Romania

Description of Romania

As a country of rich history and cultural diversity, Romania stands at a crossroads of geopolitical and economic significance in Eastern Europe. From the picturesque landscapes of Transylvania to the vibrant city life in Bucharest, Romania offers a unique blend of tradition and modernity. This website delves into the intricate tapestry of Romania's macroeconomic landscape, exploring the implications of key statistics on the nation's development and its relations with neighboring countries and global partners.

Population And Age Structure

Population, total: Romania's population of 19,265,250 is below the average population of 40,097,746. Romania ranks 63 out of 194 countries in terms of population.

Population ages 0-14 (% of total population): With 16.02% of the population aged 0-14, Romania falls below the average of 27.34%. The country ranks 159 out of 194 countries.

Population ages 0-14, total: Romania's total of 3,085,931 children aged 0-14 is lower than the average of 10,327,980. Romania ranks 85 among 194 countries.

Population ages 15-64 (% of total population): Romania's 65.30% of the population aged 15-64 is slightly above the average of 63.44%. The country ranks 80 out of 194 countries.

Population ages 15-64, total: With a total of 12,579,435 individuals aged 15-64, Romania is below the average of 26,003,407. Romania ranks 59 out of 194 countries.

Population ages 65 and above (% of total population): Romania's 18.69% of the population aged 65 and above is significantly higher than the average of 9.22%. Romania ranks 28 out of 194 countries.

Population ages 65 and above, total: Romania's total of 3,599,884 elderly individuals is slightly below the average of 3,766,959. Romania ranks 31 out of 194 countries.

Summary

Romania has a population below the global average with a higher percentage of elderly individuals compared to children. While the working-age population is slightly above average, the country has a lower proportion of children and ranks lower in terms of total population and age demographics. These indicators are important as they influence the country's dependency ratio, healthcare needs, workforce dynamics, and potential economic challenges related to an aging population.

Population Miscellaneous

Romania's rural population is 8,824,640, which is below the average of 18,044,041. Romania ranks 62 out of 190 countries in this attribute.

The percentage of Romania's total population living in rural areas is 45.806%, slightly above the average of 41.158%. Romania ranks 76 out of 190 countries in this aspect.

With an urban population of 10,440,610, Romania falls below the average of 22,425,747. Romania ranks 60 out of 194 countries in urban population.

54.194% of Romania's population lives in urban areas, slightly below the average of 59.691%. Romania ranks 119 out of 194 countries in this category.

The age dependency ratio in Romania is 53.148%, lower than the average of 59.219%. Romania ranks 115 out of 194 countries in this metric.

Romania's crude birth rate of 10.3 per 1,000 people is below the average of 19.384. Romania ranks 153 out of 192 countries in this indicator.

On the other hand, Romania's crude death rate is 15.5 per 1,000 people, higher than the average of 8.214. Romania ranks 6 out of 192 countries in this category.

Romania's total fertility rate of 1.8 births per woman is below the average of 2.603. Romania ranks 119 out of 190 countries in this aspect.

Summary

Romania exhibits a demographic profile characterized by a lower rural population, higher urban population, and a relatively lower age dependency ratio compared to global averages. The country also demonstrates a below-average crude birth rate and total fertility rate but a higher crude death rate. These indicators collectively suggest a demographic shift towards urbanization and an aging population, which could have significant implications for Romania's future labor force, healthcare system, and overall economic development.

Military

Analysis of Military Expenditure (current USD): Romania's military expenditure is $5,052,321,470.66, ranking 37 out of 149 countries. This is significantly below the average military expenditure of $12,904,993,617.17.

Analysis of Military Expenditure (% of GDP): Romania's military expenditure as a percentage of GDP is 2.01%, ranking 48 out of 148 countries. This is slightly above the average military expenditure of 1.90% of GDP.

Analysis of Arms Imports: Romania's arms imports are $189,000,000, ranking 27 out of 113 countries. This is below the average arms imports of $205,522,123.89.

Analysis of Armed Forces Personnel, total: Romania has 128,000 total armed forces personnel, ranking 48 out of 164 countries. This is below the average total of 165,908.54 armed forces personnel.

Analysis of Armed Forces Personnel (% of total labor force): Romania's armed forces personnel as a percentage of the total labor force is 1.44%, ranking 43 out of 164 countries. This is above the average of 1.28% of the total labor force.

Summary

Romania's military expenditure, though below the global average, shows a dedicated commitment to defense. The country's allocation of 2.01% of GDP for military spending, slightly above average, indicates a prioritization of national security. With a lower number of armed forces personnel compared to the average, Romania focuses on efficiency and modernization in its defense strategies.

Natural Resources

Regarding Forest area (sq. km), Romania has a value of 69,290.5 which is below the average of 211,606.11 sq. km. This ranks Romania 64th out of 191 countries.

For Land area (sq. km), Romania's 230,080 sq. km is below the average of 665,166.51 sq. km, placing Romania 80th out of 194 countries.

In terms of Surface area (sq. km), Romania's 238,400 sq. km is below the average of 689,779.56 sq. km. Romania ranks 81st out of 194 countries.

Looking at Arable land (hectares), Romania's 8,483,000 hectares is above the average of 7,329,543.16 hectares. Romania ranks 29th out of 190 countries.

Regarding Land under cereal production (hectares), Romania's 5,341,510 hectares is above the average of 4,206,011.63 hectares. Romania ranks 31st out of 174 countries.

For Average precipitation in depth (mm per year), Romania's 637 mm is below the average of 1,157.83 mm. Romania ranks 121st out of 178 countries.

Lastly, in Renewable internal freshwater resources, Romania's 42.38 billion cubic meters is significantly below the average of 240.41 billion cubic meters. Romania ranks 83rd out of 178 countries.

