Romania is a relatively young EU member state, having joined the European Union in 2007. The country has ambition and is aiming to put itself on the map as a hub for EU and Eastern European markets.
With a population of over 20 million, Romania is by no means a large country but its borders with both Eastern and Western Europe give it a unique geography that can be capitalised on by savvy investors who wish to target both East and West.
The business climate in Romania is favourable – according to the European Commission in March 2019 ESI in Romania was 102.3 compared to an average of 105 in the EU. Credit rating for Romania also remains stable at B2, with an even lower rating for business environment according to our Market analysis experts CRS.
In 2018 compared to 2017, Romania experienced the following increases in several sectors:
- Industrial production increased by 3.5% gross series.
- New orders in manufacturing have increased by 15.8%
- Turnover in industry increased by 11.8%
- Retail turnover volume (excluding motor vehicles and motorcycles) increased by 5.4% gross series.
Romania’s GDP is dominated by some key sectors including:
- Industry at 23.8% of total GDP
- Wholesale, retail, motor vehicle repair, hotels and restaurants at 18.4% of total GDP
- Public administration, defence, social insurance of public sector, education, health and social assistance at 12.2% of total GDP
- Real estate at 8% of total GDP
For UK businesses seeking potential export and investment opportunities in Romania the following sectors are open for UK Businesses to explore:
- Automotive Manufacturing
- Healthcare and medical services
- Logistics and infrastructure
- Cosmetics and beauty products
- Recycling and the circular economy
Businesses that are interested in finding out more about the potential for export and investment opportunities in Romania can contact us at email@example.com.