From 2021 to 2022, the overall value of Romanian exports expanded by 10.7% from $87.5 billion.
Romania’s top 6 most valuable customers for its exported products are Germany, Italy, Hungary, France, Bulgaria and Poland. Collectively, that half-dozen of major customers generated just over half (50.9%) of the total revenues collected for all Romanian exports during 2022.
Applying a continental lens, 83.4% of Romania’s exports by value was delivered to fellow European countries while 10% was sold to importers in Asia. Romania shipped another 3% worth of goods to Africa.
Smaller percentages went to North America (2.7%), Latin America (0.4%) excluding Mexico but including the Caribbean, and Oceania (0.1%) led by Australia and New Zealand.
Romania’s Top Trading Partners
Below is a list showcasing 25 of Romania’s top trading partners, countries that imported the most Romanian shipments by dollar value during 2022. Also shown is each import country’s percentage of total Romanian exports.
- Germany: US$19.2 billion (19.8% of Romania’s total exports)
- Italy: $9.8 billion (10.1%)
- Hungary: $7.1 billion (7.3%)
- France: $5.8 billion (6%)
- Bulgaria: $3.8 billion (3.9%)
- Poland: $3.7 billion (3.8%)
- Netherlands: $3.4 billion (3.5%)
- Spain: $3.01 billion (3.1%)
- Türkiye: $2.99 billion (3.1%)
- Czech Republic: $2.8 billion (2.9%)
- United Kingdom: $2.78 billion (2.9%)
- United States: $2.4 billion (2.5%)
- Moldova: $2.38 billion (2.5%)
- Austria: $2.33 billion (2.4%)
- Belgium: $1.98 billion (2%)
- Slovakia: $1.88 billion (1.9%)
- Serbia: $1.64 billion (1.7%)
- Ukraine: $1.6 billion (1.7%)
- mainland China: $1.15 billion (1.2%)
- Greece: $1.14 billion (1.2%)
- Morocco: $835.6 million (0.9%)
- Israel: $827 million (0.9%)
- Egypt: $825.4 million (0.9%)
- Sweden: $814.8 million (0.8%)
- Switzerland: $710.9 million (0.7%)
By value, 87.6% of Romanian exports in 2022 was delivered to the above 25 trade partners.
The fastest-growing importers of products shipped from Romania from 2021 to 2022 are Ukraine (up 97.7%), Serbia (up 56.4%), Moldova (up 55.7%), Hungary (up 41.2%), and the United States of America (up 38.3%).
There was a trio of decliners in terms of major customers buying Romania’s exports: Egypt (down -1.4% from 2021), Türkiye (down -1.4%) and Slovakia (down -0.2%).
Countries Causing Romania’s Largest Trade Deficits
Romania incurred an overall -$35.9 billion trade deficit during 2022, up 24% from the -$28.9 billion in red ink one year earlier in 2021.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Romania incurred the highest trade deficits with the following countries.
- Germany: -US$5.3 billion (country-specific trade deficit in 2022)
- China: -$5 billion
- Russia: -$4.4 billion
- Poland: -$3.7 billion
- Hungary: -$3 billion
- Turkey: -$2.7 billion
- Netherlands: -$1.6 billion
- Bulgaria: -$1.49 billion
- Austria: -$1.48 billion
- Italy: -$1.1 billion
Among Romania’s trading partners that cause the greatest negative trade balances, Romanian deficits with Bulgaria (up 318.5%), Türkiye (up 110.2%) and Russia (up 109%) grew at the fastest pace from 2021 to 2022.
These cashflow deficiencies clearly indicate Romania’s competitive disadvantages with the above countries, but also represent key opportunities for Romania to develop country-specific strategies to strengthen its overall position in international trade.
Countries Creating Romania’s Best Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Romania incurred the highest trade surpluses with the following countries.
- United Kingdom: US$1.6 billion (country-specific trade surplus in 2022.)
- Moldova: $1.2 billion
- United States of America: $997.4 million
- France: $660 million
- Israel: $605.2 million
- Jordan: $599.8 million
- Japan: $418 million
- Serbia: $400.8 million
- Morocco: $387.9 million
- Algeria: $378.4 million
Among Romania’s trading partners that generate the greatest positive trade balances, Romanian surpluses with Algeria (up 3,078%), Serbia (up 2,830%) and Moldova (up 72.3%) grew at the fastest pace from 2021 to 2022.
In addition, Romania transitioned from a -$2.1 million deficit trading with Japan in 2021 to post the trade surplus listed above.
These positive cashflow streams clearly indicate Romania’s competitive advantages with the above countries, but also represent key opportunities for Romania to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Romanian Trading Partners
Not one Romanian corporation ranks among Forbes Global 2000.
Wikipedia lists Romanian companies engaged in international trade. Selected examples are shown below.
- Antibiotice Iași (pharmaceuticals)
- Arctic S.A. (household appliances)
- Automobile Dacia (cars)
- Daewoo-Mangalia Heavy Industries DMHI (ships)
- European Drinks & Foods (food, beverages)
- Farmec (cosmetics, personal hygiene)
- Jolidon (lingerie, swimsuits)
- Roman (trucks, buses)
- Romstal (sanitary wear)
- Tehnoton (home electronics, machinery)
See also Romania’s Top 10 Exports, Moldova’s Top 10 Exports, Hungary’s Top 10 Exports and Poland’s Top Trading Partners</a>
Research Sources:
Central Intelligence Agency, The World Factbook Europe: Romania. Accessed on May 27, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 27, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on May 27, 2023
International Trade Centre, Trade Map. Accessed on May 27, 2023
Investopedia, Net Exports Definition. Accessed on May 27, 2023
Wikipedia, Romania. Accessed on May 27, 2023
Wikipedia, List of Companies of Romania. Accessed on May 27, 2023