Summary

Romania's land area and forest area are below the global averages, impacting its environmental diversity and potential for resource utilization. However, its arable land and land under cereal production are above average, indicating agricultural potential. The country's low average precipitation and renewable internal freshwater resources signify challenges for sustainable water management and agricultural practices.

Resource Rents

1. Total natural resources rents (% of GDP): Romania's value is 0.509, which is significantly below the average of 4.63. This places Romania at rank 121 out of 175 countries in the dataset.

2. Coal rents (% of GDP): Romania's value for coal rents is 0.011, much lower than the average of 0.396. Romania ranks 40 out of 65 countries in this aspect.

3. Forest rents (% of GDP): Romania's forest rent value is 0.196, below the average of 1.53. This places Romania at rank 97 out of 174 countries.

4. Oil rents (% of GDP): Romania's oil rent value is 0.184, which is lower than the average of 2.51. Romania ranks 57 out of 117 countries in this category.

5. Natural gas rents (% of GDP): Romania has a natural gas rent value of 0.106, below the average of 1.25. Romania is ranked 50 out of 96 countries in this regard.

6. Mineral rents (% of GDP): Romania's mineral rent value is 0.012, significantly lower than the average of 1.23. In this aspect, Romania ranks 75 out of 86 countries.

Summary

Romania's natural resource rents, including coal, forest, oil, natural gas, and minerals, as a percentage of GDP are notably below global averages across various categories. Romania's rankings in these metrics also indicate a lower utilization or extraction of natural resources compared to many other countries worldwide. This is important as it suggests that Romania may have untapped potential in leveraging its natural resources for economic growth and development, or it could indicate a need for increased investment and focus on sustainable resource management practices.

Commodities

1. Cereal production (metric tons): Romania's cereal production of 18,153,430 metric tons is above the average of 17,249,945. Romania ranks 29th out of 174 countries in this attribute data.

2. Aquaculture production (metric tons): Romania's aquaculture production of 12,200 metric tons is significantly below the average of 679,642.92. Romania holds the 74th rank out of 180 countries in this category.

3. Capture fisheries production (metric tons): Romania's capture fisheries production of 7,972.88 metric tons is notably lower than the average of 467,453.06. Romania ranks 140th out of 190 countries in this attribute.

4. Total fisheries production (metric tons): Romania's total fisheries production of 20,172.88 metric tons is well below the average of 1,153,914.85. Romania holds the 126th rank out of 182 countries in this aspect.

5. Fertilizer consumption (kilograms per hectare of arable land): Romania's fertilizer consumption of 87.05 kg per hectare of arable land is below the average of 159.04 kg. Romania is ranked 98th out of 187 countries in this attribute data.

Summary

Romania displays strong performance in cereal production but lags behind in aquaculture, capture fisheries, and total fisheries production compared to global averages. The country also has lower fertilizer consumption per hectare of arable land than the average. These indicators are crucial for understanding Romania's agricultural sector's efficiency, sustainability, and competitiveness in the global market.

Intellectual Property

1. Industrial design applications, nonresident, by count: Romania had 369 applications, below the average of 1415.83. It ranked 51 out of 112 countries.

2. Industrial design applications, resident, by count: Romania had 543 applications, significantly below the average of 9799.58. It ranked 39 out of 113 countries.

3. Patent applications, nonresidents: Romania had 47 applications, well below the average of 6538.40. It ranked 83 out of 129 countries.

4. Patent applications, residents: Romania had 817 applications, significantly below the average of 19037.56. It ranked 38 out of 117 countries.

5. Trademark applications, nonresident, by count: Romania had 4484 applications, below the average of 15878.93. It ranked 73 out of 130 countries.

6. Trademark applications, resident, by count: Romania had 21143 applications, significantly below the average of 111055.78. It ranked 35 out of 129 countries.

7. Scientific and technical journal articles: Romania had 9710.46 articles, below the average of 15103.76. It ranked 42 out of 192 countries.

8. Charges for the use of intellectual property, payments (BoP, current US$): Romania had payments amounting to 886,842,442.49, well below the average of 3,218,843,494.39. It ranked 39 out of 143 countries.

9. Charges for the use of intellectual property, receipts (BoP, current US$): Romania had receipts amounting to 132,002,023.07, significantly below the average of 3,191,687,117.58. It ranked 40 out of 122 countries.

10. Researchers in R&D (per million people): Romania had 940.55 researchers, well below the average of 2556.45. It ranked 44 out of 72 countries.

Summary

Romania's performance in key macroeconomic indicators for intellectual property and innovation, such as industrial design applications, patents, trademarks, scientific articles, and R&D researchers, consistently falls below global averages and ranks comparatively low among countries. This suggests that Romania may need to focus more on enhancing its innovation ecosystem, investing in research and development, and promoting intellectual property rights to boost its economic competitiveness and growth in the global market.

Broad Economy Attributes

Analysis of key macroeconomic statistics for Romania:

GDP (current US$): Romania's GDP is $251.36 billion, which is below the average GDP of $442.87 billion. Romania is ranked 44th out of 189 countries in this indicator.

GDP, PPP (current international $): Romania's GDP, adjusted for purchasing power parity, is $660.70 billion, lower than the average of $734.14 billion. Romania ranks 34th out of 181 countries in this metric.

GDP per capita (current US$): Romania's GDP per capita is $13,047.46, below the average of $15,462.11. Romania is ranked 60th out of 190 countries for GDP per capita.

GDP per capita, PPP (current international $): Romania's GDP per capita, adjusted for purchasing power parity, is $34,294.66, higher than the average of $21,251.89. Romania ranks 43rd out of 181 countries in this indicator.

GNI (current US$): Romania's GNI is $247.57 billion, which is below the average of $452.04 billion. Romania is ranked 43rd out of 185 countries for GNI.

