Business29 October 2018

Romania registers the biggest economic growth in the European Union. What are the sectors in worth investing in?

According to data published by the National Institute of Statistics, Romania recorded the highest economic growth in the EU in the second quarter of this year, the progress being largely attributed to strong consumption but also to the development of the industrial sector

Romania registers the biggest economic growth in the European Union

Romania registers the biggest economic growth in the European Union

Romania is developing and the rhythm is quite alert. True, if we are to make a detailed analysis of the country’s progress there are many aspects that require attention, leaving enough room for improvements, but overall things seem to go in a positive direction. The rapid manner in which information and know-how flows get distributed at a global level  have allowed Romania to burn some stages and helped it become an important economic player on a regional as well as on a European level. With a 5,7% economic growth rate in the second trimestre of 2017, Romania is a country that consumes a lot, both when it comes to products and especially when it comes to services, food or clothing businesses should generally have a guaranteed success in Romania.

However, it seems that the domestic market has begun to demand and consume on an increasingly larger scale, the unexpected growth of the country’s industry being also associated with domestic demand. Surprisingly, agriculture or real estate had only small increases during the trimester analyzed, while construction actually went down. Instead, the services sector registered a steep, but expected growth, especially on the tourism side. In spite of this, imports continue to grow and exports are not at a very high level, a sign that Romania does not yet produce at a sufficiently large scale to cover domestic needs. That is why domestically-oriented businesses may experience ever greater success in the future.

Small, local, consumer-friendly businesses also seem to be a safe investment bet in Romania, while another interesting opportunity may be the high-tech sector, where the country is increasingly present on the international market, especially in the area of software and IT products.  

Sources: (photos)    

Claudiu Bolcu




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