After I analyzed, in October 2025, economic relations between Romania and Hungary, we turn our attention to Austria. The context of the analysis is given by two events taking place in January 2026, in Vienna. The first is organized by the Transilvania Bank Group and the Embassy of Romania in Austria, Connecting Growth – Investing in Romania. The second, The Central & Eastern European Forum - Where CEE Markets Thrive, is a Financial Times branded event, during which BT organizes and supports the panel Focus Romania.
Austria, the second largest investor in Romania
Austria is a strategic economic partner for Romania. Austrian investments are concentrated mainly in energy, the banking sector, industry, infrastructure, and services, fields that directly influence the competitiveness of the Romanian economy. Austria is the second largest foreign investor as a final investor in Romania, after Germany.
Cooperation between Romania and Austria is based on economic interdependence, constant trade exchanges, dynamic entrepreneurial environment, amplified by common membership in the European Union and the Schengen Area. This favorable context stimulates regional cooperation and strengthens strategic partnerships, transforming the Romanian-Austrian relationship into a pillar of European integration.
Also, the two countries are connected through the large Romanian community in Austria, which contributes significantly to the Austrian economy and society.
Bilateral trade
In the last ten years, Romania has had a negative trade balance with Austria, importing on average 1.4 billion euros more per year than it exported.
The year 2023 marked a record level of bilateral trade (6.3 billion euros), which was based on a combination of factors, including the strong recovery after the COVID-19 pandemic and the solid economic growth in both countries.
Symmetry of trade exchanges: the most exported product categories by Romania to Austria in the last ten years, according to INS data, have been:
- Machines, appliances and electrical equipment (0.6 billion euros in 2024; 32% of total exports)
- Means and transport materials (0.3 billion euros in 2024)
- Common metals and articles thereof (0.2 billion euros in 2024)
Of the three categories, means and transportation materials have had a constant upward trend in recent years, increasing by 4.2% in 2024 compared to the previous year. Thus, Romanian brands such as Dacia (Renault Group - vehicles) and Softronic (locomotives) report an increase in presence on the Austrian market. Dacia reached a 4.2% market share in Austria, with its sales increasing by 13.2% in 2024 compared to 2023. Thus, Austria is the fifth EU country by Dacia's market share in the car market, after Portugal, Italy, Belgium, and Luxembourg.
The same 3 categories of goods are also the most imported by Romania from Austria, which highlights the close connection between the two economies. On one hand, this aspect is explained by the fact that both countries have a strong presence in these fields. On the other hand, the strong presence of Austrian investors in Romania causes part of the Romanian exports to be produced by subsidiaries of Austrian companies in Romania, creating a circular trade flow. The symmetry of trade exchanges also highlights the existence of integrated supply chains and cross-border specialization beyond the subsidiaries of firms from one country in the other country, so that for the same product, components are manufactured in one country, assembled in another, and then shipped back as finished or semi-finished products.
In the coming period, an increase in trade exchanges between the two countries is expected as a result of Romania's accession to the Schengen area, which facilitates cross-border trade of goods by reducing transport time and implicitly reducing costs.
Bilateral trade evolution Romania - Austria in 2015 - 2024
Of the almost 13,000 Austrian companies with subsidiaries in the EU, over 10% are in Romania
Austrian companies held investments of 14 billion euros in 2024 either directly or through subsidiaries and branches in intermediary countries, which represents 11.3% of the total stock of foreign direct investment in our country. Of the nearly 13,000 Austrian companies with subsidiaries in European Union countries, over 10% are located in Romania.
Among the best-known companies with Austrian capital in our country are: OMV Petrom, BCR Erste Group, Raiffeisen Bank, Vienna Insurance Group, Porsche Romania, Julius Meinl, Pfanner, Swarovski and Hervis Sports. A strong presence on the Romanian market is also noticeable in the construction sectors (Strabag, Porr), real estate (Immofinanz) or wood processing and furniture objects (Egger, Kronospan, XXXLutz).
In addition to the goods and services brought by these companies to the Romanian market, the subsidiaries of Austrian firms contribute to Romania's welfare through local labor. Austrian firms have almost 100,000 employees in our country and pay approximately 1.9 billion euros annually for salaries, taxes, and related benefits.
The Austrian market is also becoming attractive for a number of Romanian companies, especially for the IT sector. For example, the company Teraplast acquired in the year 2024 the Austrian company Wolfgang Freiler.
Interregional projects supported by European funds
Romania and Austria are part of a series of projects co-financed by interregional development funds. These projects have a wide range of activities, such as: technological innovation, sustainable development, modernization of transport systems, improvement of institutional capacity, and increase of interregional collaboration.
For example, Danube Transnational Program it was a partnership between 9 EU countries, carried out during the period 2014-2020. One of its four priorities was the creation of new inland waterways or the improvement of existing ones, ports, and multimodal connections, in order to support sustainable local and regional mobility, modal integration, and intelligent transport.
During the 2021-2027 funding period, Romania and Austria are partners in a series of interregional projects, such as Urbact IV, focused on increasing interest in small and medium-sized towns as well as encouraging the dual transition (green and digital) to support competitiveness and sustainability.
Romanian Diaspora in Austria
- Romanians are the second largest category of EU immigrants in Austria after Germans, being almost 150,000 Romanians.
- Annualy, approximately 22,000 Romanians emigrate to Austria.
Economic relations between Romania and Austria are shaping up as a solid strategic partnership, built on consistent investments, dynamic trade exchanges, and an interdependence between the two economies. Although the trade balance remains negative for Romania, the upward trend of sectors such as means of transport and IT shows the potential for balancing and diversifying bilateral flows.
Austria is strengthening its position as a major investor in Romania, contributing not only to the development of infrastructure and industry, but also to the creation of jobs and the integration of the Romanian economy into European production chains. At the same time, Romanian companies are beginning to make their presence increasingly felt on the Austrian market. The inclusion of Romania in the Schengen Area will amplify these ties, reducing logistical barriers and trade costs and opening new opportunities for regional cooperation.
