Romania’s Exports Could Exceed EUR 100 Billion in 2024

According to an analysis by Moneycorp Romania, Romania’s exports could exceed EUR 100 billion this year. Germany, Italy, Poland, Slovakia, the Czech Republic, and Hungary are the leading destinations for Romanian products.

According to INS data, Romanian companies‘ exports totalled EUR 38.5 billion in the first five months of this year, and prospects show that they could reach EUR 50 billion by the end of the first semester.

The most exports were those of machines and transport equipment (47.1%) and other manufactured products (29.6%).

In terms of sales markets, 72.7% of exports went to European Union countries, the value of intra-EU27 exchanges of goods being 28 billion euros. In countries outside the European Union, Romania exported goods and services worth 10.537 billion euros, representing 72.7% of total exports.

Even if exports moderated their evolution by 2.9% compared to the first five months of last year, the trend is positive. It shows that the economy has adapted to the challenges generated by the new fiscal changes, especially inflation, which is the highest in the EU. The premises are still ​​uncertain. Still, considering the new economic policy that Brussels wants to put into practice for the relaunch of the European economy, the prospects are announced to be positive.

Cosmin Bucur, Managing Director of Moneycorp Romania

He believes that Romanian exports will evolve mainly depending on how Germany, Italy, and France, the so-called Europe’s economic engine, overcome the problems generated by inflation, the restructuring of the economy in the context of the effects of the war in Ukraine, and the reconfiguration of production and supply chains.

For Romania, the experts from Moneycorp believe that the next period will bring a whole series of opportunities, given that Romanian products, from the point of view of the price-quality ratio, are in an attractive area, from construction materials to agro-food, textiles, and machinery.

In the last year, Romania’s main export products were machines and electrical devices, means of transport, furniture, construction materials and other products, agro-food products, chemical products and plastics, metallurgical products, textiles, clothing, leather, footwear and mineral products.

Romanian exports’ main markets were Germany (21.3%), Italy (10.7%), France (6.8%), Hungary (6.6%), Bulgaria (4.1%), Poland (3 .7%), Turkey (3.5%), the Czech Republic (3.3%), the Netherlands (2.9%), and Great Britain (2.9%).

According to the Moneycorp analysis, the evolution of Romanian exports will depend significantly on how the authorities support the economy’s relaunch.

In conclusion, Romania has a very high potential for relocating production activities, with a focus on exports. The efforts to expand the highways and railway network and the increasing investments in logistics parks make Romania an exciting destination for investors.