An Overview of the Economy
Romania is a large, upper-middle-income economy of
central-eastern Europe and the capital Bucharest is one of the
largest financial centres in the region. The country is the
nineteenth largest economy in Europe by total nominal GDP and the
fifteenth largest based on purchasing power parity. Romania is a
recent member of the European Union which acts as its most
important trading partner and funding from the EU should help to
keep the economy stable. In the Ernst and Young Southeast Europe
Attractiveness Survey 2008, Romania ranked the highest in terms of
attracting investor interest. Manufacturers including Wrigleys,
Nestlé and Renault have set up in the country with Nokia and Ford
both planning to open operations in 2008. There are also
establishments by software companies Microsoft, Alcatel and
Hewlett-Packard in the north of the country which all show great
industrial potential.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
245.5 |
| GDP (PPP) (CIA) (US$Billions) |
245.5 |
| GDP Growth (IMF) (%) |
6% |
| GDP Growth (CIA) (%) |
6% |
| GDP Per Capita (PPP) (IMF) (US$) |
11,386 |
| GDP Per Capita (PPP) (CIA) (US$) |
11,400 |
| GDP by Sector |
Agriculture: 7.9%
Services: 56.5%
Industry: 35.6% |
| Inflation (%) |
4.8% |
| Population Below the Poverty Line (%) |
25% |
| Labour Force (Millions) |
9.35 |
| Labour Force by Occupation |
Agriculture: 29.7%
Services: 47.1%
Industry: 23.2% |
| Unemployment (%) |
4.1% |
| Main Industries |
Electric machinery and equipment, textiles and footwear,
light machinery and auto-assembly, mining, timber,
construction materials, metallurgy, chemicals, food
processing, petrloeum refining. |
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
59.51 |
75.52 |
98.86 |
122.65 |
165.98 |
| GDP Annual Growth (%) |
5.2% |
8.4% |
4.1% |
7.9% |
6.0% |
| GDP Per Capita (US$) |
2,721 |
3,465 |
4,552 |
5,668 |
7,697 |
| GDP Per Capita (PPP) (US$) |
7,769 |
8,676 |
9,335 |
10,427 |
11,387 |
| Inflation (%) |
15.3% |
11.9% |
9.0% |
6.6% |
4.8% |
| Unemployment (%) |
8.3% |
7.2% |
6.3% |
5.9% |
4.1% |
| Mobile Phone Users |
645,500 |
6,900,000 |
6,900,000 |
13,354,000 |
17,400,000 |
| Internet Users |
1,000,000 |
4,000,000 |
4,000,000 |
4,500,000 |
5,063,000 |
Source: IMF, CIA World Factbook
Major Exports & Imports
Major Exports 2007
Textile and footwear, metals and metal products, machinery and
equipment, minerals and fuels, chemicals, agricultural
products.
Major Imports 2007
Machinery and equipment, fuels and minerals, chemicals,
textiles, metals and agricultural products.
| export partners 2007 |
% of total |
| Italy |
17.9% |
| Germany |
15.7% |
| Turkey |
7.7% |
| France |
7.5% |
| Hungary |
4.9% |
| UK |
4.7% |
| import partners 2007 |
% of total |
| Germany |
15.2% |
| Italy |
14.5% |
| Russia |
7.8% |
| France |
6.5% |
| Turkey |
4.9% |
| China |
4.3% |
Source: CIA World Factbook
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