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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The construction market in Romania has been witnessing a rebound since 2013 after a double-digit decline in 2008-2010 because of the global economic crisis. The market growth is led by a recovery in the real estate market and increased investments in ...
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The electric power sector in Romania is on track to become a full-fledged driver of the national economy with a significant international exposure. While the country is rich in natural resources, its power sector lacks privatisation focus and a ...
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The transport services sector generated 25.7% of the total market value of all services in 2015, thus playing a significant role for the Romanian economy. The sector is also a major employer accounting for 5.5% of total employment. Road transport, ...
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Romania’s oil and gas sector is one of the oldest in the world and ever since it took the first steps toward liberalisation, the industry has progressed substantially in terms of competition and infrastructure network. However, it failed to ...
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The Romanian financial sector has a sizable potential to catch up to regional and EU development levels. The domestic credit-to-GDP ratio amounted to 29.9% in 2015, one of the smallest numbers in Europe. The financial sector generated 3.4% of the ...
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Romania is rich in mineral resources such as fossil fuels, salt, gold, silver and non-ferrous metals. Its has the largest oil and natural gas reserves in CEE, however, current production levels are not enough to make the country self-sufficient, thus ...
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Agriculture is one of the backbone sectors of the Romanian economy. It accounts for 5.3% of GDP, but its share in employment is 29.3%. Agriculture is the largest sector in Romania in terms of employment. The monthly gross wages in the sector were ...
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Food and beverage manufacturing is the largest manufacturing sector in Romania in terms of value added. It accounts for 5%of the GDP of the country. In 2014 the domestic market for food and beverages contracted by 3.7% y/y in line with a GDP slowdown ...
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