Romania - Economic profile
|
GDP per capita (2004) |
7000 euro (in PPS), or 31.4% of the EU average |
|
Economic growth |
5% in 2002; 5.2% in 2003; 8.3% in 2004 |
|
Inflation rate (2004) |
11.9% (interim HICP) |
|
Unemployment rate |
6.8% in 2004 |
|
Government budget balance |
-1.4% of GDP in 2004 |
|
Current account balance |
End of 2004: -7.5% of GDP |
|
Debt |
18.5% of GDP in 2004 |
|
Trade with EU25 (2003) |
Exports to the EU: 74% of the total |
The EU is the most important trade partner for Romania (71% of total bilateral trade). Other significant partners are Russia (4.9%), Turkey (4.4%) and the USA (2.8%).
The European Commissionâs 2004 Regular Report states that Romania complies with the criterion of being a functioning market economy.
In December 2004, the new government adopted a major tax reform, which introduces a flat-rate income tax of 16% and lowers the corporate tax from 25% to 16%.
ROMANIA - General Presentation
Official name: ROMANIA
Form of Government: Republic
The Parliament: two-chamber Parliament: Chamber of Deputies and Senate
Geographical Location: Southeastern Europe
Neighbors: lies between Ukraine and Bulgaria and adjoins the Black Sea to the east. Romania is bordering Bulgaria (by the Danube), Serbia and Montenegro, Hungary, Moldova, and Ukraine
Area: 238,391 sq. km (12th in Europe and 81st in the world).
Official language: Romanian
Standard time: GMT +2 hours
Currency: RON ( RON = ROmanian New Leu)
Capital city: Bucharest
Administrative distribution: 41 counties, 265 towns, 2686 communes.
Main cities: Iasi; Constanta; Cluj-Napoca; Timisoara; Galati; Craiova; Brasov; Ploiesti; Braila.
Airports: Bucharest-Otopeni, Bucharest-Baneasa, Constanta, Timisoara, Bacau, Baia Mare, Caransebes, Cluj-Napoca, Craiova, Deva, Iasi, Oradea, Satu Mare, Târgu Mures, Tulcea, Suceava, Arad, Sibiu.
Population: 21,794,793 (July 2002), 93.9 inh./sq.km.
Religion: Orthodox 86.8%
Roman-Catholic 5.0%
Reformed 3.5%
Others 4.7%