GNI, PPP (current international $): Romania's GNI, adjusted for purchasing power parity, is $650.73 billion, below the average of $730.70 billion. Romania ranks 34th out of 181 countries in this metric.

GNI per capita, PPP (current international $): Romania's GNI per capita, adjusted for purchasing power parity, is $33,780, higher than the average of $20,615.75. Romania is ranked 42nd out of 181 countries for GNI per capita.

Summary

Romania's key macroeconomic indicators show that while the country has a lower GDP, GNI, and GDP per capita compared to the global averages, it performs relatively better in terms of GDP per capita adjusted for purchasing power parity. This suggests that Romania's economic output and income levels are more competitive when considering the local cost of living, indicating potential for economic growth and development.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Romania's GVA is $227,992,889,713.27, ranking 41 out of 176 countries. This value is below the average GVA of $360,070,943,595.12.

2. Agriculture, forestry, and fishing, value added (% of GDP): Romania's value added in this sector is 4.18% of GDP, ranking 116 out of 182 countries. This percentage is below the average of 10.86%.

3. Agriculture, forestry, and fishing, value added (current US$): Romania's value added in this sector is $10,504,072,580.72, ranking 45 out of 182 countries. This value is below the average of $19,924,732,828.07.

4. Services, value added (% of GDP): Romania's value added in services is 59.98% of GDP, ranking 67 out of 183 countries. This percentage is above the average of 56.72%.

5. Services, value added (current US$): Romania's value added in services is $150,757,258,731.87, ranking 42 out of 183 countries. This value is below the average of $295,837,711,130.69.

6. Industry (including construction), value added (current US$): Romania's value added in this sector is $66,731,558,400.68, ranking 45 out of 183 countries. This value is below the average of $118,421,095,413.50.

Summary

Romania's Gross Value Added at basic prices (GVA) is below the global average, indicating potential areas for economic growth and development. The country's lower than average value added in the agriculture, forestry, and fishing sectors suggests the need for enhancing productivity and efficiency in these industries. Conversely, Romania performs relatively better in the services sector, indicating a potential competitive advantage to leverage for economic advancement.

Manufacturing Value Added

For Manufacturing, value added (current US$), Romania's value is $39,865,438,012.14, which is below the average of $76,207,179,589.66. Romania ranks 39th out of 173 countries.

Manufacturing, value added (% of GDP) in Romania is 15.86%, higher than the average of 11.90%. Romania ranks 44th out of 173 countries.

Medium and high-tech manufacturing value added (% manufacturing value added) in Romania is 39.49%, well above the average of 24.49%. Romania ranks 32nd out of 149 countries.

In terms of Food, beverages, and tobacco (% of value added in manufacturing), Romania's value is 13.69%, below the average of 24.51%. Romania ranks 66th out of 92 countries.

For Machinery and transport equipment (% of value added in manufacturing), Romania's value is 33.87%, significantly higher than the average of 16.85%. Romania ranks 12th out of 93 countries.

Textiles and clothing (% of value added in manufacturing) in Romania is 7.32%, slightly above the average of 6.33%. Romania ranks 24th out of 93 countries.

Other manufacturing (% of value added in manufacturing) in Romania is 45.12%, above the average of 42.13%. Romania ranks 35th out of 94 countries.

Summary

Romania has a mixed performance in key manufacturing indicators. While its Manufacturing value added ($39,865,438,012.14) falls below the global average, its value added as a percentage of GDP (15.86%) and in medium and high-tech manufacturing (39.49%) surpass the average. Romania excels particularly in Machinery and transport equipment, where its value added as a percentage of manufacturing is significantly higher at 33.87% compared to the global average of 16.85%. These indicators are crucial as they highlight Romania's strengths and weaknesses in its manufacturing sector, guiding potential areas for improvement and growth strategies.

Money

Analysis of Key Economic Indicators in Romania:

Summary

Romania's key economic indicators show that the country has relatively low inflation rates, with both consumer and GDP deflator inflation below global averages. However, Romania's broad money growth and broad money as a percentage of GDP figures are also below average, indicating a potential challenge in stimulating economic activity and investment. The low broad money to total reserves ratio further highlights constraints on the country's ability to finance its economic growth and manage external risks effectively.

These indicators are crucial as they provide insights into Romania's economic stability, growth prospects, and ability to withstand financial shocks. Understanding these metrics helps policymakers, investors, and analysts make informed decisions regarding investment, monetary policy, and overall economic strategy in Romania.

Consumption Expenditure

1. Final consumption expenditure (current US$): Romania's value is $200,516,589,098.19, which is below the average of $381,630,252,515.38. Romania is ranked 39 out of 159 countries in this attribute.

2. Final consumption expenditure (% of GDP): Romania's value is 79.77%, slightly below the average of 82.37%. Romania is ranked 82 out of 159 countries in this attribute.

3. General government final consumption expenditure (current US$): Romania's value is $46,921,742,548.05, which is below the average of $93,676,578,238.03. Romania is ranked 36 out of 158 countries in this attribute.

4. General government final consumption expenditure (% of GDP): Romania's value is 18.67%, slightly below the average of 18.71%. Romania is ranked 72 out of 158 countries in this attribute.

5. Household and NPISHs Final consumption expenditure (current US$): Romania's value is $153,594,846,550.14, which is below the average of $290,127,571,157.69. Romania is ranked 38 out of 158 countries in this attribute.

6. Households and NPISHs final consumption expenditure (% of GDP): Romania's value is 61.10%, slightly below the average of 63.68%. Romania is ranked 82 out of 158 countries in this attribute.

Summary

Romania's final consumption expenditure, both in absolute terms and as a percentage of GDP, is below the global average. This indicates that Romania may have lower domestic spending power compared to other countries. A lower general government final consumption expenditure suggests potentially limited public sector investment and services, while lower household final consumption expenditure may point to lower overall consumer spending and economic activity. These indicators are important as they provide insights into the country's economic health, government spending priorities, and the overall well-being of its citizens.

