Romania registers second largest industrial growth in EU

Romania - BucharestSkylineBiggest industrial production growth in Romania was registered in September 2013. Among the EU countries, Romania with 2.4% increase in industrial production ranked second after Ireland which recorded 2.9% increase and ahead of Hungary with an increase in 1.8%. Overall, the average industrial production in EU in September decreased by 0.5%.

Portugal where the economic decline has been visible for three years now, recorded the biggest drop, -11.2%, Luxembourg and Croatia had a decrease of -4.1% and -3.3%, respectively. Data comparing statistics for September 2013 and September 2012, shows that Romania registered the second biggest increase with 8.9% growth in industrial production, whereas Ireland recorded 11.7%.

For two decades since the overthrow of Nicolae Ceaușescu regime in 1989, Romania has seen substantial foreign direct investment totaling $170 billion. The country was among the most rapidly growing economies of Europe with a peak of 8.4% in 2008, three times the EU average.

The industrial sector accounts for 26.4% of the workforce. Romania is the regional leader in automobile production, machinery and chemicals.


Show More

Foreign Policy News

Foreign Policy News is a self-financed initiative providing a venue and forum for political analysts and experts to disseminate analysis of major political and business-related events in the world, shed light on particulars of U.S. foreign policy from the perspective of foreign media and present alternative overview on current events affecting the international relations.

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker