Romania’s business landscape has undergone a significant transformation, with company revenues tripling and profits increasing more than fourfold between 2008 and 2024, according to a comprehensive study released by Termene.ro. Based on official financial data, the research highlights what analysts describe as the country’s entry into a “new normal” of economic maturity.
The study showed that Romanian companies exceeded a combined turnover of RON 2.67 trillion in 2024, compared with RON 857 billion in 2008. Meanwhile, net profits rose from roughly RON 51 billion to RON 229 billion, reaching a record ratio of more than RON 4 in profit for every RON 1 leu – the strongest performance recorded in the 16-year period.
The findings come after years marked by successive shocks, including the global financial crisis, the COVID-19 pandemic, and a period of accelerated inflation.
“The data shows an indisputable reality: the Romanian business environment has entered a stage of maturity. We have more active companies, turnovers more than three times higher, profits four times higher, and far superior efficiency compared to a decade and a half ago. It proves that Romanian businesses have not only survived the crises – they have emerged stronger from them. Of course, this is not a sufficient reason for them to continue facing increasing obstacles,” said Ionuț Bonoiu, Head of Context & Clarity at Termene.ro.
One of the study’s most notable conclusions is that the transformation occurred without a significant increase in staffing levels. The number of employees in Romanian companies remained stable at around 4.1 million throughout the period.
With the workforce nearly unchanged, productivity surged, however. According to the study, the turnover per employee almost tripled, while the net profit per employee increased more than fourfold – a trend attributed to digitalisation, optimisation, and professionalisation.
The structure of the business sector also evolved. The number of active companies filing financial statements grew by 65% between 2008 and 2024, surpassing 900,000 in 2023. The share of companies generating actual revenue rose sharply from 33% to 77%, indicating a more robust and functional business ecosystem. The number of firms with annual revenues above RON 1 million nearly tripled to 149,000.
According to the same source, financial performance indicators also reached unprecedented levels. The total assets quadrupled to RON 4.02 trillion, while equity capital increased sixfold to RON 2.19 trillion. Gross profits grew 4.4 times, reaching RON 264.5 billion in 2024, while net profits expanded 4.5 times.
The analysis covers the period 2008–2024 and is based on official financial data submitted by Romanian companies to the Ministry of Finance, processed and integrated through the Termene.ro platform. The study includes all active companies that filed financial statements during the analysed period.
As of November 1, 2025, the number of companies that had filed balance sheets for 2024 was approximately 7% lower than the number that filed for 2023, due to the fact that some companies – including large ones – had not yet published their financial statements on the Ministry of Finance’s website, Termene.ro said.
As a result, the indicators for 2024 (turnover, profits, losses, and the net profit balance) are potentially underestimated and will be revised as official financial data becomes more complete, the analysts explained.
irina.marica@romania-insider.com
(Photo source: Natanael Alfredo/Dreamstime.com)
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