00:00While the most powerful countries in Europe are busy protesting against the rising cost
00:04of living, one country in Europe is gradually becoming one of the biggest economic powers.
00:10This country is Romania, known for Dracula's castle and beautiful landscapes.
00:15This country is one of the largest exporters of vehicles, food and footwear, and even natural
00:21resources, with one of the largest oil and gas reserves, making Romania one of the most
00:26energy-independent countries in Europe.
00:29In the last 20 years, the country's GDP has increased over six times, reaching over
00:35$340 billion in 2023, and it is quickly becoming a dominant force in the world economy.
00:41Some even call it the Tiger of the East.
00:45But what is Romania's secret, and what is really produced in the country?
00:50Starting a journey in Romania's economy without understanding its history is like starting
00:55a novel from the middle, so we need to take a look into country's history.
00:59In 1967, Nicolae Ceausescu became president of Romania.
01:04Under his leadership, Romania experienced a period of dictatorship, forced industrialization,
01:10and harmful economic policies.
01:12The population suffered from famine and political repression.
01:17At the end of 1989, popular discontent with Ceausescu's regime reached critical heights.
01:24Protests began throughout the country, and on December 22nd, Nicolae Ceausescu and his wife
01:29were executed.
01:31After this, Romania went through a difficult period of transition to democracy and the market
01:37economy, giving up the dictatorship.
01:40The country became a member of NATO in 2004 and joined the European Union in 2007.
01:47However, the reform process continued and was marked by the fight against corruption.
01:52The country has also made significant progress in infrastructure development, economic growth,
01:58and modernization.
02:00Romania is placed 34th in the list of exporters worldwide, and the most exported products
02:06are cars and electrical equipment.
02:08The total value of exports in 2020 was $62.2 billion, and the countries that import the most
02:16things from Romania are Germany, Italy, France, and Hungary.
02:20The automotive industry is the most developed in Romania, something that has not changed for
02:26more than a decade.
02:27There are several vehicle factories for the Dacia and Ford brands.
02:32Moreover, Romania occupies a leading place in the export of fuels, gasoline, and diesel,
02:38approximately 3.49 billion euros per year.
02:41Other products made in Romania are food, tobacco, juices, shoes, and many others.
02:46In last years, Romania has started to build several mega projects.
02:51Some are still in the development stage, and others have even been completed.
02:56We can mention the bridge over the Danube, also called the Golden Gate of Romania, due to
03:02its roughly similar size to the famous bridge.
03:04The total length of the suspension bridge is 1974 meters, and the central opening is 720 meters.
03:11By comparison, the famous Golden Gate Bridge in San Francisco is 1970 meters long and has
03:19a central span of 1280 meters.
03:22The bridge was completed and tested in the first half of 2023.
03:26There were several problems with the connecting roads, delayed by bureaucratic issues, but the
03:32bridge was opened to traffic on 6th July 2023.
03:37The total cost for this bridge exceeded 400 million dollars, but once it was completed,
03:44the bridge became the third largest suspension bridge in all of Europe.
03:48It is incredible, right?
03:51Another mega project that will help Romania become the largest gas producer in the European
03:56Union is Neptune Deep.
03:58This is the largest natural gas project in the Romanian area of the Black Sea, and the
04:04first offshore project in deep waters in Romania.
04:07Estimated investments for the development of the project amount to 4 billion euros.
04:13During exploitation, it is estimated that Neptune Deep will supply a total volume of about
04:19100 billion cubic meters of natural gas.
04:22Romania will thus become the largest gas producer in the European Union.
04:27The platform generates its own electricity, operating to the highest standards of safety and
04:33environmental protection.
04:35First production is expected in 2027 and will extract approximately 8 billion cubic meters annually
04:42for approximately 10 years.
04:45The A3 highway is under construction, starting from Bucharest to the north, going to cross
04:51the Carpathian Mountains through the Prohova Valley, cross the Transylvanian Plateau, and
04:56reach through the north of the Western Carpathians, the border crossing point with Hungary.
05:01The highway will connect the cities of Bucharest, Ployesti, Brasov, Figuras, Sigisoara,
05:06Turgu Muresh, Turda, Clujnapoca, Zalo, and Oradea.
05:12The total budget of the construction, according to the feasibility study, is around to $21 billion.
05:19It is expected that the highway will be completed by 2027, with over 600 kilometers intended for
05:26people.
05:28Therefore, Romania has progressed a lot in recent years.
05:32Do you think this will continue and become one of the top countries in Europe?
05:36Tell us what you think in the comments.
