Romania is a fast developing, upper middle income mixed economy with a very high Human Development Index and a skilled labour force, ranked 15th in the European Union by total nominal GDP and 10th largest when adjusted by purchasing power parity. Industry in Romania generated 33.6% of the local gross domestic product (GDP) in the first half of 2018.

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  • Romania is a fast developing, upper middle income mixed economy with a very high Human Development Index and a skilled labour force, ranked 15th in the European Union by total nominal GDP and 10th largest when adjusted by purchasing power parity. The Romanian economy ranks 40th in the world, with a $516.5 billion annual output (PPP). In recent years, Romania enjoyed some of the highest growth rates in the EU: 6% in 2016, 7% in 2017, and 4,1% in 2018. Growth is expected to slow down to +3.8% in 2019, although data for spring 2019 are surprisingly resilient. Extrapolating current trends, the country's GDP is projected to surpass $1,000 billion (PPP) before 2035. Romania is a leading destination in Central and Eastern Europe for foreign direct investment: the cumulative inward FDI in the country since 1989 totals more than $170 billion. Romania is the largest electronics producer in Central and Eastern Europe. In the past 20 years Romania has also grown into a major center for mobile technology, information security, and related hardware research. The country is a regional leader in fields such as IT and motor vehicle production. Bucharest, the capital city, is one of the leading financial and industrial centres in Eastern 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. Imports of goods and services increased 9.3%, while exports grew 7.6% in 2016, as compared to 2015.Exports of goods and services are expected to grow by 5.6% in 2017, while imports are seen increasing by 8.5%, according to the latest CNP (National Prognosis Commission) projections. Industry in Romania generated 33.6% of the local gross domestic product (GDP) in the first half of 2018. (en)
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  • Romania is a fast developing, upper middle income mixed economy with a very high Human Development Index and a skilled labour force, ranked 15th in the European Union by total nominal GDP and 10th largest when adjusted by purchasing power parity. Industry in Romania generated 33.6% of the local gross domestic product (GDP) in the first half of 2018. (en)
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  • Economy of Romania (en)
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