Promising industries in Romania

— Press release —

Romania is still considered to be one of the most important economic partners for Germany. After solid growth in 2021 the economic situation in Romania has worsened in 2022 due to high inflation rate. According to the forecasts, the situation will only improve in 2023. The positive trend will be observed in GDP growth. It is expected to increase by 1% in 2023. Investments, first of all in infrastructure, are the most important source of development for Romania. Digitalization and modernization of Romania's energy supply are the areas that are currently in focus. In the period from 2021 to 2027, the country could receive 80 billion for these purposes. The war in Ukraine has worsened the outlook. Nevertheless, Romania remains a promising country for nearshoring. According to the Vienna Institute for International Economic Studies, investment in equipment will increase by 3 per cent in 2022 and by 6 per cent in 2023. In 2022 the low unemployment rate and the workforce shortage will characterize certain industries such as manufacturing, hospitality, transportation and logistics.

(Source: GTAI, Europäische Kommission)