conventional long form: none
conventional short form: Romania
local long form: none
local short form: Romania
Bucharest. Population: 2 million (2005).
Southeastern Europe, bordering the Black
Sea, between Bulgaria and Ukraine
238,391 sq km (92,043 sq miles).
Description:
Romania is bordered to the north and east by Moldova and Ukraine,
the southeast by the Black Sea, the south by Bulgaria, the southwest
by Serbia and in the west by Hungary. The country is divided into four
geographical areas. Transylvania (a belt of Alpine massifs and
forests) and Moldavia compose the northern half of the country, which
is divided down the middle by the north-south strip of the Carpathian
Mountains. South of the east-west line of the Carpathians lies the
flat Danube plain of Wallachia with the capital Bucharest, its border
with Bulgaria being defined by the course of the Danube. Romania's
coastline is along the Black Sea, incorporating the port of Constanta
and the Danube Delta.
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21.6 million (UN estimate 2006).
Romanian is the official language. Some Hungarian and German are
spoken in border areas, while mainly French and some English are
spoken by those connected with the tourist industry
Climate:
Summer temperatures are moderated on the coast by sea breezes
while inland at sea level it is hot. Winters are coldest in the
Carpathian Mountains where there is snow from December through to
April. Snow also falls throughout most of the country. Winters are
mildest on the coast.
Economy - overview:
Since the 1989 revolution, successive governments have concentrated
on turning Romania into a market economy. Progress has been
difficult, hampered by a largely obsolete industrial base and a
pattern of output unsuited to the country's needs. Since 2000,
Romania has registered positive growth, thanks to strong demand in
EU export markets (which account for 60% of trade) and strong
domestic activity in construction, agriculture, and consumption.
Although these gains have only just started to address Romania's
widespread poverty and corruption and red tape continue to handicap
the business environment, GDP increased by 6.4% in 2006, the
strongest growth in the last decade. Inflation is 6.8% and official
unemployment has fallen to 6.1%. The Romanian government carried out
a currency revaluation in 2005. Romania joined the European Union on
1 January 2007, with the IMF praising the country's recent reform
efforts.
Economy:
Since the 1989 revolution, successive governments have
concentrated on turning Romania into a market economy. Progress has
been difficult, hampered by a largely obsolete industrial base and a
pattern of output unsuited to the country's needs. Since 2000,
Romania has registered positive growth, thanks to strong demand in
EU export markets (which account for 60% of trade) and strong
domestic activity in construction, agriculture, and consumption.
Although these gains have only just started to address Romania's
widespread poverty and corruption and red tape continue to handicap
the business environment, GDP increased by 6.4% in 2006, the
strongest growth in the last decade. Inflation is 6.8% and official
unemployment has fallen to 6.1%. The Romanian government carried out
a currency revaluation in 2005. Romania joined the European Union on
1 January 2007, with the IMF praising the country's recent reform
efforts.
|
Domestic Economy |
| |
2003 |
2004 |
2005* |
| GDP (USD bn) |
58.0 |
62.8 |
|
| GDP Growth Rate (%) |
4.9 |
8.3 |
5.9 |
| GDP per capita (USD)
|
2669 |
7700 |
|
| Inflation (%) |
14.1 |
9.6 |
|
| Unemployment (%) |
7.2 |
6.8 |
5.7 |
*First Quarter
textiles and footwear, light machinery and auto assembly, mining,
timber, construction materials, metallurgy, chemicals, food
processing, petroleum refining
Exports:
Textiles and footwear, metals and metal products, machinery and
equipment, minerals and fuels, chemicals.
• Main trade partners: Italy, Germany, Turkey, France and UK.
Imports:
Machinery and equipment, fuels and minerals, chemicals,
agricultural products, textiles and textile products.
Exchange rates:
New Leu (RON; symbol (plural) Lei) = 100 bani. Notes are in
denominations of Lei500, 100, 50, 10, 5 and 1. Coins are in
denominations of Bani50, 10, 5 and 1. (Old notes were in denominations
of Lei1,000,000, 500,000, 100,000, 50,000 and 10,000 and coins in
denominations of Lei5,000, 1,000, 500 and 100.)
http://www.worldtravelguide.net/country/235/money/Europe/Romania.html
Daily
Exchange Rate
GDP :
US$84 billion (2006).
Useful links:
- Ministries &
Organization
- Trade
Associations & Chamber of Commerce
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Uses full Links 
