Romania’s economy is the 19th most complex and sophisticated in the world and should register an average growth of 2.9% until 2030, according to an analysis carried out by experts from Harvard University. It is the best position occupied by Romania since 2000, when the analysis was carried out. Romania’s rise in this ranking is important, considering that our country ranked 39th in 2000. The complexity indicator analyzes both the degree of development of the country and the products and services produced and exported by a country. The most recent data included is for 2020, the first year of the pandemic. In the 1990s, Romania was known internationally as a producer and exporter of products with minimal added value. In recent years, the automotive, electronics and IT industries have developed and the economy has become more complex. According to The Atlas of Complexity, the world’s most sophisticated economies are Japan (1st place), Switzerland (2nd), Germany (3rd), South Korea (4th) and Singapore (5th). The countries in the region are also doing very well, the Czech Republic being sixth and Hungary ninth. Poland, on the other hand, the most developed economy in the region, is on 26th, another proof that not only the size of the GDP matters. In total, over 130 countries from all over the world are analyzed. “Romania is a country with above-average incomes, it is the 44th richest economy by GDP/capita among the 133 studied. In the last five years, GDP/capita grew by an average of 3.9%, above the region’s average,” the analysis states. Harvard economists estimate that the growth rate of the Romanian economy will reach an average of 2.9%/year until 2030. Also, GDP/capita will increase by 3.5%. “Growth will be achieved by using current successes and acquired know-how to develop the production of more complex goods. Currently, Romania is the 19th most complex economy, according to the Economic Complexity Index (ECI). Compared to a decade ago, the economy has become more sophisticated,” is one of the conclusions of the analysis.
The industrial and logistics hubs developed by Transilvania Construcții serve top industries such as building materials, automobiles, food, IT, medical, and pharmaceutical, according to internal company statistics. Strategically developed in the Western and Eastern parts of the country, the company offers supply chain projects with more than 250,000 rentable m2 in 83 industrial and logistic […]
Bucharest, 02 April 2024 – KIKO Milano, part of Fais Group, opens the first store in Romania, in ParkLake Shopping Center. This inauguration marks the first episode of the company's expansion on the Romanian market. The grand opening of the first KIKO Milano store in ParkLake sparked an unforgettable excitement and buzz. The long-awaited moment […]
MedLife, the largest private medical service network in Romania, announces that another multiple champion is joining the first free genetic testing program for children who have been recently diagnosed with cancer, #SperanțaNuMoareDeCancer, as Ambassador of Hope. Beatrice Câșlaru, whose name is representative in the history of Romanian swimming, donated her first European medal, as a […]
The Great Book of Water, an educational tool by Denise Pouleurs that aims to help children aged ten and above understand information related to the importance of water, its role in nature, and especially the simple and practical measures through which anyone can contribute to water conservation, is also available in Romanian starting this month. […]
The web documentary "Pride and Concrete. After 10 Years" has been nominated for the European Press Prize in the Migration Journalism category. The documentary “tells a decades-long story about the hopes, ambitions, and sufferings of a whole community. These people have sacrificed the comfort of a hard-earned life in Western Europe for the sake of […]
German group Bosch inaugurated the second office building of its Engineering Center in Cluj, Romania, following an investment of roughly EUR 21 million implemented over three years. The total investment in the two buildings of the center in Cluj, started in 2017, amounts to over EUR 50 million. The new building, whose construction began in […]
