| Introduction - Romania: |
| Location - Romania: |
| People - Romania: |
| Government - Romania: |
| Economy - Romania: |
Economy overview | Romania began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the countrys needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Despite the global slowdown in 2001-02, strong domestic activity in construction, agriculture, and consumption have kept GDP growth above 4%. However, macroeconomic gains have only recently started to spur creation of a middle class and address Romanias widespread poverty, while corruption and red tape continue to handicap the business environment. Romanian government confidence in continuing disinflation was underscored by its currency revaluation in 2005, making 10,000 old lei equal 1 new leu. The economy grew at 6.4% in 2006, the strongest growth in the last decade. Romania joined the European Union on 1 January 2007, and the IMF has praised the countrys recent reform efforts in preparation for EU accession. |
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Gdp purchasing power parity | $202.2 billion (2006 est.) |
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Gdp official exchange rate | $80.11 billion (2006 est.) |
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Gdp real growth rate | 7.7% (2006 est.) |
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Gdp per capita ppp | $9,100 (2006 est.) |
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Gdp composition by sector | agriculture: 10.1%
industry: 34.7%
services: 55.2% (2006 est.) |
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Labor force | 9.33 million (2006 est.) |
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Labor force by occupation | agriculture: 31.6%
industry: 30.7%
services: 37.7% (2004) |
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Unemployment rate | 6.1% (2006 est.) |
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Population below poverty line | 25% (2005 est.) |
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Household income or consumption by percentage share | lowest 10%: 2.4%
highest 10%: 27.6% (2003) |
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Distribution of family income gini index | 28.8 (2003) |
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Inflation rate consumer prices | 6.8% (2006 est.) |
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Investment gross fixed | 25% of GDP (2006 est.) |
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Budget | revenues: $36.89 billion
expenditures: $39.1 billion; including capital expenditures of $2.2 billion (2006 est.) |
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Public debt | 21.4% of GDP (2006 est.) |
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Agriculture products | wheat, corn, barley, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep |
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Industries | textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining |
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Industrial production growth rate | 5.7% (2006 est.) |
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Electricity production | 54.53 billion kWh (2004) |
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Electricity consumption | 49.62 billion kWh (2004) |
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Electricity exports | 3.7 billion kWh (2004) |
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Electricity imports | 2.6 billion kWh (2004) |
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Oil production | 119,000 bbl/day (2005 est.) |
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Oil consumption | 212,000 bbl/day (2004 est.) |
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Oil exports | NA bbl/day |
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Oil imports | 181,100 bbl/day (2004) |
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Oil proved reserves | 955.6 million bbl (1 January 2005) |
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Natural gas production | 11.8 billion cu m (2004 est.) |
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Natural gas consumption | 18 billion cu m (2004 est.) |
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Natural gas exports | 0 cu m (2004 est.) |
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Natural gas imports | 6.2 billion cu m (2004 est.) |
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Natural gas proved reserves | 300 billion cu m (1 January 2005 est.) |
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Current account balance | -$12.45 billion (2006 est.) |
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Exports | $33 billion f.o.b. (2006 est.) |
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Exports commodities | textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels, chemicals, agricultural products |
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Exports partners | Italy 16.1%, Germany 15.3%, Turkey 7.8%, Hungary 6.4%, France 6.3%, Austria 4.7%, UK 4.5% (2006) |
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Imports | $46.48 billion f.o.b. (2006 est.) |
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Imports commodities | machinery and equipment, fuels and minerals, chemicals, textile and products, basic metals, agricultural products |
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Imports partners | Germany 16.6%, Italy 12.9%, China 11.3%, Russia 6.1%, Hungary 5.8%, France 5.3%, Austria 4.9%, Turkey 4.3% (2006) |
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Reserves of foreign exchange and gold | $27.88 billion (2006 est.) |
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Debt external | $42.76 billion (2006 est.) |
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Currency code | 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 |
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Exchange rates | lei per US dollar - 2.809 (2006), 3 (2005), 3 (2004), 3 (2003), 3 (2002) |
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| Communications - Romania: |
| Transportation - Romania: |
| Military - Romania: |
This page was last updated on 16 September, 2007
