Feb 22 2007 3:18PM
The main indicators of the Romanian economy in 2006 showed unprecedented performances at level of salaries and turnover, the Nine O’Clock reads on February 12, citing National Statistics Institute (INS) data as saying.

The average salary advanced by 23.6 percent last year in real terms, exceeding the Oct. 1990 level. The salary in Dec. 2006 exceeded, for the first time after Dec. 1989, that in Oct 1990. The net average salary stood at 1,099 RON in last Dec. For the first time after the fall of communism, the real salary index reached the level in Oct 1990, exceeding by 16.6 percent that in Dec 2006, INS data say. The net nominal average salary advanced by 21 percent in Dec. compared to the previous month, within the context of the payment of the 13th salary and winter holiday bonuses. The gross average salary was 1,481 RON, up by 22.1 percent. The highest values of the net salary were reported in financial services (RON 3,336), and the lowest in the garment production (548 RON ). Salary raises over 30 percent were registered in fields such as transport (including activities of tour operators), public administration, education, financial services and tobacco production. Decreases as against the previous month were registered in the industry of electric equipment, crude oil processing, coal production and treatment of nuclear fuels.

The turnover in the field of retail, except for sales of motor-cycles and cars, advanced by 24 percent last year compared to 2005, INS data read.

Last year growth was entailed by the sale of food products, beverages and tobacco, up 27.7 percent compared to 2005. Turnover in retail and wholesale sectors, maintenance and repair of vehicles and motorcycles, retail sale of fuel for vehicles, advanced by 18 percent, mainly as a result of the automotive trade, which advanced by 23.5 percent, the Nine O’Clock reports. Regarding the market services rendered to households, the turnover in 2006 advanced by 13.6 percent. The sale of non-edible products grew significantly.

Last year, the value registered in the construction sector increased by 19.3 percent compared to 2005, the most important growth being reported in current maintenance and works (+26.7 percent). he new construction works last year rose by 18 percent, and capital repair works by 13.5 percent, INS release read.

The most important raise was registered for engineering constructions (+21.8 percent), nonresidential buildings (+16.5 percent) and residential buildings (+16.2 percent).

Because of the imbalance in Romania’s imports and exports , the trade deficit increased by 44.4 percent, to 14.89 billion, in 2006 vs. 10.31 billion in 2005. The exports reached 25.8 billion euros in 2006, by 16.2 percent higher than in 2005. Imports grew by 25.1 percent vs. the previous year, to a total of 40.7 billion euros. The exports to the European Union advanced by 16.3 percent compared to 2005. The share of exports to the EU countries in the total exports stands at 67.7 percent. According to INS, in 2006 the final exports represented 54.8 percent, with 44.9 percent the exports of products resulting from active processing of goods temporarily imported for processing purposes, and 0.3 percent exports of goods for passive processing. The imports from the EU countries grew by 25.9 percent compared to 2005. Imports from the EU countries accounted for 62.6 percent in total imports. The largest share of imports, 78.4 percent, were final imports (products for final consumption), 19.7 percent – temporary imports of goods for active processing, and 1.9 percent – acquisitions of products resulted from passive improvement, the Nine O’Clock also said.

City of Bucharest supplies 85 percent of gross domestic product in 2006.
ING – Feb 28 2007

