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. The IMF Board approved Romania's
completion of the standby agreement in October 2003, the first time
Romania has successfully concluded an IMF agreement since the 1989
revolution. In July 2004, the executive board of the IMF approved a
24-month standby agreement for $367 million. The Romanian
authorities do not intend to draw on this agreement, however,
viewing it simply as a precaution. Meanwhile, recent macroeconomic
gains have done little to address Romania's widespread poverty,
while corruption and red tape continue to handicap the business
environment.

GDP (purchasing power parity):
$171.5 billion (2004 est.)

GDP - real growth rate:
8.1% (2004 est.)

GDP - per capita:
purchasing power parity - $7,700 (2004 est.)

GDP - composition by sector:
agriculture: 13.1%
industry: 33.7%
services: 53.2% (2004 est.)

Labor force:
9.66 million (2004 est.)

Labor force - by occupation:
agriculture 31.6%, industry 30.7%, services 37.7% (2004)

Unemployment rate:
6.3% (2004 est.)

Population below poverty line:
28.9% (2002)

Household income or consumption by percentage share:
lowest 10%: 2.4%
highest 10%: 27.6% (2003)

Distribution of family income - Gini index:
28.8 (2003)

Inflation rate (consumer prices):
9.6% (2004 est.)

Investment (gross fixed):
23.3% of GDP (2004 est.)

Budget:
revenues: $22.1 billion
expenditures: $23.2 billion, including capital expenditures of $2.2
billion (2004 est.)

Public debt:
23.6% of GDP (2004 est.)

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

Industries:
textiles and footwear, light machinery and auto assembly, mining,
timber, construction materials, metallurgy, chemicals, food
processing, petroleum refining

Industrial production growth rate:
4% (2004 est.)

Electricity - production:
56.53 billion kWh (2003)

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

Electricity - consumption:
57.5 billion kWh (2003)

Electricity - expor