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32 country profile

Age Structure in Romania GDP, comparison by sector

4,2%

16,8% 14,3% 0-14 years
Agriculture
15-24 years
10,5%
12,3% 33,2% Industry
25-34 years

55-64 years 62,6% Services
46,1%
65 years and over

According to CIA World Factbook, unemployment rate cur- UNSAR (The National Association of Insurance and Reinsur-
rently stands at 4.9% and inflation rate is around 1.3%. ance Companies in Romania) was founded to improve and ex-
“ pand the cooperation in Romanian insurance and Reinsurance
Volume of exports up to 64.58 market in 1994 with the participation of 13 insurance and re-
insurance companies. Major objectives of UNSAR are to take
billion USD part in improving the current legal framework of insurance for
Romanian insurance and reinsurance companies, and taking
Volume of Romanian exports stands at 64.58 billion USD, role in initiating the legal amendments. There are currently 28
while volume of imports is 78.12 billion USD. Major export insurance companies in Romanian insurance market, employ-
products are machinery, equipment, agricultural products, ing 9,898 people in total.
foods, metals, chemicals, minerals and fuel; and major export
partners include Germany, Italy, France, Hungary and the 2,427 million USD written premiums
UK. On the other hand, Romania mainly imports chemicals,
agricultural products, metals, foods, fuels and minerals from at the end of 2018
Germany, Italy, Hungary, Poland, France, the Netherlands
and China. As of 2017, foreign debt stands at 5.7 billion USD. According to Insurance Europe, gross written premiums by
the Romanian insurance market reached 2,427 million USD
Insurance market in Romania at the end of 2018. The same statistics indicate that direct
gross written premiums stood at 2,325 million USD in 2017,

Direct gross premiums written in Romania (millions USD)

2.306 2.325 2.427
2.013 2.169

2014 2015 2016 2017 2018