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Revision as of 18:49, 25 December 2002 by 65.94.162.74 (talk)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)Economy - overview: (source CIA worldfactbook)
Romania began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. Over the past decade economic restructuring has lagged behind most other countries in the region. Consequently, living standards have continued to fall - real wages are down perhaps 40%. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets, and despite the global slowdown in 2001, strong domestic activity in construction, agriculture, and consumption led to 4.8% growth. A standby agreement with the IMF - covering the period October 2001 to March 2003 - provides a key opportunity for vigorous privatization, regulatory reform, deficit reduction, and the curbing of inflation. The government in the past has not been able to fully implement IMF agreements; its degree of success in this case will affect prospects for joining the EU.
GDP: purchasing power parity - $152.7 billion (2001 est.)
GDP - real growth rate: 4.8% (2001 est.)
GDP - per capita: purchasing power parity - $6,800 (2001 est.)
GDP - composition by sector: agriculture: 15% industry: 30% services: 55% (2000)
Population below poverty line: 44.5% (2000)
Household income or consumption by percentage share: lowest 10%: 3.7% highest 10%: 22.7% (1994)
Distribution of family income - Gini index: 30.5 (1997)
Inflation rate (consumer prices): 34.5% (2001 est.)
Labor force: 9.9 million (1999 est.)
Labor force - by occupation: agriculture 40%, industry 25%, services 35% (1998)
Unemployment rate: 9.1% (2001)
Budget: revenues: $11.7 billion
expenditures: $12.4 billion, including capital expenditures of $NA (1999 est.) Industries: textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining
Industrial production growth rate: 6.5% (2001)
Electricity - production: 49.787 billion kWh (2000) Electricity - production by source: fossil fuel: 52.58% hydro: 36.92% other: 0.01% (2000) nuclear: 10.49% Electricity - consumption: 45.677 billion kWh (2000) Electricity - exports: 1.4 billion kWh (2000) Electricity - imports: 775 million kWh (2000)
Agriculture - products: wheat, corn, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep
Exports: $11.5 billion (f.o.b., 2001 est.) Exports - commodities: textiles and footwear 26%, metals and metal products 15%, machinery and equipment 11%, minerals and fuels 6% (1999) Exports - partners: Italy 22%, Germany 16%, France 7%, Turkey 6%, US (2000)
Imports: $14.4 billion (f.o.b., 2001 est.) Imports - commodities: machinery and equipment 23%, fuels and minerals 12%, chemicals 9%, textile and products 19% (1999) Imports - partners: Italy 19%, Germany 15%, Russia 9%, France 6% (2000)
Debt - external: $11.6 billion (2001 est.)
Currency: leu (ROL) Currency code: ROL Exchange rates: lei per US dollar - 35,052.0 (January 2002), 29,060.8 (2001), 21,708.7 (2000), 15,332.8 (1999), 8,875.6 (1998), 7,167.9 (1997); note - lei is the plural form of leu
Fiscal year: calendar year
- See also : Romania