Flag of Romania>

Economy and Banking Sector of Romania

Romania
Location
Southeastern Europe
EU Status
member since 2007

Romania is a country in Southeastern Europe, a member of the European Union since 2007.

Currency
RON (Romanian new leu)
Population  (2017)
19 644 350  (-0.01%)
Nominal GDP (2017)
187.9 bln EUR  (+0.10%)
Credit Ratings (as of May 2018)
BBB-/Baa3

Romania is an upper-middle income country with main industries being electric machinery and equipment, auto assembly, textiles and footwear, light machinery, metallurgy, chemicals, food processing, petroleum refining, mining, timber, construction materials.

Romania signed 80 double taxation agreements.
Romania signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Romania has FATCA agreement with the U.S. in effect since 28 May 2015 (Intergovernmental Agreement Model 1).

Number of Banks
38
Consolidated Banking Assets (2016)
88 202.04 mln EUR  (+4.32%)
Deposit Guarantee
100 000 EUR

The banking sector of Romania is highly concentrated and is dominated by foreign-controlled banks. Banks in Romania operate as universal banks.

See Also