Industry of Romania | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-02

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Industry_of_Romania


00:03:19 1 Construction
00:06:48 1.1 Companies
00:06:56 2 Manufacturing
00:08:49 3 Car manufacturing
00:10:27 3.1 Automobiles
00:12:19 4 High technology
00:14:52 5 Information technology
00:20:15 5.1 Economic structure and sustained growth
00:21:08 6 Steel industry
00:21:32 7 Arms industry



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SUMMARY
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Romania has been successful in developing dynamic telecommunications, aerospace, and weapons sectors. Industry and construction accounted for 32% of gross domestic product (GDP) in 2018, a comparatively large share even without taking into account related services. The sector employed 26.4% of the workforce. With the manufacture of over 600,000 vehicles in 2018, Romania was Europe's sixth largest producer of automobiles. Dacia is producing more than 1,000,000 cars a year (with 1 factory in Marrocco). 
In 2018 Romania enjoyed one of the largest world market share in machine tools (5.3%). Romanian-based companies such as Automobile Dacia, Ford, Petrom, Rompetrol and Bitdefender are well known throughout Europe. However, small- to medium-sized manufacturing firms still form bulk of the manufacturing sector. These firms employ two-thirds of the Romanian workforce.
Romania's industrial output is expected to advance 7% in 2018, while agriculture output is projected to grow 12%. Final consumption is also expected to increase by 11% overall – individual consumption by 14.4% and collective consumption by 10.4%. Domestic demand is expected to go up 12.7%.
The growth of the industrial sector was the principal stimulus to economic development. In 2018 manufacturing industries accounted for approximately 35 percent of the gross domestic product and 29 percent of the work force. Benefiting from strong domestic encouragement and foreign aid, Bucharest's industrialists introduced modern technologies into outmoded or newly built facilities at a rapid pace, increased the production of commodities—especially those for sale in foreign markets—and plowed the proceeds back into further industrial expansion. As a result, industry is expected to grow by 7.1% in 2018.Heavy industries generally were located in the south of the country. Factories in Bucharest contributed over 25 percent of all manufacturing value-added in 2018; taken together with factories in surrounding Ilfov, factories in the Bucharest area produced 26 percent of all manufacturing that year. Factories in Bucharest employed 18 percent of the nation's 3.1 million factory workers.