (Constanta). Bucharest (the capital and Romania’s largest city) has been the top FDI destination in the country for more than a decade and is a leading destination in Central and Eastern Europe for foreign direct investment.
Romania has a high-income, mixed economy with a very high Human Development Index and a skilled labor force, ranked 10th in the European Union by total nominal GDP and 7th largest when adjusted by purchasing power parity. Romania is the largest producer of electronics in Central and Eastern Europe and over the past 20 years, it 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 IT and motor vehicle production. Bucharest is one of the leading financial and industrial centers in Eastern Europe. The top 10 exports of Romania are: electrical machinery equipment (US$15.9 billion), vehicles ($13.8 billion), machinery -including computers- ($9.5 billion), mineral fuels ($7.4 billion), cereals ($4.6 billion), iron and steel ($3.5 billion), rubber and rubber articles ($3.2 billion), articles of iron or steel ($3.13 billion), furniture, bedding, lighting, signs and prefabricated buildings ($3.06 billion), Optical, technical and medical apparatus ($2.9 billion).
Source: https://www.trade.gov/
Automotive
Automotive production in Romania is focused on passenger vehicles, and more than 420 thousand vehicles were produced in 2021. The manufacturing companies are Automobile Dacia, which is part of Ford and Renault. Dacia Renault group is the largest company in Romania. The Dacia-Renault in Piteşti province and the Ford Craiova production facilities, which were transferred to Ford Otosan in 2022, are also supplied with significant input by Turkish companies located in Romania that produce automotive parts, and these two production facilities are also important for Turkish automotive industry exports.
On the other hand, the automotive sub-industry sector is mostly under the influence of foreign companies with production facilities in Romania. Some of the companies in question are Continental, Michelin, Autoliv, Schaeffler, Johnson Controls, Delphi, Pirelli, Leoni, Draxlmaier, Yazaki, Daimler.
Iron and Steel
The iron and steel industry plays a significant role within the Romanian economy as it accounts for relevant shares of the main national economic activities, including industrial and manufacturing output and total exports. Romania has considerable amount of natural resources for a country of its size, including iron deposits. Major Romanian exports to the United States and other countries worldwide today include iron and steel – both metals and items.
The Iron & Steel Manufacturing in Romania industry is valued at €2.0bn and is ranked 13th in Europe in 2024 (of 18 total EU countries). The Iron & Steel Manufacturing in Romania industry is the 43rd largest industry in Romania in 2024 (of 298 total industries that IBISWorld tracks).
