Romania Tenders

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Capital Bucharest
ISO 3166 Code RO
Population 19,942,642
Area, Sq KM 237,500
Currency Romanian leu
Official Language Romanian
GDP, Billion USD 1,89,638
GDP Growth Rate, % 2.4
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 7.17
Exchange Rate, 1 USD Equals 3.96
International dial code 40
Time Zone GMT+02:00
Internet TLD .ro

Romania is a unitary semi-presidential republic that is located in Southeastern-Central Europe. The country borders the Black Sea, between Ukaraine and Bulgaria along with Moldova, Hungary and Serbia. The total land area covered by the country is estimated to be around 238,391 square kilometers and known for its temperate-continental climate. Romania is considered to be the 7th most populous member state of the European Union and has 19.9 million inhabitants. Bucharest is the capital as well as the largest city of the county and sixth largest in the European Union. Modern Romania is believed to have emerged within the territories of the ancient Roman province of Dacia. It was formed in the year 1859 with the help of a personal union of the principalities of Wallachia and Moldavia. The new state, officially named Romania since the year 1866, gained independence from the Ottoman Empire in 1877. At the end of World War I, Bukovina, Transylvania and Bessarabia united with the sovereign Kingdom of Romania. Towards the end of World War II, territories which today roughly correspond to the Republic of Moldova were occupied by the Soviet Union. After a few years, Romania became a socialist republic and member of the Warsaw Pact. After the 1989 Revolution, Romania transitioned back towards democracy and a capitalist market economy.The economy of the country which witnesses growth since the 2000’s was predominantly based on services. It is a producer as well as net exporter of machines and electric energy. Living standards of Romania have improved, and currently, the country is considered to be an upper-middle income country and has a high Human Development Index. It has been a member of NATO since the year 2004 along with being a part of the European Union since 2007. Around 90% of the population living in Romania identify themselves as Eastern Orthodox Christians, and are native speakers of Romanian. With a rich cultural history, the country has been the home of influential artists, inventors, musicians and sportsmen. There are several tourists’ attractions in this country as well. As of 2013, Romania’s GDP in terms of PPP was around $386 billion and a GDP per capita (PPP) of $19,397. Due to lack of structural reform and obsolete industrial base, the country experienced almost a decade of economic decline and instability after 1989. However, in 2006, according to the Romanian Statistics Office, GDP growth of the country in real terms was recorded at 7.7% which was one of the highest rates in Europe.

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