Romania Table of Contents
Gross National Product: US$151.3 billion (1988), US$6,570 per capita, with 2.1 percent growth rate. Industry accounts for 52.7 percent, agriculture 14.9 percent, other sectors 32.4 percent (1987).
Administration: Extremely centralized, directed by communist party. Detailed economic planning. State ownership of most fixed assets.
Fuels and Energy: Once extensive oil and gas reserves nearing depletion. Increasing dependence on imported fuels. Coal reserves large but of poor quality. Coking coal reserves inadequate. Significant hydroelectric potential under development. Nuclear power program lagging badly.
Minerals: Deposits of ferrous and nonferrous ores, salt, gypsum. Increasingly dependent on imported iron ore.
Foreign Trade: Split almost evenly between socialist and nonsocialist countries. Large surpluses run during 1980s to repay foreign debt. Major exports metallurgical products, machinery, refined oil products, chemical fertilizers, processed wood products, agricultural commodities. Major imports crude oil, natural gas, iron ore, machinery and equipment, chemicals, foodstuffs.
Industry: Fuels production and processing, metallurgy, chemicals, machine building, forestry, food processing, textiles.
Agriculture: About 91 percent collectivized. Primary crops: corn, wheat, barley, oilseeds, potatoes, sugarbeets, fruits and vegetables. Cattle, sheep, hogs, and poultry widely raised.
Exchange Rate: 14.5 lei per US$1 in January 1989.
Data as of July 1989