 Romania is a country located in Southeastern and Central Europe, North of the Balkan Peninsula, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea. Romania shares a border with Hungary and Serbia to the west, Ukraine and the Republic of Moldova to the northeast, and Bulgaria to the south.
With the fall of the Iron Curtain in 1989, Romania started a series of political and economic reforms. After a decade of post-revolution economic problems, Romania made economic reforms such as low flat tax rates in 2005 and joined the European Union on January 1, 2007. While Romania’s income level remains one of the lowest in the European Union, reforms have increased the growth speed. Romania is now an upper-middle income country economy. 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 country, however, maintains a large trade deficit, which increased sharply during 2007 by 50%, to €15 billon. Population: 21,498,616 (2009) Please upgrade your Flash Player
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