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Economy and Banking Sector of Romania

National Currency

Romanian New Leu (RON)

Exchange Rate

1 EUR = 4.8758 RON (2020-10-21)

During the last 9 years EURRON exchange rate was within the range 4.2321 - 4.7608, reaching its maximum in Mar 2019 and falling to its minimum in Aug 2011.

Euro to Romanian new leu (EURRON).

Chart 1. Euro to Romanian new leu (EURRON). Source: ECB.

GDP

Nominal GDP (2019)
223.3 bln EUR  (+0.09%)
Nominal GDP per Capita (2019)
11,500 EUR  (+0.10%)
Real GDP Growth (2019)
4.1 % (unchanged)

According to Eurostat, nominal GDP of Romania in 2019 was 223.3 bln EUR.

Romania outperforms the European Union in terms of real GDP growth with the average annual differential coming to 1.8% over the past 10 years (2009 - 2019). In 2019 real GDP growth was 4.1% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Real GDP growth in 2020 - 2024 are IMF's estimates.

Real GDP Growth in Romania.

Chart 2. Real GDP Growth in Romania. Source: Eurostat, International Monetary Fund.

In 2019, nominal GDP per capita in Romania was 11,500 EUR.

Romania has a below-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, fell behind that of the European Union by -32.8% over the past 10 years (2008 - 2018). GDP per capita at PPP in 2019 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Romania; European Union = 100.

Chart 3. GDP Per Capita at Purchasing Power Parity in Romania; European Union = 100.

Inflation Rate

CPI, MoM (Apr 2020)
0.3 %  (Mar 2020: 0.4 %)
CPI, YoY (Apr 2020)
2.3 %  (Mar 2020: 2.7 %)
CPI, Year Average (2019)
3.9 %  (2018: 4.1 %)

According to Eurostat, inflation rate in Romania in 2019 expressed as annual percentages of average consumer prices was 3.9% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Inflation rates in 2020 - 2024 are IMF's estimates.

Inflation Rate in Romania.

Chart 4. Inflation Rate in Romania. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2019)
3.9 %  (2018: 4.2 %)

According to Eurostat, unemployment rate in Romania in 2019 was 3.9% which was below the Euro Area average (7.6%) and below the European Union average (6.3%). Unemployment rates in 2020 - 2024 are IMF's estimates.

Unemployment Rate in Romania.

Chart 5. Unemployment Rate in Romania. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Apr 2020)
4.83 %  (Mar 2020: 4.56 %)

According to Eurostat, government bond yield in Romania in April 2020 was 4.83%, compared to 4.56% in March 2020.

Government bond yield of Romania.

Chart 6. Government bond yield of Romania. Source: Eurostat.

Credit Ratings (as of Aug 2020)

Fitch
BBB- (good credit quality), outlook negative
Moody's
Baa3 (lower medium grade), outlook negative
Scope
BBB- (lower medium grade), outlook negative

Romania has sovereign credit ratings assigned by American credit rating agencies Fitch and Moody's: the rating set by Fitch is BBB- (good credit quality), outlook negative; the rating set by Moody's is Baa3 (lower medium grade), outlook negative. Scope Ratings, the European rating agency, rated Romania as BBB- (lower medium grade), outlook negative.

Fitch and Moody's rating data are provided for June 2020, Scope Ratings for August 2020.