| People | Romania |
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Economy - overview:
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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):
|
$246.7 billion (2007 est.) |
GDP (official exchange rate):
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$158.5 billion (2007 est.) |
GDP - real growth rate:
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5.9% (2007 est.) |
GDP - per capita (PPP):
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$11,100 (2007 est.) |
GDP - composition by sector:
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agriculture: 7.9%
industry: 35.6%
services: 56.5% (2007 est.) |
Investment (gross fixed):
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26.9% of GDP (2007 est.) |
Population below poverty line:
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25% (2005 est.) |
Household income or consumption by percentage share:
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lowest 10%: 1.2%
highest 10%: 20.8% (2006) |
Distribution of family income - Gini index:
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31 (2005) |
Inflation rate (consumer prices):
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6.6% (2007 est.) |
Labor force:
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9.35 million (2007 est.) |
Labor force participation rate:
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42.03 % of population |
Labor force - by occupation:
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agriculture: 29.7%
industry: 23.2%
services: 47.1% (2006) |
Unemployment rate:
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4.1% (2007 est.) |
Budget:
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revenues: $56.29 billion
expenditures: $60.41 billion (2007) |
Budget revenues per capita:
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2,531 USD per capita |
Public debt:
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18.7% of GDP (2007 est.) |
Industries:
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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:
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5.4% (2007) |
Electricity - production:
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60.52 billion kWh (2007) |
Electricity - production per capita:
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2,721 kWh per capita |
Electricity - consumption:
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58.49 billion kWh (2007) |
Electricity - consumption - per capita:
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2,630 kWh per capita |
Electricity - exports:
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3.33 billion kWh (2007) |
Electricity - imports:
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1.29 billion kWh (2007) |
Oil - production:
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122,700 bbl/day (2005 est.) |
Oil - production per capita:
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5,516 bbl/day per capita |
Oil - consumption:
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236,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
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3.87 bbl/year per capita |
Oil - exports:
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92,510 bbl/day (2004) |
Oil - imports:
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181,100 bbl/day (2004) |
Oil - proved reserves:
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955.6 million bbl (1 January 2006 est.) |
Natural gas - production:
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12.24 billion cu m (2007) |
Natural gas - production per capita:
|
551 cu m per capita |
Natural gas - consumption:
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17.09 billion cu m (2007) |
Natural gas - consumption - per capita:
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769 cu m per capita |
Natural gas - exports:
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0 cu m (2007) |
Natural gas - imports:
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4.851 billion cu m (2007) |
Natural gas - proved reserves:
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96.41 billion cu m (1 January 2006 est.) |
Agriculture - products:
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wheat, corn, barley, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep |
Current account balance:
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-$22.6 billion (2007) |
Current account balance - per capita:
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-1,015 USD per capita |
Exports:
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$40.25 billion f.o.b. (2007) |
Exports per capita:
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1,810 USD per capita |
Exports - commodities:
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machinery and equipment, textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels, chemicals, agricultural products |
Exports - partners:
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Italy 17.9%, Germany 15.7%, Turkey 7.7%, France 7.5%, Hungary 4.9%, UK 4.7% (2006) |
Imports:
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$64.33 billion f.o.b. (2007) |
Imports per capita:
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2,892 USD per capita |
Imports - commodities:
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machinery and equipment, fuels and minerals, chemicals, textile and products, metals, agricultural products |
Imports - partners:
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Germany 15.2%, Italy 14.5%, Russia 7.8%, France 6.5%, Turkey 4.9%, China 4.3% (2006) |
Reserves of foreign exchange and gold:
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$37.24 billion (31 December 2007) |
Reserves of foreign exchange and gold - per capita:
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1,674 USD per capita |
Debt - external:
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$84.74 billion (31 December 2007) |
Debt - external - per capita:
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3,810 USD per capita |
Stock of direct foreign investment - at home:
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$60.65 billion (2007) |
Stock of direct foreign investment - abroad:
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$992.3 million (2007) |
Market value of publicly traded shares:
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$45.42 billion (2007) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$914.3 million (2004) |
Economic aid - recipient per capita:
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42 USD per capita |
Currency (code):
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"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:
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lei per US dollar - 2.43 (2007), 2.809 (2006), 3 (2005), 3 (2004), 3 (2003) |
Fiscal year:
|
calendar year |
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