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Country name:

conventional long form: none
conventional short form: Romania
local long form: none
local short form: Romania

 

Capital:

Bucharest. Population: 2 million (2005).
 

 

Location:

Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine

 

Area:

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.
 

Population:

21.6 million (UN estimate 2006).

 

Languages:

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

 

Industries:

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:

 

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  Copyright By :  Kish Trade Promotion Center  2002