Equities

1. Listed domestic companies, total: Romania has 81 listed domestic companies, which is below the average of 636.625. This places Romania at rank 46 out of 72 countries in the dataset.

2. Stocks traded, total value (current US$): Romania's total value of stocks traded is 2,933,430,000 US$, significantly below the average of 1,379,501,820,182.91 US$. Romania ranks 39 out of 71 countries in this attribute.

3. Stocks traded, total value (% of GDP): Romania's value of stocks traded as a percentage of GDP is 1.17%, notably lower than the average of 31.65%. This places Romania at rank 46 out of 71 countries in the dataset.

4. Market capitalization of listed domestic companies (current US$): The market capitalization of listed domestic companies in Romania is 25,513,180,000 US$, well below the average of 1,196,037,851,618.88 US$. Romania ranks 45 out of 73 countries in this aspect.

5. Market capitalization of listed domestic companies (% of GDP): Romania's market capitalization of listed domestic companies as a percentage of GDP is 10.15%, significantly lower than the average of 71.24%. Romania ranks 67 out of 73 countries in this attribute.

6. S&P Global Equity Indices (annual % change): Romania's S&P Global Equity Indices show a -1.58% annual change, below the average of 2.06%. Romania ranks 39 out of 79 countries in this metric.

Summary

Romania lags behind the global average in key macroeconomic indicators related to its stock market performance. The country has fewer listed domestic companies, lower total value of stocks traded, market capitalization, and S&P Global Equity Indices compared to the average figures. This indicates a relatively smaller and less active stock market in Romania, which could impact its ability to attract investment, stimulate economic growth, and create wealth for its citizens.

Investment

Foreign direct investment, net (BoP, current US$): Romania's value is -$3.4 billion, significantly below the average of -$1.6 billion, ranking 140th out of 169 countries in the dataset.

Foreign direct investment, net inflows (BoP, current US$): Romania's value is $3.6 billion, lower than the average of $5.7 billion, ranking 40th out of 182 countries.

Foreign direct investment, net inflows (% of GDP): Romania's value is 1.43%, below the average of 2.61%, ranking 99th out of 178 countries.

Foreign direct investment, net outflows (BoP, current US$): Romania's value is $198.6 million, significantly below the average of $5.7 billion, ranking 60th out of 156 countries.

Foreign direct investment, net outflows (% of GDP): Romania's value is 0.08%, below the average of 1.00%, ranking 98th out of 155 countries.

Portfolio Investment, net (BoP, current US$): Romania's value is -$15.3 billion, significantly below the average of $679.6 million, ranking 155th out of 159 countries.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Romania's value is $12.4 billion, significantly above the average of $4.1 billion, ranking 3rd out of 59 countries.

Portfolio equity, net inflows (BoP, current US$): Romania's value is -$854.6 million, significantly below the average of $9.2 billion, ranking 107th out of 125 countries.

Summary

Romania demonstrates mixed performance in foreign direct investment and portfolio investment. While net inflows fall below global averages, the country stands out in portfolio investment bonds. These indicators are crucial as they reflect the attractiveness of Romania's market to foreign investors, showcasing areas for potential growth and highlighting strengths in certain investment sectors.

Debt

- Total debt service (% of GNI): Romania's value is 8.22%, which is above the average of 5.98%. It ranks 28th out of 120 countries in the dataset.
- Public and publicly guaranteed debt service (% of GNI): Romania's value is 1.78%, below the average of 2.84%. It ranks 66th out of 120 countries.
- External debt stocks (% of GNI): Romania's value is 57.51%, below the average of 65.42%. It ranks 52nd out of 120 countries.
- Debt service on external debt, total (TDS, current US$): Romania's value is $20.35 billion, above the average of $9.81 billion. It ranks 13th out of 123 countries.
- Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Romania's value is $4.41 billion, above the average of $3.31 billion. It ranks 19th out of 123 countries.
- External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Romania's value is $58.67 billion, above the average of $28.70 billion. It ranks 14th out of 123 countries.
- External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Romania's value is $64.53 billion, above the average of $33.73 billion. It ranks 10th out of 91 countries.
- External debt stocks, total (DOD, current US$): Romania's value is $142.39 billion, above the average of $73.85 billion. It ranks 14th out of 123 countries.

Summary

Romania's macroeconomic indicators related to debt service and external debt stocks show that the country has relatively high levels of debt compared to the global average. While Romania ranks in the top 30 for total debt service (% of GNI) and debt service on external debt, it also ranks significantly above average for external debt stocks across various categories. These statistics are important as they indicate the financial obligations and potential risks Romania faces in managing its debt levels and servicing its external debts, which could impact its economic stability and creditworthiness in the long run.

Broad Trade Attributes

Trade (% of GDP): Romania's trade as a percentage of GDP stands at 78.06%, which is below the average of 82.34%. Romania ranks 65th out of 163 countries in this category.

Merchandise trade (% of GDP): Romania's merchandise trade as a percentage of GDP is 64.79%, above the average of 60.01%. Romania holds the 55th rank out of 186 countries in this metric.

Trade in services (% of GDP): Romania's trade in services accounts for 17.32% of its GDP, lower than the average of 24.63%. Romania is ranked 78th out of 171 countries for this indicator.

External balance on goods and services (current US$): Romania's external balance on goods and services is at -10,823,630,204.77 USD. This is significantly below the average of 3,405,509,011.13 USD. Romania ranks 150th out of 163 countries in this aspect.

External balance on goods and services (% of GDP): The external balance on goods and services as a percentage of Romania's GDP is -4.31%, slightly better than the average of -5.97%. Romania holds the 87th position out of 163 countries in this category.

