How much the Romanian business environment has changed in 16 years, how profits have increased and how many employees the companies work with – Termene.ro study

The cumulative turnover of the business environment increased more than three times, from 857 to 2,677 billion lei, according to an extensive study carried out by Termene.ro based on official financial data from the period 2008-2024. According to the study, net profits multiplied 4.5 times (to 229 billion lei), and the ratio between profits and losses reached a record level: over 4 lei profit for every 1 lei loss.

From the global financial crisis, through the pandemic and to the accelerated inflation of recent years, Romanian companies have gone through periods of rapid adjustments, followed by consolidation and accelerated growth, emerging from each crisis stronger than they entered, the study shows.

“The data show an indisputable reality: the Romanian business environment has entered a stage of maturity. We have more active companies, businesses more than three times larger, profits four times higher and a net higher efficiency compared to a decade and a half ago. It is proof that the Romanian business environment has not only survived the crises – but has come out of them stronger. Of course, this is not a sufficient reason to continue to receive more and more obstacles”, he declared Ionuț Bonoiu, Head of Context & Clarity, Termene.ro.

The number of employees remained constant

One of the most important conclusions of the study is that this transformation occurred without a significant increase in the number of employees. The total number of employees in Romanian companies remained relatively constant during the analyzed period, around 4.1 million.

In these conditions, labor productivity (turnover per employee) increased almost three times, and net profit per employee multiplied more than four times – a clear sign that Romanian companies have grown through optimization, digitalization and professionalization.

The number of companies has increased

The number of active companies, which submitted a balance sheet, increased by 65% ​​between 2008 and 2024, surpassing the threshold of 900,000 companies in 2023. At the same time, the share of companies that actually generate income (turnover of at least 1 leu) rose from 33% in 2008 to 77% in 2024 – a key indicator of the maturing of the business environment. The segment of companies with businesses over 1 million lei almost tripled, reaching 149,000 entities.

The cumulative turnover of Romanian companies increased from 857 billion lei in 2008 to 2,677 billion lei in 2024 – an increase of more than 3 times.
Even though the pace has moderated in recent years, the compound annual growth rate (CAGR) remains above 7%.

Gross profit increased in the period 2008-2024 by 4.4 times, reaching 264.5 billion lei, and net profit advanced 4.5 times, to 229.1 billion lei.

The total reported loss grew much more slowly (+50% only in the analyzed period), which led to a record ratio of over 4 lei profit for every 1 lei loss – the best level in the analyzed period.

Figures related to the business environment in Romania:

• +65% increase in the number of active companies (2008–2024)

• approx. 900,000 companies with a balance sheet filed in 2023 (slight decrease in 2024, but the value is expected to increase in the following period)

• 77% companies with effective revenues (vs. 33% in 2008)

• 149,000 companies with business over 1 million lei in 2024 (vs. 57,000 in 2008)

• 2,677 billion lei – total turnover (more than 3 times higher vs. 2008)

• 264.5 billion lei – gross profit (4.4 times higher)

• 229.1 billion lei – net profit (4.5 times higher)

• over 4:1 – profit/loss ratio in 2024

• 4,020 billion lei – total assets in 2024 (4 times higher vs. 2008)

• 2,191 billion lei – equity in 2024 (6 times higher vs. 2008)

• 4.1 million – employed in 2024 (1.5% increase over 2008)

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 submitted balance sheets during the analyzed period.

Termene.ro is a business intelligence platform from Romania.