Romania Economy

Work abroad sounds like an adventure to many people. However, job search in Romania requires more than just the apparent Romania CV with Romania cover letter writing and translation, it requires thorough preparation. You will experience problems that probably did not even come to your mind when you decided to find employment in Romania.

Do not take too lightly the influence a work in Romania can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

Most visits to Romania are trouble-free but you should be aware of the risk of indiscriminate terrorist attacks, which could be against civilian targets, including places frequented by expatriates and foreign travelers like restaurants, hotels, clubs and shopping areas. You should exercise a high degree of caution due to a deteriorating security situation.
High levels of criminal activity, as well as demonstrations and protests remain a concern throughout the country. In recent years, the Romanian authorities have carried out a number of investigations and operations against terrorist networks.
Monitor local news broadcasts and consular messages. Ensure that your travel documents and visas are current, valid and secured in a safe place. Carry a photocopy of your travel documents in lieu of the originals. Maintain a low profile, vary times and routes of travel, and exercise caution while driving. Making local contacts quickly and seeking support from other expatriates will greatly increase your comfort and safety.

Romania economy - overview: Romania, which joined the European Union in 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Domestic consumption and investment have fueled strong GDP growth in recent years, but have led to large current account imbalances.

Romania's macroeconomic gains have only recently started to spur creation of a middle class and address Romania's widespread poverty. Corruption and red tape continue to handicap its business environment. Inflation rose in 2007-08, driven in part by strong consumer demand and high wage growth, rising energy costs, a nation-wide drought affecting food prices, and a relaxation of fiscal discipline.

 As a result of the global financial crisis, Romania's GDP fell more than 7% in 2009, prompting Bucharest to seek a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. Drastic austerity measures led to a 1.3% GDP contraction in 2010. The economy returned to positive growth in 2011 due to a strong export performance. In March 2011, the Romania and the IMF/EC/World Bank signed a 24-month precautionary stand-by agreement, worth $4.9 billion, to promote compliance with fiscal targets, progress on structural reforms and financial sector stability. The Romanian authorities have announced that they do not intend to draw funds from the facility. Romania hopes to adopt the euro by 2014.

Labor force - by occupation: agriculture: 29.7%, industry: 23.2%, services: 47.1% (2006); agriculture 40%, industry 25%, services 35% (1998)

Unemployment rate: 7% (2011 est.), 3.6% (2008 est.); 8.3% (2002)

Natural resources: petroleum (reserves declining), timber, natural gas, coal, iron ore, salt, arable land, hydropower

Industries: textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining

RomaniaCurrencyCurrency: New Leu (RON; symbol (plural) Lei) = 100 bani. Notes are in denominations of Lei 500, 100, 50, 10, 5 and 1. Coins are in denominations of Bani50, 10, 5 and 1.

Credit/Debit Cards and ATMs: The use of credit cards is growing. Large hotels, car hire firms and some restaurants and shops accept American Express, Diners Club, MasterCard and Visa. ATMs (bancomat) accepting MasterCard and Visa can be found in main banks, airports and shopping centers but should not be relied upon as a sole source of cash.

Traveler’s Cheques: Like credit and debit cards, these are usually only useful in hotels and for obtaining cash at the bank or selected exchange offices. To avoid additional exchange rate charges, travelers are advised to take traveler’s cheques in US Dollars or Euros.

Exchange rates: Lei (RON) per US dollar - 3.02 (2011 est.), 3.1779 (2010 est.), 3.0493 (2009), 2.5 (2008), 2.43 (2007), 2.809 (2006), 3 (2005), 3 (2004), 33,055.4 (2002), 29,060.8 (2001), 21,708.7 (2000), 15,332.8 (1999), 8,875.58 (1998)

Inflation rate (consumer prices): 3.1% (2011 est.), 7.8% (2008 est.)

Other Romania Economy Info

To be successful in your Romania job search and getting job you want, you need prepare Romania cover letter and Romania CV which you must email instantly to the prospective employers selected during job search in Romania.

When you receive an invitation to the Romania job interview, you may apply for the Romania visa and Romania work permit. Then prepare yourself for a job interview and take a look at Romania dress code because how you dress is the one of the most important attribute in being hired.

Check the job interview do & don't and other job search skills pages. Find out why people are not hired for available jobs.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Romania economy info!