Romania Export/Import Ratio

Export/Import Ratio in Romania

Romania’s trade in technology products demonstrates both strong export capabilities and significant reliance on imports, revealing key trends in the country’s technology and manufacturing sectors.

Export Performance in 2023

The electrical machinery and equipment sector was Romania’s most exported category, valued at €16.8 billion, highlighting the country’s growing strength in the electronics and technology hardware industries. Vehicles, excluding railway or tramway rolling stock, were the second most exported products, bringing in approximately €14.4 billion.

Other major export categories included mineral fuels (€5.25 billion), cereals (€4.12 billion), rubber (€3.35 billion), iron and steel (€3.13 billion), and optical, photographic, and surgical instruments (€2.98 billion). While these categories contributed significantly to Romania’s exports, their revenues were notably lower compared to the dominant sectors of electrical machinery and vehicles.

Source: Statista, Main products exported by Romania in 2023, by value.

Import Dependence in 2023

Romania’s import profile reflects its reliance on foreign technology products, particularly in machinery and advanced equipment. The electrical machinery and equipment sector led imports, valued at €18.58 billion, highlighting a strong domestic demand for high-value technology components.

The second largest import category was machinery, mechanical equipment, and nuclear reactors, worth approximately €13.4 billion, followed by vehicles (€12.2 billion), mineral fuels (€10.39 billion), and plastics (€5.77 billion). Other significant imports included pharmaceutical products (€5.05 billion), iron and steel (€4.02 billion), and optical and photographic instruments (€2.87 billion).

Source: Statista, Main products imported by Romania in 2023, by value.

Trade Deficits in Technology Sectors

Romania’s trade balance reveals significant deficits in technology sectors, reflective of broader trends in the country’s trade of goods. In 2023, Romania’s overall trade deficit reached $31.3 billion, indicating a persistent imbalance between exports and imports. This deficit is not a new development but part of a decade-long trend of negative trade balances, with the deficit increasing significantly from $7.65 billion in 2013 to its current level.

Source: Statista, Romania: Trade balance of goods from 2013 to 2023.

In technology-related sectors, the trade deficit is driven by high import values in key categories such as electrical machinery and mechanical equipment. For example, in 2023, Romania imported electrical machinery worth €18.58 billion, surpassing exports in the same category by €1.78 billion. Similarly, the machinery and mechanical equipment sector recorded imports of €13.4 billion, contributing to a substantial trade gap.

This growing trade deficit highlights Romania’s dependency on foreign technology and advanced machinery to sustain its manufacturing sectors. While exports in high-value categories like electrical machinery and vehicles demonstrate the country’s manufacturing capabilities, the persistent reliance on imports underscores the need for greater domestic production capacity and innovation to reduce trade imbalances.

Key Takeaways

Romania’s strong export performance in technology-related sectors, particularly electrical machinery and vehicles, highlights the country’s growing manufacturing and technological capabilities. However, the persistent trade deficits, driven by reliance on imports of high-value machinery and equipment, underscore the need for increased domestic production capabilities. Investments in advanced manufacturing and innovation could help bridge these gaps, boosting Romania’s trade balance and enhancing its role in global supply chains.