Romania: Market overview
Table of Contents
Source: Statistics Canada
Note: Data on Canada-Romania service trade and Romanian Direct Investment in Canada is not available.
2015 Trade and Investment between Romania and Canada (C$, Millions)
|Trade and Investment||C$, Millions|
|Canadian Merchandise Exports to Romania||$85.4|
|Canadian Merchandise Imports from Romania||$269.4|
|Canadian Direct Investment in Romania||$146.0|
Why Romania Matters
- Romania is Canada’s 21st largest market in the EU for merchandise exports,Footnote 1 and is the 17th largest economy in the EU.Footnote 2
- Romania has strength in high technology and manufacturing in the automotive production and assembly sector and in production of automotive parts.
- Romania’s growing Information Technology sector, with a focus on human resources, presents investment opportunities.
How to export to Romania
Read the guide Exporting to the EU.
Sectoral Opportunities in Romania
Romania’s agricultural machinery sector has declined since 1990, but the country remains one of the highest-producing European Union (EU) countries for wheat and cereal. New records for wheat and rye were set in 2015, totalling almost 8.0 million tonnes.Footnote 6 Ageing equipment will require modernisation and Canadian farming and agricultural machinery businesses could stand to benefit by investing or exporting to Romania. The country benefits from EU funds to boost this sector which may offer particular opportunities for interested Canadian partners.
Romania has a dynamic automotive sector that benefits from high technical skills, existing foreign investment, and a history of industrial manufacturing. In 2015, according to the Automotive Manufacturers and Importers Association, 387,177 vehicles were produced or assembled in Romania.Footnote 7 The country hosts an attractive production portfolio for automotive components, including Bosch, Continental, Daimler, Michelin, Pirelli, Magna, and Yazaki. There may be potential for investment from Canada in this sector.
Romania has committed to the NATO requirement of spending 2% of GDP on defence in the period 2017 - 2027. The Romanian Ministry of Defence intends to invest in approximately 700 armoured personnel carriers and light armoured vehicles for its land forces, in multi-role aircrafts and long range air defence capabilities for its air forces, as well as in multi-functional corvettes and mine hunters for naval purposes. The local defence industry is becoming an emergent priority for the country on both a strategic and tactical level, and seen as a way of boosting the local economy.
Information and Communications Technology (ICT)
Romania is a source of well-trained, multi-lingual and cost-effective human resources, making it an attractive destination for companies in such sectors as Business Process Outsourcing (BPO), Information Technology Outsourcing (ITO) and Shared Service Centres (SSCs). Canadian companies with technologies and solutions tailored to these sectors may find business opportunities there. For those in the BPO, ITO and SSC industries could benefit by investing in Romania.
Oil and Gas
Romania contains south-eastern Europe's most significant oil and gas reserves and has surplus refining capacity. The country has extensive existing infrastructure, attractive prospective geology and strategic location within the European energy market, all these adding to the positive focus of the Romanian petroleum industry. 12 of the 20 largest energy companies are from the oil and gas sector, amounting to a revenue of over 17 billion euros (CAD $ 25.5 billion) in 2015.Footnote 8
For more information on trade and investment in Romania, contact your Trade Commissioner in Bucharest, Romania.
The Trade Commissioner Office in Bucharest also covers Bulgaria and Moldova (non EU-state).
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- Footnote 6
National Institute of Statistics of Romania; data in Romanian
- Footnote 7
Information based on National Institute of Statistics of Romania; data in Romanian
- Footnote 8
Romanian Petroleum Exploration and Production Companies Association
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