Thursday, 13 August 2015
How is the Romanian economy doing in 2015? Solid growth, increasing consumption and dynamic economy
The Romanian economy is one of the most dynamic economies in the European Union. With a population of approx. 21 million, Romania is an emerging EU member-state market with a solid financial system (own stable currency) and stable democratic political system.
The Q1 2015 GDP rose 1.6% compared to Q4 2014 and 4.3% compared to Q1 2014. The forecasts for the GDP growth this year are for a y-t-y increase of about 4%. Inflation is negative and the unemployment rate registered 7.4% in the first quarter of this year.
The construction sector has grown 10.9% in the first half of 2015 compared with the same period of 2014. Also, in the first half of 2015, industrial production registered a rise of 2.9%, while consumption of food and beverages increased 11.5% in H1 2015 vs. H1 of 2014 (22% in the month of June 2015 vs. June 2014).
In the medical sector, in 2014 are 20% more private hospitals in 2013 and, as there is no production in Romania, almost 90% of medical decices and equipment is imported.
In the automotive sector, registrations of new cars rose more than 21% in 2014 vs. 2013. About 34,500 new vehicles were registered in the first half of 2015, increasing by 10.40% over the same period last year. In June 2015, registrations of new cars was up 24.23% compared to June 2014. As for automotive production, in June 2015 there were 34,790 vehicles produced in Romania, a 1.9% more than the previous month, bringing the total production to 212,433 units in the first six months of 2015, up 0.9% compared with the same period of last year.
As imports of wine, according to provisional data DataComex, imports of wine in containers holding more than 2 liters capacity (in bulk, box etc.) in Romania from Spain have been approximately 3.77 million euros in the first four months of 2015, representing an increase of 206% compared with the first four months of 2014, while imports of wine in containers under or equal to 2 liters in Romania from Spain have exceeded 461 thousand in the first four months of 2015, representing an increase of almost 120% compared with the first four months of 2014.
For more details about the opportunities for investment and export to Romania, as well as for B2B matchmaking with local players and tailored market data and analysis, feel free to contact us at firstname.lastname@example.org or phone +4021 411 1459 / 60 / 61
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