Romanian economy
|
|
| Currency | Leu (Leu or RON) |
|---|---|
| Calendar year | |
|
Trade organisations
|
European Union, WTO |
| Statistics | |
| GDP |
 $467.436 billion (PPP, 2017) |
| GDP rank | 41st (PPP, 2017) |
|
GDP growth
|
5.6% (2017) |
|
GDP per capita
|
$23,709.349 (PPP; 2017) |
|
GDP by sector
|
agriculture: 11.8%; industry: 36.1; services: 52.1% (2015 est.) |
 1.1% |
|
|
Population below poverty line
|
25.4 % (2015 est.) |
| 34 (2014) | |
|
Labour force
|
9.133 million (2016 est.) |
|
Labour force by occupation
|
industry: 28.9% services: 42.8% agriculture: 28.3% (2014 est.) |
| Unemployment |
 5.4% (January 2017) |
|
Average gross salary
|
3,257 RON / 763 $, monthly (February 2017) |
| 520 € / 552 $, monthly (February 2017) | |
|
Main industries
|
electric machinery and equipment, textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining |
| 36th (2017) | |
| External | |
| Exports |
$56.03 billion (2016 est.) |
|
Export goods
|
machinery and equipment, metals and metal products, textiles and footwear, chemicals, agricultural products, minerals and fuels |
|
Main export partners
|
 Germany 19.8% Italy 12.5% France 6.8% Hungary 5.4% United Kingdom 4.4% (2015 est.) |
| Imports |
$66.46 billion (2016 est.) |
|
Import goods
|
machinery and equipment, chemicals, fuels and minerals, textile and products, agricultural products |
|
Main import partners
|
Germany 19.8% Italy 10.9% Hungary 8% France 5.6% Poland 4.9% China 4.6% Netherlands 4% (2015 est.) |
|
FDI stock
|
$64.43 billion (31 December 2015 est.) |
|
Gross external debt
|
€92.163 billion (31 January 2017) |
| Public finances | |
 39.3% of GDP (2016 est.) |
|
| Revenues | $56.86 billion (2016 est.) |
| Expenses | $62.14 billion (2016 est.) |
| Economic aid | $100 billion EU structural funds (2007–13) $100 billion EU structural funds (2014–20) |
|
|
|
Foreign reserves
|
US$42.96 billion (31 December 2014) |
$197.004 billion (nominal, 2017)
Romania, as part of the European Union single market, is a fast developing, upper-middle income mixed economy with a very high Human Development Index and a skilled labour force, the 16th largest in the European Union by total nominal GDP and the 13th largest based on purchasing power parity.
The Romanian economy is the 41st-largest economy in the world (out of 188 countries measured by IMF) with $435,454 billion annual output, and ranks 41st in the world in terms of GDP per capita measured by purchasing power parity. Romanian economy is expected to grow by +6% in 2017. Based on current economic growth it's expected to hit 1 trillion of USD PPP before 2035. Romania continues to be one of the leading nations in Central and Eastern Europe for attracting foreign direct investment: the inward FDI in the country with a cumulative FDI totaling more than $170 billion since 1989. Romania is the largest electronics producer in Central and Eastern Europe. Electronics manufacturing and research are among the main drivers of innovation and economic growth in the country. In the past 20 years Romania has also grown into a major center for mobile technology, information security, and related hardware research Dacia automobiles. Up until the late 2000s financial crisis, the Romanian economy had been referred to as a "Tiger" due to its high growth rates and rapid development. Until 2009, Romanian economic growth was among the fastest in Europe (officially 8.4% in 2008 and more than three times the EU average). Romania is rich in iron ore, oil, salt, uranium, nickel, copper and natural gas. The country is a regional leader in multiple fields, such as IT and motor vehicle production.Bucharest, the capital city, is one of the largest financial and industrial centres in Eastern Europe. According to Eurostat Romania posted the biggest economic growth in EU in 2016 by more than +6% increase of GDP.
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