In 2023, EU exports of medicinal and pharmaceutical products to countries outside the EU went down by -3.5% when compared with 2022. On the other hand, EU imports increased by 6.1% in 2023. In 2023, exports reached €277 billion, while imports stood at €119 billion. Consequently, the EU's trade surplus in medicinal and pharmaceutical products amounted to €158 billion, marking the second-highest figure ever recorded, following the peak in 2022 at €174 billion. In 2023, Germany was the EU’s largest extra-EU exporter (€62 billion), followed by Belgium (€44 billion) and Ireland (€37 billion), all three registering decreases when compared with 2022. The largest extra-EU importers of medicinal and pharmaceutical products were Belgium (€26 billion), followed by Germany (€20 billion) and the Netherlands (€16 billion). The main destination of extra-EU exports of medicinal and pharmaceutical products in 2023 was the United States, accounting for a third (33.2%; €92 billion) of these exports, followed by Switzerland (15.5%; €43 billion) and China (7.7%; €21 billion). Imports of these products to the EU came mainly from the United States, accounting for 39.5% of all EU imports of these products, then Switzerland (32.3%) and the United Kingdom (6.9%). Eurostat data show that, in 2023, Romania exported 327 million euros worth of drugs and pharmaceutical products outside the EU, while imports amounted to 659 million euros. In terms of weight, Romania's exports represented only 1.3% of the total exports of the EU block of medicines and pharmaceutical products, while imports stood at 17.9% of the EU's total imports, the highest level.
Céline Gauer, the director general of the Recovery and Resilience Task Force (or RECOVER) at the European Commission, arrived in Romania on Tuesday, July 15, to meet with officials regarding the implementation of the National Recovery and Resilience Plan, or PNRR. As the coordinator of the PNRR, which offers funding in the form of advantageous […]
Aluminium producer ALRO, a subsidiary of Vimetco PLC from Cyprus, celebrated 28 years on the Romanian stock exchange (BVB) and 60 years of uninterrupted industrial activity. Its market capitalization has increased nearly 21 times since its listing and now exceeds RON 1 billion. The company’s history began with the first batch of Romanian aluminium, on June […]
Something is quietly shifting in Romania. In places where paperwork, patchy Wi-Fi, and long queues once ruled, change is starting to show. Towns are more connected, cities are getting smarter, and essential services are beginning to live online, not in line. A tidal wave of digitisation is common to other areas of the globe, that’s […]
Several segments in Romania's A7 and A8 highway projects have lost funding from the National Recovery and Resilience Plan (PNRR) due to project delays, the minister of investments and European projects, Dragoș Pîslaru, announced on Tuesday, July 15, as reported by Biziday.ro. He did not specify which segments of these highways were affected. The statement […]
Real estate developer Redport and businessman Dan Șucu officially inaugurated the showroom for their latest residential project, Vitality Est, and announced the start of construction work on the site near Pantelimon Park and Lake in eastern Bucharest. The project, estimated at EUR 50 million, will include 500 apartments and 400 square meters of commercial space. […]
According to an analysis from real estate consultant Colliers based on National Bank of Romania data, Romanians spent more than EUR 3 billion on international travel in the first four months of 2025, 15% more than in the same period of 2024. If the current pace continues, Romanians’ spending on foreign holidays and business travel […]
