The Romanian economy weathered the 2020 COVID-19 storm better than many others in the EU. Restrictions were less severe than elsewhere during the winter, and so the full-year contraction of GDP remained below 4%. The recovery in 2021 will not be fast (+3.8%), owing to protracted lockdowns and austerity measures in the government budget. Huge inflows of EU funds could boost investment in the coming years.

map Romania
Main Economic Indicators201820192020202120222023
Population, 1000 persons194741937219300...
GDP, real change in %4.54.1-
GDP per capita (EUR at PPP)198302169021250...
Gross industrial production, real change in %3.5-2.3-9.2...
Unemployment rate - LFS, in %, average4.
Average gross monthly wages, EUR93610231067...
Consumer prices, % p.a.
Fiscal balance in % of GDP-2.9-4.4-9.3...
Public debt in % of GDP34.735.347.3...
Current account in % of GDP-4.6-4.9-5.2-5.0-4.6-3.9
FDI inflow, EUR m620565742255...
Gross external debt in % of GDP48.849.257.7...

Basic data are continuously updated.

* Forecasts are changed beginning of April, July and November.
See Press Conferences.


ROMANIA: Modest slowdown, moderate recovery

Gabor Hunya
in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 110-113
Details and Buy


Monthly Report No. 5/2020

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures