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Romania, which joined the European Union on 1 January 2007, 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. Domestic consumption and investment have fueled strong GDP growth in recent years, but have led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and address Romania's widespread poverty. Corruption and red tape continue to hand...  More..

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Economy of Romania
SOURCE: CIA - The World Factbook
Currency Leu
Fiscal Year 01 January - 31 December
GDP (PPP) $255.4 billion (2009 est.)
GDP (per capita) $11,500 (2009 est.)
Exports $38.1 billion (2009 est.)
Imports $49.2 billion (2009 est.)
Main Industries Electric Machinery and Equipment, Textiles and Footwear, Light Machinery and Auto Assembly, Mining, Timber, Construction Materials, Metallurgy, Chemicals, Food Processing, Petroleum Refining
Exports - Commodities Machinery and Equipment, Textiles and Footwear, Metals and Metal Products, Machinery and Equipment, Minerals and Fuels, Chemicals, Agricultural Products
Imports - Commodities Machinery and Equipment, Fuels and Minerals, Chemicals, Textile and Products, Metals, Agricultural Products
Exports Partners Germany 16.3%, Italy 15.4%, France 7.3%, Turkey 6.5%, Hungary 5%, Bulgaria 4.1% (2008)
Imports Partners Germany 16.1%, Italy 11.2%, Hungary 7.3%, Russia 5.9%, France 5.6%, Turkey 4.9%, Austria 4.8%, Kazakhstan 4.5%, China 4.2% (2008)

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