Summary

Overall, Romania has a high trade-to-GDP ratio, with a significant portion coming from merchandise trade. However, the country lags behind in trade in services and is facing a negative external balance on goods and services. These indicators are important as they reflect Romania's level of integration in the global economy, its trade competitiveness, and the impact on its overall economic stability.

Net Trade

1. Current account balance (BoP, current US$): Romania's current account balance is significantly below the average, ranking 159th out of 170 countries. This indicates a negative balance in international trade and financial transactions.

2. Current account balance (% of GDP): Romania's current account balance as a percentage of GDP is below the average, ranking 120th out of 170 countries. This suggests that the country may be relying more on foreign capital to finance its economy.

3. Net trade in goods and services (BoP, current US$): Romania's net trade in goods and services is considerably below the average, ranking 159th out of 171 countries. This reflects a deficit in the trade of goods and services.

4. Net primary income (BoP, current US$): Romania's net primary income is lower than the average, ranking 137th out of 170 countries. This implies that the country may have a lower income from investments and labor abroad.

5. Net secondary income (BoP, current US$): Romania's net secondary income is above the average, ranking 42nd out of 170 countries. This suggests that the country receives more funds in the form of aid, grants, or remittances.

6. Net trade in goods (BoP, current US$): Romania's net trade in goods is significantly below the average, ranking 162nd out of 171 countries. This indicates a trade deficit specifically in the exchange of goods.

7. Net capital account (BoP, current US$): Romania's net capital account is well above the average, ranking 3rd out of 159 countries. This points to a strong inflow of capital through investments, loans, or grants.

8. Net financial account (BoP, current US$): Romania's net financial account is significantly below the average, ranking 156th out of 170 countries. This suggests a deficit in the country's financial transactions with the rest of the world.

Summary

Romania exhibits significant deficits in its current account balance, net trade in goods and services, and net trade in goods, indicating challenges in international trade. The country's reliance on foreign capital, lower income from investments and labor abroad, and deficits in financial transactions raise concerns about its economic stability and sustainability. Despite receiving above-average net secondary income, Romania's overall macroeconomic indicators highlight the need for strategic reforms to improve trade balances and boost domestic productivity.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Romania's value of $99,783,897,667.94 is below the average of $146,238,908,936.30. Romania is ranked 38 out of 170 countries in this dataset.

2. Exports of goods and services (BoP, current US$): Romania's value of $93,024,309,666.56 is below the average of $122,938,540,059.78. Romania is ranked 38 out of 170 countries.

3. Exports of goods and services (current US$): Romania's value of $92,693,859,931.88 is below the average of $129,596,864,610.19. Romania is ranked 39 out of 163 countries.

4. Exports of goods and services (% of GDP): Romania's value of 36.88% is below the average of 38.19%. Romania is ranked 60 out of 163 countries.

5. Goods exports (BoP, current US$): Romania's value of $65,859,398,890.53 is below the average of $93,310,581,697.39. Romania is ranked 38 out of 171 countries.

6. International tourism, receipts (% of total exports): Romania's value of 1.73% is below the average of 9.74%. Romania is ranked 93 out of 120 countries.

7. ICT goods exports (% of total goods exports): Romania's value of 3.34% is below the average of 3.81%. Romania is ranked 34 out of 142 countries.

Summary

Romania's export performance across various indicators such as goods, services, and primary income is consistently below the global average, with rankings ranging from 34 to 93 out of numerous countries analyzed. This suggests that Romania may face challenges in maximizing its export potential and competitiveness in the global market, which is crucial for economic growth and international trade relationships.

Merchandise Exports

Analysis of Key Export Statistics for Romania:

1. Merchandise exports (current US$): Romania's merchandise export value is $70,718,000,000, ranking 38th out of 187 countries. This figure is below the average export value of $89,542,711,229.95.

2. Agricultural raw materials exports (% of merchandise exports): Romania's export percentage of agricultural raw materials is 1.20%, ranking 74th out of 151 countries. This percentage is lower than the average of 2.97%.

3. Food exports (% of merchandise exports): Romania's food export percentage is 11.14%, ranking 98th out of 152 countries. It is below the average of 24.06%.

4. Fuel exports (% of merchandise exports): Romania's fuel export percentage is 2.42%, ranking 82nd out of 147 countries. This percentage is lower than the average of 13.70%.

5. Ores and metals exports (% of merchandise exports): Romania's export percentage of ores and metals is 2.30%, ranking 91st out of 152 countries. It is below the average of 9.10%.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Romania's residual export percentage is 0.06%, ranking 112th out of 166 countries. This figure is significantly below the average of 3.20%.

Summary

Romania's key export statistics reveal a mixed picture: while its merchandise export value is significant at $70,718,000,000, the country falls below the global average export value. Romania also lags behind in the export percentages of agricultural raw materials, food, fuel, ores and metals. This indicates a potential overreliance on certain export sectors and suggests a need for diversification to enhance resilience and competitiveness in the global market.

Technology Exports

1. Manufactures exports (% of merchandise exports): Romania's value is 82.36%, significantly above the average of 42.62%. This places Romania at rank 17 out of 152 countries in the dataset.

2. High-technology exports (current US$): Romania's value is $6.98 billion, below the average of $16.66 billion. Romania ranks 30 out of 151 countries in this category.

3. High-technology exports (% of manufactured exports): Romania's value is 11.94%, slightly above the average of 10.15%. Romania ranks 44 out of 150 countries in this metric.

4. Medium and high-tech exports (% manufactured exports): Romania's value is 64.13%, significantly above the average of 34.29%. This places Romania at rank 22 out of 149 countries.

Summary

Romania demonstrates a strong presence in manufacturing exports, with a value of 82.36% which is well above the average. Additionally, its medium and high-tech exports contribute significantly to its economy, ranking 22 out of 149 countries in this category. These indicators are crucial as they showcase Romania's competitive edge in the global market, particularly in the manufacturing and technology sectors, positioning the country favorably for economic growth and development.

