Romania is a rich country

Romaniaeconomyrich

Globally, Romania is a rich country

Romania is classified as an upper-middle-income country by the World Bank. As of 2024, Romania ranks 41st in the world by nominal GDP. When adjusted for purchasing power parity (PPP), Romania ranks 35th worldwide. That is from a total of 195 worldwide countries.

In Europe, Romania ranked 12th by GDP and 7th by Purchasing Power Parity (PPP) in 2024. The country’s economic growth has been one of the highest in the EU since 2010, with expectations to reach the EU average wealth by 2030.

The minimum monthly gross wage in Romania, in the year 2024, was about €665, while the average monthly gross salary was around €1463. IT professionals in Romania, such as Software Developers and Engineers, can earn between €1200 and €12000, depending on their expertise and experience.

Living in Romania is significantly more affordable than in the rest of Europe. For example, €2000 per month in Romania provides a similar standard of living to €5000 per month in Western Europe. The cost of living in Romania is about half that of Sweden. Local beer prices start at €1.5 to €2, and rent is three times cheaper than in Western Europe (but most Romanians prefer to buy their homes rather than rent anyway). Generally, food costs are more than 50% lower than in Western Europe with a lot of diversities in local ecological food products.

Romania has considerable natural resources for a country of its size and is an oil and gas producer.

According to EUROSTAT, in year 2024 the Romanian region of Bucureşti-Ilfov has the lowest rates of people at risk of poverty in the entire European Union. However, Southern and Eastern Romania still face challenges compared to the rest of the country. This disparity highlights the contrasting nature of Romania, with extremely rich and prosperous areas alongside less developed regions. Thus, Romania is far from being a poor country.

Here are a few random examples of economically important people in Romania, cars you often see on the streets in Romania, shopping centers and luxury houses in Romania.

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