Romania Oil production Romania Electricity production

Romania Economy

Economy - overview: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. the country emerged in 2000 from a punishing three-year recession thanks to strong demand in eu export markets. despite the global slowdown in 2001-02. strong domestic activity in construction. agriculture. and consumption have kept growth above 4%. an imf standby agreement. signed in 2001. has been accompanied by slow but palpable gains in privatization. deficit reduction. and the curbing of inflation. the imf board approved romania's completion of the standby agreement in october 2003. the first time romania has successfully concluded an imf agreement since the 1989 revolution. in july 2004. the executive board of the imf approved a 24-month standby agreement for $367 million. wayward economic policies led to a breakdown of this agreement in 2005. and the imf has issued harsh criticisms of the government's fiscal. wage. and monetary policies. meanwhile. recent macroeconomic gains have done little to address romania's widespread poverty. while corruption and red tape continue to handicap the business environment.

GDP (purchasing power parity) : $186.4 billion (2005 est.)

Inflation rate: 8.9% (2005 est.)

Labor force : 9.31 million (2005 est.)

Industries: textiles and footwear. light machinery and auto assembly. mining. timber. construction materials. metallurgy. chemicals. food processing. petroleum refining

Romania

			Over view
			Geography
			People
			Government
			Economy
			Communications
			Transportation
			Militry

Romania More Facts

Electricity - production: 51.7 billion kwh (2003)

Oil - production: 119.000 bbl/day (2005 est.)

Romania More Facts

Exports: $27.72 billion f.o.b. (2005 est.)

Imports : $38.15 billion f.o.b. (2005 est.)
Currency (code) : leu (rol)