Trade relations between Germany and Romania saw a significant increase in 2023, reaching a new record of 40.8 billion euros, according to data provided by AHK Romania and the Federal Statistical Office of Germany. This result reflects a 6.3% growth compared to the previous year, solidifying Romania's position as the 17th among Germany's trading partners and highlighting a three-position ascent from the previous year.
Read more about this in Ziarul Financiar: https://www.zf.ro/zf-24/schimburile-comerciale-intre-germania-romania-au-crescut-2023-6-40-8-22254462
Imports from Romania amounted to 19.4 billion euros, showing a noteworthy growth of 9.8%, while Germany's exports to Romania reached 21.5 billion euros, marking a 3.3% increase. Although Romania's imports are 10% lower than Germany's exports to the country, the threefold growth rate in imports signals an increased interest in Romanian products and services in the German market.
The significant growth in trade relations between Germany and Romania in 2023 is likely to have a notable impact on the industrial real estate market in both countries. As the demand for goods and services between the two nations continues to rise, there is a potential for an increased need for storage, distribution, and manufacturing facilities. In Romania, the country's appeal as an attractive business location for German companies seeking to enhance resilience to international supply chains and invest in innovative research and development could stimulate a surge in demand for industrial spaces. This heightened demand may, in turn, lead to an expansion and modernization of industrial facilities. In Germany, the increased exports to Romania may result in a need for additional logistics and storage capacities, potentially driving growth in the industrial real estate sector. Overall, the flourishing trade relationship is expected to have a positive ripple effect on the industrial real estate markets in both Germany and Romania.
Sebastian Metz, General Director and member of the Board of AHK Romania, emphasized the significance of these figures and highlighted the favorable evolution of bilateral trade relations. "We observe that Romania has climbed in the ranking of Germany's trading partners. This shows that the dynamics of bilateral trade relations between the two countries persist, despite numerous challenges. Romania manages to convince many German companies that it is an attractive business location."
A noteworthy aspect is the growing interest of German companies in Romania as an investment destination. Metz underscored that German companies are increasingly interested in enhancing their resilience to international supply chains, and Romania is becoming an attractive location for research and development investments.
AHK Romania, the official representative of the German economy in the country, with over 600 member firms, has become a crucial catalyst in strengthening economic relations between the two countries. Additionally, starting from January 1, 2020, AHK Romania has also become the Competence Center for the Republic of Moldova, expanding its impact and influence in the region.
With these results, Germany remains Romania's primary trading partner, and the upward trend recorded in 2023 suggests a robust and sustainable economic collaboration between the two countries in the near future.