Economics and Business Essay

Submitted By DenisaStanescu
Words: 370
Pages: 2

Economics and Business Romania’s major industries are cement and construction, petrochemicals, automobiles, aircraft, textiles, food and beverages, metallurgy chemicals, mining, consumer durables, and tourism.- INDUSTRIAL PRODUCTION. Dacia is a major car company in Romania. Romania has a developing market economy. It is one of the most recent countries to enter the EU (European Union).

The labor force consists of 9.35 million people. 37% of these people work in agriculture, 34% in industry, and 29% in services. The unemployment rate is 11%. 25% of the population is below the poverty line.

When the communists came to power they nationalized industries, transportation, and stores as well as private farms. The new government started to allow more private ownership of land, a change that’s resulted in increased agricultural output. These new laws allow citizens to claim land that’s been taken from their ancestors as long ago as four generations. The people who are reclaiming this land is in the millions.

Many of the products raised for domestic sale are agricultural. The main crops are wheat, corn, sugar beets, sunflower seeds, and wine grapes. Farmers also raise cows, pigs, sheep, and chickens.

Under communism, the Soviet Union was the primary trade partner.
Russia and the former Soviet republics remain important trading partners and others are Germany, Italy, France, and the United States.

Exports include textiles, shoes, metals and metal products,