Page 33 - Turkinsurance Digital Magazine

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ROMANIA

With a population of 21,4 million, Romania is among major countries in Europe. It is
also one of the countries with largest oil reserves in the European continent, and known

as the 4th most rapidly growing country in terms of tourism at the same time.

Romania is generally dominated by a temperate climate, with accounts for 14.3%. People between 55 and 64 years old corre-
rainy, snowy, foggy and cold winters. The country is rich in terms spond to 12.3 % of the population, while the remaining 10.4%
of natural reserves such as oil, timber, shale gas, coal, iron, salt are people between 15 and 24 years old.
and hydroelectric power.
GDP real growth rate up to 6.9%
Located in the Southeastern Europe between Bulgaria and
Ukraine, Romania covers a surface area of 238,391 square Real growth rate of Romanian Gross Domestic Product (GDP)
kilometers. It borders Bulgaria, Hungary, Moldovia, Serbia and increased up to 6.9% as of 2017, reaching 211.9 billion USD.
Ukraine; and has a coastline of 225 kilometers long. 28.7 per- GDP per capita is 24,600 USD. Service sector stands out with
cent of Romania is covered in forests and 60.7 percent in culti- its contribution to GDP with a share of 62.6%, followed by in-
vable lands. Earthquakes and landslides are the most dangerous dustry with 33.2% and agriculture with 4.2&%.
natural threats for the country.
Major agricultural products of Romania are wheat, corn, barley,
sugar beet, potato, grape, egg and lamb. Major industrial sectors
46.1% of the population is between 25 are automobile assembly, electrical machinery and equipment,
and 34 years old textile, shoes, metallurgy, chemicals, food processing, oil refin-
ery, mining, timber and construction materials. Latest recorded
growth of industrial production is 5.5%.
Romania’s population stands at 21,457,116, with an estimated
growth rate of -0.35%. Female population accounts for 51.3%
and male population accounts for 48.7% percent of the people Selected indicators for Romania
living in the country. 54.1% of the entire population lives in ur- Population 21,4 million
ban areas. Bucharest is the major urban area in Romania. Aver- GDP Per Capita 24,600 USD
age life expectancy is estimated at 75.6 years; but at 72.1 years
for females and 79.2 for males. Literacy rate of the population Unemployment rate 4,9%
stands at 99.1%, while unemployment rate for young people be- GDP 211,9 billion USD
tween 15 and 24 years old is 18.3%. 22.4% of the population
lives below the poverty line. Inflation rate 1,3%
Number of insurance companies 28
Majority of Romanian population consists of people between 25
and 34 years old with 46.1%. People older than 64 accounts Total premium production in 2017 2,4 million USD
for 16.7% of the population, while children between 0 and 14 Number of employees in insurance sector 9.898