Service Exports

Service exports (BoP, current US$): Romania's service exports amount to $27,164,910,776.03, which is below the average of $28,917,292,503.82. Romania ranks 31 out of 171 countries in service exports data.

ICT service exports (BoP, current US$): Romania's ICT service exports stand at $7,015,995,146.42, surpassing the average of $4,578,501,153.77. Romania holds the 22nd rank out of 166 countries in ICT service exports.

ICT service exports (% of service exports, BoP): Romania's ICT service exports account for 25.83% of its total service exports, exceeding the average of 11.75%. The country ranks 17 out of 166 nations in this aspect.

Communications, computer, etc. (% of service exports, BoP): Romania's percentage in this category is 64.61%, higher than the average of 45.85%. Romania holds the 39th rank out of 169 countries in this sector.

Transport services (% of service exports, BoP): Romania's transport services represent 28.42% of its service exports, above the average of 21.80%. The country ranks 51 out of 169 nations for this attribute.

Travel services (% of service exports, BoP): Romania's travel services contribute 5.30% to its service exports, significantly lower than the average of 26.40%. Romania ranks 141 out of 167 countries in travel services.

Insurance and financial services (% of service exports, BoP): Romania's insurance and financial services in the service exports sector make up 1.67%, falling below the average of 6.46%. Romania holds the 121st rank out of 161 countries for this attribute.

Summary

Romania excels in ICT service exports, with a value of $7,015,995,146.42, comprising 25.83% of its total service exports. This percentage is significantly higher than the global average of 11.75%, positioning Romania at the 17th rank globally in this aspect. However, Romania lags behind in travel services, contributing only 5.30% to its service exports, well below the average of 26.40%, ranking 141st globally.

These findings are crucial as they highlight Romania's strength in the ICT sector, which can indicate a technologically advanced economy with potential for growth and innovation. Conversely, the low contribution of travel services signals a gap that could be explored to diversify the country's service export portfolio and reduce reliance on a single sector.

Commercial Service Exports

For Commercial service exports (current US$), Romania's value is $27,140,399,755.23, ranking 30th out of 171 countries. This is below the average of $28,508,218,402.80.

Travel services (% of commercial service exports) in Romania account for 5.31% of total exports, ranking 143rd out of 167 countries. This is significantly below the average of 27.89%.

Romania's Computer, communications, and other services (% of commercial service exports) stand at 64.58%, ranking 33rd out of 169 countries, which is above the average of 42.44%.

Insurance and financial services (% of commercial service exports) in Romania contribute 1.67% to total exports, ranking 122nd out of 161 countries. This is below the average of 6.97%.

Transport services (% of commercial service exports) in Romania make up 28.44% of total exports, ranking 55th out of 169 countries. This is above the average of 23.37%.

Summary

Romania's commercial service exports total $27.14 billion, ranking 30th globally, slightly below the average. The country relies heavily on computer, communications, and other services, comprising 64.58% of exports, above the average. Conversely, travel services contribute only 5.31%, significantly lower than the average. Understanding these ratios is crucial for Romania's economic diversification and competitiveness in the global market.

Broad Import Attributes

1. Romania's imports of goods and services amount to $103.52 billion, ranking 37th out of 163 countries. This value is below the attribute average of $126.19 billion.

2. Romania's imports of goods and services as a percentage of GDP is 41.18%, ranking 69th out of 163 countries. This percentage is slightly below the attribute average of 44.15%.

3. Romania's international tourism expenditures as a percentage of total imports stand at 3.34%, placing it at the 58th position out of 131 countries. This percentage is lower than the attribute average of 3.98%.

4. Romania's ICT goods imports as a percentage of total goods imports is 7.69%, ranking 42nd out of 143 countries. This percentage is higher than the attribute average of 6.85%.

5. Romania's goods imports amount to $87.53 billion, ranking 33rd out of 171 countries. The value is below the attribute average of $92.01 billion.

6. Romania's imports of goods and services stand at $103.89 billion, ranking 35th out of 170 countries. This value is lower than the attribute average of $120.32 billion.

7. Romania's imports of goods, services, and primary income amount to $114.55 billion, ranking 35th out of 170 countries. The value is notably below the attribute average of $144.51 billion.

Summary

Romania's import statistics reveal a consistent trend of below-average figures across various categories such as total imports, imports as a percentage of GDP, international tourism expenditures, and imports of ICT goods. This indicates that Romania may have room for potential growth and optimization in its import-related economic activities. Understanding these statistics is crucial for policymakers and investors to identify areas for improvement and strategic intervention to enhance Romania's economic performance and global competitiveness.

Merchandise Imports

Merchandise imports (current US$): Romania's merchandise imports amount to $92,132,000,000, ranking 34th out of 190 countries. This value is higher than the average of $89,385,605,263.16.

Manufactures imports (% of merchandise imports): Romania's manufactures imports account for 79.95% of its total merchandise imports, ranking 8th out of 152 countries. This percentage is higher than the average of 66.76%.

Agricultural raw materials imports (% of merchandise imports): Romania's agricultural raw materials imports make up 1.45% of its total merchandise imports, ranking 48th out of 152 countries. This percentage is slightly above the average of 1.27%.

Food imports (% of merchandise imports): Romania's food imports represent 10.56% of its total merchandise imports, ranking 116th out of 152 countries. This percentage is below the average of 15.89%.

Fuel imports (% of merchandise imports): Romania's fuel imports account for 5.22% of its total merchandise imports, ranking 127th out of 152 countries. This percentage is lower than the average of 11.38%.

Ores and metals imports (% of merchandise imports): Romania's ores and metals imports constitute 2.31% of its total merchandise imports, ranking 60th out of 152 countries. This percentage is slightly below the average of 2.57%.

