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Romania is a country located at the intersection of Central and Southeastern Europe. Romania shares a border with Hungary and Serbia to the west, Ukraine and Moldova to the northeast and east, and Bulgaria to the south. Romania is the ninth biggest country of the European Union by area, and has the seventh largest population of the European Union with over 19 million people. Its capital and largest city is Bucharest, the tenth largest city in the EU, with a population of around 2 million.
The Kingdom of Romania emerged when the principalities of Moldavia and Wallachia were united under Prince Alexander Ioan Cuza in 1859. Independence from the Ottoman Empire was declared on 9 May 1877, and was internationally recognized the following year. At the end of World War I, Bukovina, Transylvania and Bessarabia united with the Kingdom of Romania. Greater Romania emerged into an era of progression and prosperity that would continue until World War II. By the end of the War, many north-eastern areas of Romania's territories were occupied by the Soviet Union, and Romania forcibly became a socialist republic and a member of the Warsaw Pact. After a decade of post-revolution economic problems, extensive reforms fostered economic recovery making Romania now an upper middle-income country with high human development.
Business and Economy
Romania is an upper-middle income country economy and has been part of the European Union since 1 January 2007. The Romanian economy was transformed into one of relative macroeconomic stability, characterised by high growth, low unemployment and declining inflation. In 2006, according to the Romanian Statistics Office, GDP growth in real terms was recorded at 7.7%, one of the highest rates in Europe. the country fell into a recession in 2009 and 2010, where the GDP contracted −7.1% and −1.3% respectively. It is estimated by the IMF that the GDP will grow again by 1.5% in 2011 and 4.4% in 2012. Unemployment in Romania was at 7.6% in 2010, which is very low compared to other middle-sized or large European countries such as Poland, France and Spain. General government gross debt is also comparatively low, at 34.8% of GDP. Exports have increased substantially in the past few years, with a 13% annual rise in exports in 2010. Romania's main exports are cars, software, clothing and textiles, military equipment, pharmaceuticals, fine chemicals, industrial machinery, electrical and electronic equipment, metallurgic products, raw materials and agricultural products (fruits, vegetables, and flowers). Trade is mostly centred on the member states of the European Union, with Germany and Italy being the country's single largest trading partners. The current account balance in 2010 held a deficit of $6.842.
These are major cities of Romania. Cities like Bucharest, Braila, Cluj-Napoca, Pitesti, Timisoara, Arad, Iasi Iasi, Sibiu, Constanta, Craiova County, Targu Mures, Galati, Baia Mare, Brasov, Buzau, Ploiesti, Botosani, Oradea and Satu Mare.
Capital - Bucharest
Official language - Romanian
Total 238,391 km2 (83rd) 92,043 sq mi
2011 census 19,042,936 (59th)
Density 80/km2 (121st) 207/sq mi
GDP (PPP) 2011 estimate
Total $267.151 billion
Per capita $14,029
GDP (nominal) 2011 estimate
Total $189.776 billion
Per capita $8,862
Gini (2008) 32 (medium)
HDI (2011) 0.781 (high) (50th)
Currency Romanian leu4 (RON)