The aggregate turnover of companies in Romania increased by 71% from 2009 until 2018 (or an average annual growth rate of 5.5%), and should advance by another 5% in 2019 according to  the annual study "Business conditions in Romania" launched by local business intelligence firm KeysFin.

The dynamic is in line with the 78% advance of the nominal GDP over the ten-year period, while it should be a bit stronger than estimated by KeysFin in 2019 when the nominal GDP is heading toward a 10% nominal increase versus 2018.

The total turnover of non-financial companies in Romania reached RON 1,452 bln (EUR 312 bln) last year and, for the current year, KeysFin estimates it will go up to around RON 1,528 bln (EUR 320 bln).

The study includes 673,000 non-financial companies registered in Romania in 2018. The aggregate net profit of these companies almost doubled over the last ten years, reaching RON 112 bln (EUR 23.8 bln) in 2018. For this year, Keys Fin analysts expect total profits to go up to RON 125 bln (EUR 26.3 bln).

Oil and gas group OMV Petrom reported the biggest profit last year, namely RON 3.9 billion (EUR 840 million), followed by Hidroelectrica and Romgaz.

Also on a positive note, KeysFin finds that in the period 2009-2018, the number of new insolvencies in Romania decreased by 59%, from 19,600 to 8,000 per year.

editor@romania-insider.com

(Photo source: Pexels.com)