Merchandise imports by the reporting economy, residual (% of total merchandise imports): Romania's residual merchandise imports account for 0.01% of its total merchandise imports, ranking 154th out of 180 countries. This percentage is significantly lower than the average of 2.51%.

Summary

Romania's key macroeconomic indicators show that the country heavily relies on manufactured goods, which account for a high percentage of its total merchandise imports. Conversely, Romania imports a lower percentage of its merchandise in food and fuel compared to the average among countries analyzed. These findings are important as they indicate Romania's strong industrial base but potential vulnerability in food and fuel security, highlighting areas for potential policy focus and economic diversification.

Service Imports

Service imports in Romania amount to $16,363,895,605.35, ranking 43rd out of 171 countries in the dataset. This value is below the attribute average of $27,615,356,170.47.

Communications, computer, etc. make up 59.24% of Romania's service imports, higher than the average of 44.40%. Romania ranks 40th out of 169 countries in this category.

Transport services represent 18.63% of Romania's service imports, ranking 137th out of 169 countries, below the average of 32.90%.

Travel services account for 18.81% of Romania's service imports, above the average of 14.14%. Romania ranks 43rd out of 169 countries in this aspect.

Insurance and financial services constitute 3.31% of Romania's service imports, below the average of 8.53%. Romania ranks 132nd out of 169 countries in this category.

Summary

Romania's service imports notably consist of a higher percentage of communications, computer, etc. services compared to the global average, positioning the country favorably in this sector. However, the lower representation of transport services and insurance/financial services in Romania's service imports compared to the global average indicates potential areas for improvement and diversification in the country's service imports profile. Addressing these shortcomings could lead to a more balanced and competitive service imports structure, enhancing Romania's overall economic resilience and competitiveness in the global market.

Commercial Service Imports

Commercial service imports in Romania amount to $16,298,260,570.54, ranking 43 out of 171 countries. This value is below the average of $27,102,746,128.60.

Computer, communications, and other services form 59.08% of Romania's commercial service imports. This percentage exceeds the average of 41.71%, securing Romania a rank of 37 out of 169 countries.

Insurance and financial services represent 3.32% of Romania's commercial service imports, falling below the average of 8.85%. Romania ranks 135 out of 169 countries in this category.

Transport services constitute 18.70% of Romania's commercial service imports, ranking 141 out of 169 countries. This percentage is below the average of 34.71%.

Travel services contribute 18.89% to Romania's commercial service imports, surpassing the average of 14.73%. Romania holds the 47th rank out of 169 countries based on this metric.

Summary

Romania's commercial service imports total $16,298,260,570.54, ranking 43 among 171 countries, below the global average of $27,102,746,128.60. The composition of Romania's imports is notable, with higher-than-average percentages in computer, communications, and other services as well as travel services, but lower-than-average percentages in insurance and financial services and transport services. This indicates a focus on sectors that contribute significantly to the economy, potentially driving innovation and growth, while also highlighting areas for potential improvement to enhance the diversity and resilience of Romania's commercial service imports.

Infrastructure

- Air transport, freight (million ton-km): Romania's value of 0.889 million ton-km is significantly below the average of 1384.37 million ton-km. It ranks 105th out of 126 countries in the dataset.
- Air transport, registered carrier departures worldwide: With 22125 registered carrier departures, Romania is well below the average of 134365.61 departures. It ranks 62nd out of 149 countries.
- Air transport, passengers carried: Romania transported 1,786,407 passengers, significantly lower than the average of 11,848,242 passengers. The country ranks 58th out of 149 countries.
- Container port traffic (TEU: 20 foot equivalent units): Romania's container port traffic of 643,025 TEU is notably lower than the average of 6,907,110.27 TEU. It ranks 77th out of 110 countries.
- Rail lines (total route-km): Romania has 10,769 total route-km of rail lines, slightly below the average of 12,204.74 km. The country ranks 15th out of 66 countries in the dataset.

Summary

Romania's performance in key macroeconomic indicators related to air transport, container port traffic, and rail lines is below global averages, indicating a relative underdevelopment in its transportation infrastructure compared to other countries. This could hinder the country's ability to efficiently move goods and people, impacting trade, tourism, and economic growth. Addressing these deficiencies in transportation infrastructure could be crucial for Romania to enhance its connectivity, competitiveness, and overall economic development in the long run.

Information Technology Infrastructure

Analysis of key statistics for Romania:

Summary

Romania's key macroeconomic indicators in the realm of digital infrastructure paint a mixed picture. While the country has a high number of secure internet servers per 1 million people and a relatively high percentage of the population using the internet, it falls below the global average in fixed broadband subscriptions and mobile cellular subscriptions.

These statistics are important as they highlight Romania's progress in digital connectivity and the potential areas for improvement. Enhancing access to fixed broadband and mobile cellular services could further boost internet penetration and facilitate greater connectivity, potentially driving economic growth and innovation in the country.

Energy Consumption

Regarding Renewable energy consumption in Romania, the country's value of 24.06% is below the average of 32.18%. Romania ranks 91 out of 191 countries in this dataset.

As for CO2 emissions in Romania, the country's emissions of 68,664 kt are significantly below the average of 171,896 kt. Romania holds a rank of 46 out of 188 countries for CO2 emissions.

Summary

Romania has a lower than average renewable energy consumption at 24.06% and significantly lower CO2 emissions at 68,664 kt compared to the global averages. Despite its lower position in renewable energy consumption and CO2 emissions ranking, Romania's performance indicates potential for further development towards sustainable energy practices, which is crucial for global environmental sustainability and reducing climate change impact.

