Forecast: 2023, Record Year for Romanian Agriculture


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The turnover of Romanian agricultural companies registered the second largest nominal annual increase in the last 10 years of over lei 8 billion, reaching the historical maximum of lei 68 billion in 2022, being 48% higher than in 2018, according to the annual KeysFin study study “Romanian Agricultural Sector”.

For 2023, KeysFin analysts estimate the continued growth of the sector and thus exceeding the record level reached in 2022, close to the lei 80 billion threshold, based on the persistence of inflationary pressures and the estimated increase in annual crop production of 24%, the third largest annual advance among member states as forecast by the General Directorate for Agriculture and Rural Development from the European Commission this year.

Although for 2023 we estimate the continuation of the sector growth, we point to the need to prioritize investments in infrastructure and modernization of this sector, so that Romania remains a net exporter of agricultural products*, after in the year of the pandemic it became a net importer for the first time in the last 10 years. As a strategic direction, we should follow the example of Poland, namely, to invest in processing, so that in the long term we have a positive balance of international trade with agri-food products, which has a higher added value“, said Diana Florescu, economic analyst KeysFin, one of the most important providers of business information solutions in Romania.

Agricultural Leaderboard

Regarding the top of the largest agricultural companies, REGIA NATIONALA A PADURILOR ROMSILVA continued to occupy the leading position in 2022, after the largest annual nominal increase in top 20 of lei 831 million, to lei 3.1 billion (4.6% of the total). On the 2nd and 3rd places, by turnover, were PROMAT COMIMPEX SRL with lei 1.65 billion and AGRO-CHIRNOGI SA with lei 1.6 billion in 2022.

The largest annual percentage advances in top 20 of 185% and 136%, respectively, were recorded by EUROSEMAGRO COMPANY SRL and AGROPEC DIONIS SRL, companies that also recorded the largest increases in top 20, up 25 and 15 positions, respectively.

Over 2-Fold rise of the net result from 2028

According to KeysFin specialists, the number of companies that reported their financial results in 2022 remained close to that of the previous year, namely 26.5 thousand companies (based on data extracted in September 2023).

The net result increased by 13% compared to 2021 and was 131% above that of 2018, to the record level of over lei 9.2 billion in 2022.

Of the 26.5 thousand companies that reported their financial results, about 16.7 thousand made a profit (63%), 7 thousand were at a loss (26.3%) and the rest recorded a zero result in 2022.

Local crop production

As a direct impact of the transmission of inflationary pressures, the value of crop production in the European Union increased by 15% in 2022 compared to the previous year, despite the decrease in harvested volumes according to Eurostat data: grain maize (-29%), sunflower (-11%), soybeans (-8.1%) and wheat (-3.1%), rape being among the few crops that registered an annual advance (+14.5%).

Romania had the second lowest increase in the value of crop production in the European Union, of 1.1% and dropped to 7th place in the EU, with 5.3% of the total, being surpassed by the Netherlands which recorded 5.7% of total in 2022.

Regarding wheat production at the EU level, Romania remained in 4th place, with 6.5% of the total and a harvest of 8.7 million tons in 2022.

Romania continued to be the leader in terms of the cultivated area of corn among the member states of the European Union, but with an annual 8 million tons production was 3rd  after France and Poland.

In addition, Romania was the second largest sunflower producer in the EU, with a harvest of 2.1 million tons in 2022.

International agricultural trade surplus of EUR 800 M in 2022

The value of international agricultural trade (exports plus imports) increased by 30% compared to 2021 and was 82% above the 2018 level, to euro 16.3 billion in 2022, according to data from the National Institute of Statistics.

In 2022, Romania remained a net exporter of agricultural products after being a net importer in the pandemic year for the first time since 2010, registering an agricultural trade surplus (exports minus imports of products from Sections I, II and III of the Combined Nomenclature) of euro 800 million, 28% below the one recorded in 2021.


The Romanian Agricultural Sector study covers all companies that reported their annual results to the Ministry of Finance and had as their main area of activity one of the following NACE groups: Plant and animal husbandry – 011, 012, 013, 014, 015, 016, 017; Fisheries – 031, 032 and Forestry – 021, 022, 023, 024.

2022p – the data was extracted in September 2023 and may be subject to change by the end of the year.

*Agricultural products covered by Sections 1,2 and 3 of the Combined Nomenclature, i.e., I. Live animals and animal products, II. Plant products and III. Animal or vegetable fats and oils.

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