Industry revenue of »manufacture of basic iron, steel, ferro-alloys« in Romania 2011-2023

Mirroring the trend in countries such as Norway, Czechia and Slovenia to name a few, revenues of the Romanian basic iron, steel and ferro-alloys manufacturing industry are projected to decline drastically from 3.4 billion U.S. dollars in 2011 to under 285 million U.S. dollars by 2023. This can be attributed to the lack of investments in the necessary infrastructure, which have resulted in the closure of many industries as well as prompted a shift to stronger manufacturing locations. In 2017, the country imported iron and steel worth 3 billion euros, a 26 percent year over year rise, as per a report from the National Statistics Institute, INS. During the same period, iron and steel exports were valued at 2.2 billion euros. In fact, even as a general trend, imports seem to be exceeding exports in the country. In 2018, goods worth nearly 97.78 billion U.S. dollars were imported to Romania whilst the overall exports were valued at 80 billion U.S. dollars, leading to a trade deficit of over 17 billion U.S. dollars.