Government Balance Sheet

Analysis of key macroeconomic indicators for Romania:

Summary

Romania's central government debt as a percentage of GDP is lower than the average, ranking at 37 out of 61 countries. However, its total reserves in relation to total external debt are significantly lower, putting Romania at rank 50 out of 102 countries. While Romania's reserves and related items surpass the average and rank 18 out of 171 countries, its total reserves minus gold fall short of the average, placing Romania at rank 38 out of 161 countries. The total reserves, including gold, are also below average, ranking at 39 out of 161 countries. Romania's total reserves in months of imports is lower than the average, at 5.47 months, ranking at 79 out of 151 countries.

These findings are important as they reflect Romania's financial stability and ability to meet its external financial obligations. The level of central government debt indicates the country's fiscal health, while the total reserves show its capacity to withstand external shocks and maintain liquidity. Romania's ranking compared to other countries provides context on where it stands globally in terms of these crucial macroeconomic indicators.

Government Revenue

Analysis of key statistics for Romania:

1. Revenue, excluding grants (% of GDP): Romania's value of 29.9978% is above the average of 27.0164%. It ranks 41st out of 122 countries.

2. Social contributions (% of revenue): Romania's value of 39.4932% is significantly above the average of 22.2890%. It ranks 8th out of 81 countries.

3. Taxes on goods and services (% of revenue): Romania's value of 32.6252% is slightly above the average of 31.8217%. It ranks 60th out of 122 countries.

4. Taxes on international trade (% of revenue): Romania's value of 0.0161% is significantly below the average of 6.2369%. It ranks 96th out of 101 countries.

5. Other taxes (% of revenue): Romania's value of 0.0103% is significantly below the average of 2.1231%. It ranks 100th out of 106 countries.

6. Taxes on income, profits and capital gains (% of revenue): Romania's value of 14.6328% is below the average of 24.6558%. It ranks 96th out of 119 countries.

Summary

In summary, Romania has a higher than average percentage of revenue from social contributions and slightly higher than average taxes on goods and services. However, it has significantly lower percentages of revenue from taxes on international trade and other taxes. Additionally, Romania's revenue, excluding grants, is above average. These statistics are important as they reflect Romania's reliance on social contributions for revenue and its less burdensome taxation on international trade and other taxes compared to other countries, potentially impacting its economic competitiveness and fiscal sustainability.

Taxes

1. Tax revenue (% of GDP): Romania's tax revenue as a percentage of GDP is 14.18%, below the average of 16.72%. This places Romania at rank 74 out of 123 countries in the dataset.

2. Customs and other import duties (% of tax revenue): Romania's custom and import duties as a percentage of tax revenue is 0.034%, significantly below the average of 9.01%. Romania ranks 93 out of 99 countries for this metric.

3. Taxes on income, profits and capital gains (% of total taxes): Romania's taxes on income, profits, and capital gains account for 30.95% of total taxes, lower than the average of 38.40%. The country ranks 82 out of 120 countries in this category.

4. Tariff rate, applied, weighted mean, all products (%): Romania's weighted average tariff rate on all products is 1.48%, well below the average of 5.21%. Romania ranks 133 out of 153 countries in this aspect.

Summary

Romania demonstrates a lower than average performance in key macroeconomic indicators such as tax revenue, customs and import duties, taxes on income, profits, and capital gains, and tariff rates. These indicators reflect a relatively lower level of government revenue generation through taxes and tariffs compared to the average of other countries in the dataset. This could indicate potential challenges in funding government operations, infrastructure development, and social services, which may impact Romania's economic growth and competitiveness in the global market.

Government Expenses

1. Expense (% of GDP): Romania's expense as a percentage of GDP is 37.86%, which is above the average of 31.69%. Romania is ranked 37th out of 123 countries in this attribute.

2. Compensation of employees (% of expense): Romania's compensation of employees as a percentage of expense is 22.32%, below the average of 24.70%. Romania is ranked 63rd out of 123 countries in this attribute.

3. Goods and services expense (% of expense): Romania's goods and services expense as a percentage of total expense is 8.58%, below the average of 14.77%. Romania is ranked 85th out of 122 countries in this attribute.

4. Interest payments (% of expense): Romania's interest payments as a percentage of expense is 3.65%, below the average of 6.85%. Romania is ranked 75th out of 121 countries in this attribute.

5. Other expense (% of expense): Romania's other expense as a percentage of total expense is 2.91%, below the average of 8.29%. Romania is ranked 100th out of 120 countries in this attribute.

6. Subsidies and other transfers (% of expense): Romania's subsidies and other transfers as a percentage of total expense is 36.08%, below the average of 43.29%. Romania is ranked 73rd out of 121 countries in this attribute.

Summary

Romania's expense as a percentage of GDP is relatively high, ranking 37th among 123 countries. However, the country allocates a lower proportion of its expense towards compensation of employees, goods and services, interest payments, other expenses, and subsidies compared to global averages, ranking between 63rd and 100th in these categories. These indicators are crucial as they reflect the government's fiscal policy priorities, resource allocation, and potentially its economic competitiveness and sustainability.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Death rate, crude (per 1,000 people) 6/192
Portfolio investment, bonds (PPG + PNG) (NFL, current US$) 3/59
Net capital account (BoP, current US$) 3/159
Manufactures imports (% of merchandise imports) 8/152
Social contributions (% of revenue) 8/81

Ranks in Bottom Decile For:

Attribute Rank/Total
Market capitalization of listed domestic companies (% of GDP) 67/73
Portfolio Investment, net (BoP, current US$) 155/159
External balance on goods and services (current US$) 150/163
Current account balance (BoP, current US$) 159/170
Net trade in goods and services (BoP, current US$) 159/171
Net trade in goods (BoP, current US$) 162/171
Net financial account (BoP, current US$) 156/170
Taxes on international trade (% of revenue) 96/101
Other taxes (% of revenue) 100/106
Customs and other import duties (% of tax revenue) 93/99