Romania-Austria Bilateral Trade Analysis 2023
Complete trade statistics: $7.07B total volume •Romania deficit: $2.17B
Romania → Austria
$2.45B
Exports (2023)
Austria → Romania
$4.62B
Imports (2023)
Trade Balance
$2.17B
Deficit for Romania
Total Trade
$7.07B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Romania and Austria. Green line shows exports from Romania, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Romania-Austria commercial relationship and competitive positioning in global markets.
Romania → Austria Exports
Export Market Intelligence
🎯 Strategic Export Focus
Romania's export portfolio to Austria demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Austria → Romania Imports
Import Dependency Profile
📦 Import Strategy Analysis
Romania's import pattern from Austria reveals strategic sourcingin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Romania demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Austria, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $7.07B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Romania-Austria Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $7.07 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Romania maintains a deficit of $2.17 billion
- Export Focus: Romania's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, pumps and compressors: for air, vacuum or gas, n.e.c. in heading no. 8414, sports footwear: with outer soles and uppers of rubber or plastics, ski-boots, cross-country ski footwear and snowboard boots
- Import Dependencies: Key imports from Austria include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, electrical apparatus: parts suitable for use solely or principally with the apparatus of heading no. 8535, 8536 or 8537
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $7.07B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Romania leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Romania's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Austria's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $7.07B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $7.07B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $7.07 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Romania's trade deficit of $2.17 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Romania and Austria represents a total trade volume of $7.07 billion in 2023. This partnership demonstrates an unfavorable trade balance for Romania, with imports exceeding exportsby $2.17 billion.
Export Strengths
Romania's exports to Austria total $2.45 billion, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $177.09M or7.2% of bilateral exports.
Import Dependencies
Imports from Austria amount to $4.62 billion, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising3.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Romania's strategic sourcing from Austria. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Romania and Austria in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023