Romania Economy 2022

 Romania’s nominal GDP is about  315 billion USD. Romania’s population of 19 million  people is shrinking by more around 0.7% annually,mainly due to people moving abroad.Every woman gives birth to around 1.6 children.The country’s gross national income  in 2020 was 12,580 dollars per capita.Now let’s take a look at the Romanian labor force.While about a fifth is employed in the agricultural sector,the majority of the workforce is employed in the service sector and three out of ten people in industry.The unemployment rate was  recorded at 5.2% in November 2021.Romania exported goods worth $71 billion,while importing goods worth $92 billion,and therefore recorded a trade deficit  of $21 billion dollars in 2020.The country’s top trading partners are Germany, Italy, France,Hungary, Poland and Bulgaria.Overall, considering both goods and services,exports accounted for 37.3% of Romania’s GDP,while imports were equal to 41.7% of GDP.Thus the trade deficit amounts to 4.5% of GDP.Romania’s government debt is  equivalent to 47.3% of gross domestic product.Romania’s economy grew at an  average annual rate of 3.8% in the past five years and the International Monetary Fund forecasts 4.8% growth in 2022.

 

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