The exports to this destination represent 64%, and the imports from the EU countries represent 54%. Domestic demand is playing an ever more important role in underpinning growth as interest rates drop and the availability of credit cards and mortgages increases.
World Bank national accounts data, and OECD National Accounts data files. Industrial output growth was 6.9% year-on-year in December 2009, making it the highest in the EU-27 zone which averaged −1.9%.Romania has the third-highest percentage of women working in information and communications technologies (ICT) in Europe. The top 10 exports of Romania are vehicles, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, and rubber and plastics. 29% of their workforce is made up of women.The largest employer is the retail sector, employing almost 12% of Romanians. Romania's main imports and exports are electrical machinery, motor vehicles & parts and industrial machinery.Romania imported in 2006 food products of 2.4 billion euros, up almost 20% versus 2005, when the imports were worth slightly more than 2 billion euros. Domestic demand is expected to go up 12.7%. Consumer prices rose a seasonally-adjusted 0.1% over the last month in May, a smaller increase than April's 0.3% rise. GDP growth (annual %) - Romania. Romania is a large producer of many agricultural products and is currently expanding its forestry and fishery industries. Economic growth was further fuelled by foreign credits in the 1970s, eventually leading to a growing foreign debt, which peaked at $11–12 billion. Romania Economic Growth The economy is expected to shrink markedly this year as restrictions to halt the spread of coronavirus and severed global value chains hammer private consumption and fixed investment. In 2017, 11.58% of Romanian exports went to its neighbors; while 12.95% of imports came from these five countries. According to Bloomberg, the country's economic growth advanced at the fastest pace since 2008.In the Romanian press the economy has been referred to as the "Tiger of the East" during the 2000s.Net investments in Romania's economy totaled RON 33.6 billion (EUR 7.2 billion) in the first half of 2018, up by 5.8% compared to the same period of 2017, according to the National Statistics Institute (INS).In the same year (2018) foreign direct investment (FDI) was 81 billion, 63% (51 billion) being "green field"
Romania’s prudent macroeconomic management has enabled a quick recovery from the global financial crisis.
Industrial production dropped 28.0% year-on-year in May, a softer fall than April’s 38.7% decline, which had marked the sharpest contraction on record. Economic activity picked up in 2013 and is forecasted to reach around 2.8% in 2014, driven by the gradual improvement in the domestic demand, led by the private consumption, and by exports, mainly to the EU. Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Romania. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 8.80 percent in 2021 and 3.80 percent in 2022, according to our econometric models. Other important partners are the During the first trimester of 2010, Romanian exports increased by 21%, one of the largest rates in the European Union. Imports of goods and services increased 9.3%, while exports grew 7.6% in 2016, as compared to 2015.Until World War II, Romania was Europe's second-largest oil and food producer.After 1945, Soviet-occupied Romania became a member of the Romania's debt was largely paid off during the 1980s by implementing The end of the communist period marked the beginning of a sharp economic downturn. A further strong increase of traffic is expected in the future. Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. In 2004, 91% of the urban and only 16% of the rural population had access to improved water supply and 94% of the urban population had access to improved sanitation.In March 2017, the gross average monthly wage was RON 3,256 (€716), and the net average monthly wage was RON 2,342 (€515).Countries tend to benefit from sharing borders with developed markets as this facilitates trade and development. Bucharest is the only city in Romania which has an Agriculture employs about 26% of the population (one of the highest rates in Europe) and contributes about 4.3% of GDP.Beef production is located in central Romania, while the production of fruits, vegetables, and wine ranges from central to southern Romania. The same minimum wage applies to employees with a seniority of over 15 years.