BNR: Half of Romania’s GDP is Generated by 7 Cities

By Romania Journal Last updated May 17, 2024

Get real time updates directly on you device, subscribe now.

Romania has annually closed an average of two percentage points of the gap with the European average. In 2000, Romania’s GDP per capita (at purchasing power parity) stood at around 25% of the EU average, but currently, this figure exceeds 75%, said Csaba Balint, a member of the Board of Director of the National Bank of Romania.

An important role was played by the dynamic increase in labor productivity, Balint believes, and Romania had the fastest growth in the CEE region.

This positive trend was largely supported by economic restructuring: in 2000, almost 45% of the employed population was involved in agriculture, followed by industry (22%) and market services (21%). currently, the weight has shifted significantly towards market services with a much higher added value. Within the services sector, certain categories such as IT&C have shown exceptionally fast growth. If we analyze the share of the added value of the IT&C segment in the national economies, Romania is in the top 5 of the EU countries.

In addition to the country’s capital, there are numerous regional economic centers – such as Cluj-Napoca, Timișoara, Brașov, Iași, Constanța or Craiova, which play an important role in development. The seven most important economic poles in Romania contribute to more than 50% of the national GDP.

All counties in Romania have made significant progress in the last almost two and a half decades in terms of GDP per capita, but regional disparities have increased, said the BNR expert.

In the current global context, characterized by uncertainty and major structural changes, Romania must be prepared to respond to some challenges: the aging of the population, the transition to a green economy, digitization, geopolitical tensions and global fragmentation, as well as the impact of artificial intelligence, with all its aspects positives and associated risks, the economist concluded.

DONATE: Support our work

In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:

Donate with PayPal

Donate by Bank Wire

Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002