In the past two years the economic growth of the Bucharest region was by more than 7 percent above the national average (7.3 percent in 2005 and 7.8 percent in 2006) in the economy of the region. The city of Bucharest supplied over 85 percent of the gross domestic product, according to a study made by the National Commission on Prognosis. In 2005 the industrial output of the above-mentioned region was by 3.2 percent above the national level (2 percent). There were no important differences in the evolution of the industrial output of the region, as it was 3.4 percent in Ilfov County (southern Romania) and 3.2 percent in Bucharest. In 2006 in the Bucharest region there saw an increase of over 15 percent in constructions, 7.3 percent and 5.3 percent in the services and industry respectively and only 0.3 percent in agriculture. The Bucharest region has a structure of the GDP similar to the one of the European Union, in which the tertiary sector has a share of over 60 percent, industry, about 19 percent, and constructions, over 7.5 percent. As far as agriculture is concerned, it has a very small contribution, under one percent, in the region of Bucharest. As for the foreign trade, the Bucharest region accounts for more than 20 percent of the volume of national exports and almost 40 percent of the imports. The trade balance deficit is over 75 percent of Romania’s entire deficit. The region of Bucharest is the most important labour force market as, in 2005, it concentrated12.4 percent of Romania’s employed civil population and 18.8 percent of In the past two years the economic growth of the Bucharest region was by more than 7 percent above the national average (7.3 percent in 2005 and 7.8 percent in 2006) in the economy of the region. The city of Bucharest supplied over 85 percent of the gross domestic product, according to a study made by the National Commission on Prognosis. In 2005 the industrial output of the above-mentioned region was by 3.2 percent above the national level (2 percent). There were no important differences in the evolution of the industrial output of the region, as it was 3.4 percent in Ilfov County (southern Romania) and 3.2 percent in Bucharest. In 2006 in the Bucharest region there saw an increase of over 15 percent in constructions, 7.3 percent and 5.3 percent in the services and industry respectively and only 0.3 percent in agriculture. The Bucharest region has a structure of the GDP similar to the one of the European Union, in which the tertiary sector has a share of over 60 percent, industry, about 19 percent, and constructions, over 7.5 percent. As far as agriculture is concerned, it has a very small contribution, under one percent, in the region of Bucharest. As for the foreign trade, the Bucharest region accounts for more than 20 percent of the volume of national exports and almost 40 percent of the imports. The trade balance deficit is over 75 percent of Romania’s entire deficit. The region of Bucharest is the most important labour force market as, in 2005, it concentrated 12.4 percent of Romania’s employed civil population and 18.8 percent of the average number of wage earners. In the last few years the changes economy underwent brought about important modifications in the volume and structure of manpower. Thus, the employed population saw an ascending trend in 2005, with the highest value (1,012,100 persons) by 9.3 percent more than in 2004. In Ilfov County the growth was 11.8 percent and in the city of Bucharest, 9 percent. In the various fields of activity, in 2005 one could see an important share of employment in commercial services (44.2 percent), higher than in the previous years, followed by industry (31.5 percent), slightly lower than in the previous period, social services (19.8 percent) and only 4.5 percent in agriculture. The number of wage earners, the main component of the employed population, also saw an increase of 10 percent in 2005 (21.7 percent in Ilfov County and 9 percent in the city of Bucharest) and for 2006 the increase has been estimated at about 8 percent. The level of unemployment in late 2005 was quite low (an unemployment rate of 2.4 percent and 2.3 percent in 2006) both in the capital and in Ilfov County, below the national average. This phenomenon is connected to the more numerous investments around Bucharest, especially in non-industrial fields. The average net wages were 977 lei in 2005, up by 32.7 percent as against the previous year, by 31 percent ahead of the wages nationwide, and in 2006 there was a 13.7 percent growth according to estimates. The area of the region is 1,821 sq km, accounting for 0,08 percent of Romania’s entire area; this is the smallest region. It lies in the south-south-east of Romania in the central part of the South region and delimited by Prahova County to the north, Calarasi to the east and south-east, Giurgiu to the south and south-west and Dambovita to the west and north-west. The Bucharest region is made up of only two territorial administrative units: the city of Bucharest, Romania’s capital, and Ilfov County, which surrounds the city of Bucharest as if it were its belt. In the last few years the changes economy underwent brought about important modifications in the volume and structure of manpower. Thus, the employed population saw an ascending trend in 2005, with the highest value (1,012,100 persons) by 9.3 percent more than in 2004. In Ilfov County the growth was 11.8 percent and in the city of Bucharest, 9 percent. In the various fields of activity, in 2005 one could see an important share of employment in commercial services (44.2 percent), higher than in the previous years, followed by industry (31.5 percent), slightly lower than in the previous period, social services (19.8 percent) and only 4.5 percent in agriculture. The number of wage earners, the main component of the employed population, also saw an increase of 10 percent in 2005 (21.7 percent in Ilfov County and 9 percent in the city of Bucharest) and for 2006 the increase has been estimated at about 8 percent.The level of unemployment in late 2005 was quite low (an unemployment rate of 2.4 percent and 2.3 percent in 2006) both in the capital and in Ilfov County, below the national average. This phenomenon is connected to the more numerous investments around Bucharest, especially in non-industrial fields. The average net wages were 977 lei in 2005, up by 32.7 percent as against the previous year, by 31 percent ahead of the wages nationwide, and in 2006 there was a 13.7 percent growth according to estimates. The area of the region is 1,821 sq km, accounting for 0,08 percent of Romania’s entire area; this is the smallest region. It lies in the south-south-east of Romania in the central part of the South region and delimited by Prahova County to the north, Calarasi to the east and south-east, Giurgiu to the south and south-west and Dambovita to the west and north-west. The Bucharest region is made up of only two territorial administrative units: the city of Bucharest, Romania’s capital, and Ilfov County, which surrounds the city of Bucharest as if it were a belt.