Romania buildings

Romania Imports

Romania Imports

Imports in Romania

The economy of Romania recorded average imports growth of 9.2% in the decade to 2022. In 2022, imports growth was 10.5%. For more imports information, visit our dedicated page.

Romania Imports Chart

Note: This chart displays Imports (G&S, ann. var. %) for Romania from 2013 to 2022.
Source: National Institute of Statistics Romania.

Romania Imports Data

2018 2019 2020 2021 2022
Imports (G&S, ann. var. %) 8.6 8.6 -5.2 14.8 9.9

Economic growth accelerates in Q3

According to a preliminary estimate, growth sped up in the fourth quarter, coming in at 2.9% on an annual basis (Q3: +1.1% yoy). This brings growth for 2023 as a whole to 2.0%. A full breakdown will not be available until 8 March. On a seasonally adjusted quarter-on-quarter basis, the economy contracted 0.4% in Q4 (Q3: +0.8% qoq s.a.).

Going ahead, the should will grow at a faster pace this year than last owing to stronger momentum in household spending, fixed investment and exports, as well as a rebound in industrial production. Key factors to monitor are fiscal metrics and the renegotiation of the National Recovery Plan with the EU, while slower-than-expected progress on key reforms is a downside risk

Commenting on the outlook, Stefan Posea and Valentin Tataru from ING stated: “The 2.0% real GDP growth in 2023 is somewhat better than recent expectations, but well below potential and it confirms National Bank of Romania’s latest assessment of further contraction of excess aggregate demand. This will continue into 2024 for which we maintain our 2.8% GDP growth estimate, as the public investment engine is likely to get some help from private consumption as well. Monetary policy easing might help in the second half of the year, but in our view, the bigger issue is that GDP growth rates of 4.0-5.0% – that were business as usual just a short while ago – might become daring targets in the future.”

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Romanian imports projections for the next ten years from a panel of 19 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable imports forecast available for Romanian imports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Romanian imports projections.

Want to get access to the full dataset of Romanian imports forecasts? Send an email to info@focus-economics.com.

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