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Romania:
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Other pages in this profile of Romania:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition Romania, which joined the European Union on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Domestic consumption and investment have fueled strong GDP growth in recent years, but have led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and address Romania's widespread poverty. Corruption and red tape continue to handicap its business environment. Inflation rose in 2007 for the first time in eight years, driven in part by the depreciation of the currency, rising energy costs, a nation-wide drought affecting food prices, and a relaxation of fiscal discipline. Romania hopes to adopt the euro by 2014. |
GDP (purchasing power parity) |
Definition - World rank and map $245.5 billion (2007 est.) |
GDP (official exchange rate) |
Definition $166 billion (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 6% (2007 est.) |
GDP - per capita |
Definition - World rank and map $11,400 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 7.9% industry: 35.6% services: 56.5% (2007 est.) |
Labor force |
Definition 9.35 million (2007 est.) |
Labor force - by occupation |
Definition agriculture: 29.7% industry: 23.2% services: 47.1% (2006) |
Unemployment rate |
Definition - World rank and map 4.1% (2007 est.) |
Population below poverty line |
Definition 25% (2005 est.) |
Household income or consumption by percentage share |
Definition lowest 10%: 1.2% highest 10%: 20.8% (2006) |
Distribution of family income - Gini index |
Definition - World rank and map 31 (2005) |
Inflation rate (consumer prices) |
Definition - World rank and map 4.8% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 28% of GDP (2007 est.) |
Budget |
Definition revenues: $56.29 billion expenditures: $60.41 billion (2007) |
Public debt |
Definition - World rank and map 18.2% of GDP (2007 est.) |
Agriculture - products |
Definition wheat, corn, barley, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep |
Industries |
Definition electric machinery and equipment, textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining |
Industrial production growth rate |
Definition - World rank and map 10.6% (2007 est.) |
Electricity - production |
Definition - World rank and map 60.52 billion kWh (2007) |
Electricity - consumption |
Definition - World rank and map 58.49 billion kWh (2007) |
Electricity - consumption per capita |
Definition - World rank and map 2,629.2 kWh (2007) |
Electricity - exports |
Definition 3.33 billion kWh (2007) |
Electricity - imports |
Definition 1.29 billion kWh (2007) |
Oil - production |
Definition - World rank and map 122,700 bbl/day (2005 est.) |
Oil - consumption |
Definition - World rank and map 236,000 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 10.6 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 92,510 bbl/day (2004) |
Oil - imports |
Definition - World rank and map 181,100 bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 955.6 million bbl (1 January 2006 est.) |
Natural gas - production |
Definition - World rank and map 12.24 billion cu m (2007) |
Natural gas - consumption |
Definition - World rank and map 17.09 billion cu m (2007) |
Natural gas - consumption per capita |
Definition - World rank and map 768 cu m (2007) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2007) |
Natural gas - imports |
Definition - World rank and map 4.851 billion cu m (2007) |
Natural gas - proved reserves |
Definition - World rank and map 96.41 billion cu m (1 January 2006 est.) |
Current account balance |
Definition - World rank and map -$23.13 billion (2007) |
Exports |
Definition - World rank and map $40.25 billion f.o.b. (2007) |
Exports - commodities |
Definition machinery and equipment, textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels, chemicals, agricultural products |
Exports - partners |
Definition Italy 17.2%, Germany 16.9%, France 7.7%, Turkey 7%, Hungary 5.6%, UK 4.1% (2006) |
Imports |
Definition - World rank and map $64.33 billion f.o.b. (2007) |
Imports - commodities |
Definition machinery and equipment, fuels and minerals, chemicals, textile and products, metals, agricultural products |
Imports - partners |
Definition Germany 17.2%, Italy 12.8%, Hungary 6.9%, Russia 6.3%, France 6.2%, Turkey 5.4%, Austria 4.8% (2006) |
Reserves of foreign exchange and gold |
Definition - World rank and map $37.24 billion (31 December 2007) |
Debt - external |
Definition - World rank and map $72.36 billion (31 December 2007) |
Stock of direct foreign investment - at home |
Definition $50.39 billion (2007 est.) |
Stock of direct foreign investment - abroad |
Definition $288 million (2007 est.) |
Market value of publicly traded shares |
Definition $45.42 billion (2007) |
Economic aid - recipient |
Definition $914.3 million (2004) |
Currency (code) |
Definition "new" leu (RON) was introduced in 2005; "old" leu (ROL) was phased out in 2006; note - because of currency revaluation, 10,000 ROL = 1 RON |
Exchange rates |
Definition lei per US dollar - 2.43 (2007), 2.809 (2006), 3 (2005), 3 (2004), 3 (2003) |
Fiscal year |
Definition calendar year |
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