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    Romania Economy - 2003
    https://theodora.com/wfb2003/romania/romania_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      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. Nonetheless, recent macroeconomic gains have done little to address Romania's widespread poverty, while corruption and red tape hinder foreign investment.


      GDP: purchasing power parity - $166 billion (2002 est.)


      GDP - real growth rate: 4.5% (2002 est.)


      GDP - per capita: purchasing power parity - $7,400 (2002 est.)


      GDP - composition by sector: agriculture: 15%
      industry: 35%
      services: 50% (2001)


      Population below poverty line: 44.5% (2000)


      Household income or consumption by percentage share: lowest 10%: 3.2%
      highest 10%: 25% (1998)


      Distribution of family income - Gini index: 31.1 (1998)


      Inflation rate (consumer prices): 22.5% (2002 est.)


      Labor force: 9.9 million (1999 est.)


      Labor force - by occupation: agriculture 40%, industry 25%, services 35% (1998)


      Unemployment rate: 8.3% (2002)


      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: 6% (2002)


      Electricity - production: 50.86 billion kWh (2001)


      Electricity - production by source: fossil fuel: 62.5%
      hydro: 27.6%
      other: 0% (2001)
      nuclear: 9.9%


      Electricity - consumption: 46.1 billion kWh (2001)


      Electricity - exports: 1.6 billion kWh (2001)


      Electricity - imports: 400 million kWh (2001)


      Oil - production: 127,500 bbl/day (2001 est.)


      Oil - consumption: 215,000 bbl/day (2001 est.)


      Oil - exports: NA (2001)


      Oil - imports: NA (2001)


      Oil - proved reserves: 1.055 billion bbl (January 2002 est.)


      Natural gas - proved reserves: 111.1 billion cu m (January 2002 est.)


      Agriculture - products: wheat, corn, barley, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep


      Exports: $13.7 billion f.o.b. (2002 est.)


      Exports - commodities: textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels


      Exports - partners: Italy 24.9%, Germany 15.6%, France 8.1%, Turkey, US (2001)


      Imports: $16.7 billion f.o.b. (2002 est.)


      Imports - commodities: machinery and equipment 23%, fuels and minerals 12%, chemicals 9%, textile and products 19% (1999)


      Imports - partners: Italy 19.9%, Germany 15.2%, Russia 7.6%, France (2001)


      Debt - external: $13.7 billion (2002 est.)


      Currency: leu (ROL)


      Currency code: ROL


      Exchange rates: lei per US dollar - 33,055.4 (2002), 29,060.8 (2001), 21,708.7 (2000), 15,332.8 (1999), 8,875.58 (1998)


      Fiscal year: calendar year


      NOTE: The information regarding Romania on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Romania Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/romania/romania_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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