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Economy
Economy - overview: Romania, one of the poorest countries in Central and Eastern Europe, 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 over 40%. Corruption too has worsened. The EU ranks Romania last among enlargement candidates, and the European Bank for Reconstruction and Development (EBRD) rates Romania's transition progress the region's worst. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. A new government elected in November 2000 promises to promote economic reform. Bucharest hopes to receive financial and technical assistance from international financial institutions and Western governments; negotiations over a new IMF standby agreement are to begin early in 2001. If reform stalls, Romania's ability to borrow from both public and private sources could quickly dry up, leading to another financial crisis.
GDP: purchasing power parity - $132.5 billion (2000 est.)
GDP - real growth rate: 2.2% (2000 est.)
GDP - per capita: purchasing power parity - $5,900 (2000 est.)
GDP - composition by sector: agriculture: 13.9%
Industry: 32.6%
Services: 53.5% (2000)
Population below poverty line: 44.5% (2000)
Household income or consumption by percentage share: lowest 10%: 3.8%
Highest 10%: 20.2% (1992)
Inflation rate (consumer prices): 45.7% (2000 est.)
Labor force: 9.9 million (1999 est.)
Labor force - by occupation: agriculture 40%, industry 25%, services 35% (1998)
Unemployment rate: 11.5% (1999)
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: 8% (2000)
Electricity - production: 49.036 billion kWh (1999)
Electricity - production by source: fossil fuel: 53.99%
Hydro: 36.18%
Nuclear: 9.81%
Other: 0.02% (1999)
Electricity - consumption: 44.768 billion kWh (1999)
Electricity - exports: 1.935 billion kWh (1999)
Electricity - imports: 1.1 billion kWh (1999)
Agriculture - products: wheat, corn, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep
Exports: $11.2 billion (f.o.b., 2000 est.)
Exports - commodities: textiles and footwear 26%, metals and metal products 15%, machinery and equipment 11%, minerals and fuels 6% (1999)
Exports - partners: Italy 23%, Germany 18%, France 6%, Turkey 5%, US (1999)
Imports: $11.9 billion (f.o.b., 2000 est.)
Imports - commodities: machinery and equipment 23%, fuels and minerals 12%, chemicals 9%, textile and products 19% (1999)
Imports - partners: Italy 20%, Germany 19%, France 7%, Russia 6% (1999)
Debt - external: $9.3 billion (2000 est.)
Currency: leu (ROL)
Currency code: ROL
Exchange rates: lei per US dollar - 26,243.0 (January 2001), 21,708.7 (2000), 15,332.8 (1999), 8,875.6 (1998), 7,167.9 (1997), 3,084.2 (1996); note - lei is the plural form of leu
Fiscal year: calendar year
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International organization participation:
ACCT, Australia Group, BIS, BSEC, CCC, CE, CEI, EAPC, EBRD, ECE, EU (applicant), FAO, G- 9, G-77, IAEA, IBRD, ICAO, ICFTU, ICRM, IFAD, IFC, IFRCS, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU, LAIA (observer), MONUC, NAM (guest), NSG, OAS (observer), OPCW, OSCE, PCA, PFP, UN, UNCTAD, UNESCO, UNIDO, UNIKOM, UNMEE, UNMIBH, UNMIK, UPU, WCL, WEU (associate partner), WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC
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Transportation
Railways: total: 11,385 km (3,888 km electrified)
Standard gauge: 10,898 km
Narrow gauge: 487 km (1996)
Highways: total: 153,359 km
Paved: 103,671 km (including 133 km of expressways)
Unpaved: 49,688 km (1998 est.)
Waterways: 1,724 km (1984)
Pipelines: crude oil 2,800 km; petroleum products 1,429 km; natural gas 6,400 km (1992)
Ports and harbors: Braila, Constanta, Galati, Mangalia, Sulina, Tulcea
Merchant marine: total: 95 ships (1,000 GRT or over) totaling 695,227 GRT/931,598 DWT
Ships by type: bulk 10, cargo 71, container 1, passenger 1, passenger/cargo 1, petroleum tanker 4, railcar carrier 2, roll on/roll off 4, specialized tanker 1 (2000 est.)
Airports: 62 (2000 est.)
Airports - with paved runways: total: 25
Over 3,047 m: 3
2,438 to 3,047 m: 10
1,524 to 2,437 m: 12 (2000 est.)
Airports - with unpaved runways: total: 37
1,524 to 2,437 m: 2
914 to 1,523 m: 12
Under 914 m: 23 (2000 est.)
Heliports: 1 (2000 est.)
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| Region |
Type |
Price |
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| USA |
Calrose #1 |
$1100 |
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| USA |
Calrose #1 Paddy |
$ N/A |
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| Egypt |
101 #2 |
$ N/A |
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| EU Prices |
Baldo |
€1000 |
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