Economy - overview:
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 fueled strong GDP growth, but led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate its business environment. Inflation rose in 2007-08, driven by strong consumer demand and high wage growth, rising energy costs, a nation-wide drought, and a relaxation of fiscal discipline. As a result of the global financial crisis, Romania's GDP fell more than 7% in 2009, prompting Bucharest to seek a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. Drastic austerity measures, as part of Romania's IMF-led agreement, led to a 1.6% GDP contraction in 2010. The economy returned to positive growth in 2011 due to a strong export performance, but in a deflationary environment caused by bountiful crops and weak domestic demand. In March 2011, Romania and the IMF/EU/World Bank signed a 24-month precautionary stand-by agreement, worth $6.6 billion, to promote compliance with fiscal targets, progress on structural reforms, and financial sector stability. The Romanian authorities have announced that they do not intend to draw funds from the facility. Growth slowed to less than 1% in 2012.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates: Fiscal year:
NOTE: 1) The information regarding Romania on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Romania Economy 2013 information contained here. All suggestions for corrections of any errors about Romania Economy 2013 should be addressed to the CIA.
$274.1 billion (2012 est.)
country comparison to the world: 49
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$171.4 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
0.9% (2012 est.)
country comparison to the world: 167
[see also: GDP - real growth rate country ranks ]
$12,800 (2012 est.)
country comparison to the world: 98
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 7.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
32.9%
services:
59.2% (2011 est.)
9.252 million (2012 est.)
country comparison to the world: 52
[see also: Labor force country ranks ]
agriculture: 30%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
20.2%
services:
49.8% (2010)
4.3% (2012 est.)
country comparison to the world: 40
[see also: Unemployment rate country ranks ]
21.1% (2010)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
23.5% (2009 est.)
33.3 (2010)
country comparison to the world: 96
[see also: Distribution of family income - Gini index country ranks ]
26.4% of GDP (2012 est.)
country comparison to the world: 40
[see also: Investment (gross fixed) country ranks ]
revenues: $54.27 billion
[see also: Budget revenues country ranks ]
expenditures:
$58.14 billion (2012 est.)
31.7% of GDP (2012 est.)
country comparison to the world: 92
[see also: Taxes and other revenues country ranks ]
-2.3% of GDP (2012 est.)
country comparison to the world: 78
[see also: Budget surplus (+) or deficit (-) country ranks ]
34.6% of GDP (2012 est.)
country comparison to the world: 102
note:
defined by the EU's Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities: currency and deposits, securities other than shares excluding financial derivatives, and loans; general government sector comprises the subsectors: central government, state government, local government, and social security funds
[see also: Public debt country ranks ]
3% (2012 est.)
country comparison to the world: 79
[see also: Inflation rate (consumer prices) country ranks ]
5.25% (31 December 2012)
country comparison to the world: 63
[see also: Central bank discount rate country ranks ]
10% (31 December 2012 est.)
country comparison to the world: 69
[see also: Commercial bank prime lending rate country ranks ]
$24.76 billion (31 December 2012 est.)
country comparison to the world: 64
[see also: Stock of narrow money country ranks ]
$63.44 billion (31 December 2012 est.)
country comparison to the world: 66
[see also: Stock of broad money country ranks ]
$80.41 billion (31 December 2012 est.)
country comparison to the world: 58
[see also: Stock of domestic credit country ranks ]
$21.2 billion (31 December 2011)
country comparison to the world: 57
[see also: Market value of publicly traded shares country ranks ]
wheat, corn, barley, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep
electric machinery and equipment, textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining
5.6% (2011 est.)
country comparison to the world: 59
[see also: Industrial production growth rate country ranks ]
-$7.488 billion (2012 est.)
country comparison to the world: 170
[see also: Current account balance country ranks ]
$67.72 billion (2012 est.)
country comparison to the world: 52
[see also: Exports country ranks ]
machinery and equipment, metals and metal products, textiles and footwear, chemicals, agricultural products, minerals and fuels
Germany 18.9%, Italy 13%, France 7.6%, Turkey 6.2%, Hungary 5.7% (2011)
$78.31 billion (2012 est.)
country comparison to the world: 39
[see also: Imports country ranks ]
machinery and equipment, chemicals, fuels and minerals, metals, textile and products, agricultural products
Germany 17.2%, Italy 11.4%, Hungary 8.8%, France 5.8%, China 4.6%, Kazakhstan 4.2%, Austria 4% (2011)
$49.93 billion (31 December 2012 est.)
country comparison to the world: 36
[see also: Reserves of foreign exchange and gold country ranks ]
$125.9 billion (31 December 2012 est.)
country comparison to the world: 39
[see also: Debt - external country ranks ]
$74.49 billion (31 December 2012 est.)
country comparison to the world: 48
[see also: Stock of direct foreign investment - at home country ranks ]
$1.506 billion (31 December 2012 est.)
country comparison to the world: 71
[see also: Stock of direct foreign investment - abroad country ranks ]
lei (RON) per US dollar -
calendar year
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 11-Mar-13