Romania - Market Overview Romania - Market Overview
Romania is a market with vast potential, a strategic location, though with a challenging business climate. Its economy is among the EU’s fastest growing; 6.9% growth in 2017 (the highest since 2008) and 4.1% growth in 2018 (slightly slower growth, but still very fast). While this growth is primarily driven by consumption, the business is growing in nearly every sector.
Romania is eligible to receive approximately €43 billion ($57.1 billion) in EU funding for the 2014-2020 programming period, but Romania’s lack of institutional capacity has limited its ability to effectively absorb these funds. Bilateral trade in goods between Romania and the United States amounted to $3.70 billion in 2018, with $2.59 billion in Romanian exports to the United States and $1.11 billion in U.S. exports to Romania.
This report is intended to aid American companies in developing and executing new and increased sales to this important and promising – yet still transitional – EU market.