Romania


Romania Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Romania; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank National Bank of Romania
International Reserves US$ 48.044 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 186.419 billion (2010 estimate)
GDP (Purchasing Power Parity) 274.535 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
5.7% 5.1% 5.2% 8.5% 4.2% 7.9% 6.3% 7.3%
2009 2010 2011 2012*
-6.6% -1.6% 2.5% 1.5%

*Estimate

GDP per capita - current prices US$ 8,721 (2010 estimate)
GDP per capita - PPP $12,843 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.72% 0.56% 0.33% 0.34% 0.33%

**Forecast

GDP - composition by sector
  • agriculture: 12.3% 
  • industry: 37.8% 
  • services: 50% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
5.6%(2008) 6.1% 5.8% 2.9%

*Estimate

Unemployment rate
2009 2010 2011 2012*
6.9% 7.3% 7.2%(2009) 7.2%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
13.6% 23.8% 31.2% 33% 34.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-4.8% -7.3% -6.4% -4.1% -1.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB+

Moody's rating: Baa3

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$30.32 billion US$32.38 billion US$21.2 billion
Largest companies in Romania N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -7.8 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -4.2% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

23.5% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.34%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.24% (2011)(2007)

(Data were released in 2012)

Total exports US$67.72 billion (2012 estimate) 
Export commodities machinery and equipment, metals and metal products, textiles and footwear, chemicals, agricultural products, minerals and fuels
Total imports US$78.31 billion (2012 estimate) 
Import commodities machinery and equipment, chemicals, fuels and minerals, metals, textile and products, agricultural products
Exports - major partners Germany 18.9%, Italy 13.1%, France 7.6%, Turkey 6.2%, Hungary 5.7% (2011)
Imports - major partners Germany 17.2%, Italy 11.4%, Hungary 8.8%, France 5.8%, China 4.6%, Kazakhstan 4.2%, Austria 4% (2011)
FDI inflows
2009 2010 2011
US$4,844 million US$2,940 million(2009) US$2,670 million(2009)
FDI outflows
2009 2010 2011
US$-88 million US$-20 million US$32 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$4 million US$7 million(2009) US$24 million(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 72 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 68 out of 185 countries(2009)

Enforcing Contracts: 60 out of 185 countries

Registering Property: 72 out of 185 countries

Getting credit: 12 out of 185 countries

Protecting investors: 49 out of 185 countries

Trading across border: 72 out of 185 countries

Paying Taxes: 136 out of 185 countries

Dealing with Construction Permits: 129 out of 185 countries

Getting Electricity: 168 out of 185 countries

Resolving Insolvency: 102 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
78

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 62 Score: 64.4 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+2
Total area 238,391 km2 (2006)
Capital Bucharest (2009)
Currency lei (RON) (2009)
Government type republic (2009)
Languages Romanian 91% (official), Hungarian 6.7%, Romany (Gypsy) 1.1%, other 1.2%
Religions Eastern Orthodox (including all sub-denominations) 86.8%, Protestant (various denominations including Reformate and Pentecostal) 7.5%, Roman Catholic 4.7%, other (mostly Muslim) and unspecified 0.9%, none 0.1% (2002 census)
Total population
1980 1990 2000 2012* 2017**
22.52 million 23.54 million 22.44 million 21.35 million 21.13 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
34.2% 46.1% 53.5% 52.8%
Population median age 38 years (2010)
Population growth rate -0.2% (2011)
Life expectancy 74 years (2010)
Adult literacy 98% (2005/2010)
% of population living on less than $2 a day <2% (2011)
Inequality of wealth distribution (Gini index)

30 (2009)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

131.09% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 44.02% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Bucharest: 152nd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

3.6906 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2013:
  • REGIONAL WINNERS/Best Provider of Money Market Funds Raiffeisen Bank International (Central and Eastern Europe, 2013)
  • REGIONAL WINNERS/Best Bank for Risk Management Raiffeisen Bank International (Central and Eastern Europe, 2013)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS ING Bank Romania (National, 2013)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (National, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Garanti Bank International (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Garantibank Romania (National, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S SAFEST BANKS

2012:
  • REGIONAL WINNERS BRD (National, 2012)
2011:
  • REGIONAL WINNERS Banca Comerciala Romana (National, 2011)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Raiffeisen Bank International Romania (National, 2012)
2011:
  • COUNTRY WINNERS BRD-Groupe Société Générale (National, 2011)
2010:
  • COUNTRY WINNERS BRD-Groupe Société Générale (Central & Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS BRD-Groupe Société Générale (Sergei Ignatiev, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS ING Bank (National, 2012)
2011:
  • COUNTRY WINNERS ING Bank (National, 2011)

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Banca Comerciala Romana (Central & Eastern Europe, 2010)
  • OVERALL BIGGEST BRD-Groupe Société Générale (Central & Eastern Europe, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Banca Comerciala Romana (BCR) (National, 2013)
2012:
  • COUNTRY WINNERS Banca Comerciala Romana (BCR) (National, 2012)
2011:
  • COUNTRY WINNERS Banca Comerciala Romana (BCR) (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE