Global GDP Growth: Overview
Real GDP is computed using prices from the base year adjusted for inflation. A measure of economic growth, real GDP changes demonstrate whether the economic activity has increased or decreased. The US, China, Japan, Germany, and India have the top five economies in the world in terms of real GDP. With a value of $12.7 trillion, China had the second-largest real GDP behind the US in 2021. Japan ranked third globally with a $6 trillion real GDP during the same period. The next two largest economies are Germany and India, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
Romania Exports: Overview
According to the IMF, the volume of exports of goods and services is forecasted to grow by 13.53%, respectively, in 2021.
Electrical machinery and related equipment constitute the largest portion of Romania's export basket, with its share of total exports increasing from 18.41% in 2016 to 18.64% in 2020, according to the UN Comtrade database.
The top ten product categories of exports from Romania accounted for 70.28% of total Romanian exports in 2020. These export categories include mechanical appliances, including nuclear reactors and related items (11.34% share in 2020), furniture, bedding, mattresses, and similar furnishings (3.6%).
Germany, Italy, and Hungary were its top three trading partners in Romania. They accounted for 37.71% of total trade (exports and imports) in 2020.
Romania Exports as a % of GDP
Exports as a % of GDP of Romania was 36.4% in 2021, while Romania’s exports as a % of GDP decreased by 3.2% year on year basis in 2021. Between 2010-2021, the exports as a % of GDP in Romania increased by 1.0%. The exports as a % of GDP were highest in the year 2014 (45.2%), and lowest in the year 2010 (36.1%).
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