Economy
Transylvania is rich in mineral resources, notably lignite, iron, lead, manganese, gold, copper, natural gas, salt and sulfur.
There are large iron and steel, chemical, and textile industries. Stock raising, agriculture, wine production and fruit growing are important occupations. Timber is another valuable resource.
IT, electronics and automotive industries are important in urban and university centers like Cluj-Napoca (Nokia), Timişoara (Alcatel-Lucent, Flextronics and Continental AG), Braşov, Sibiu, Oradea and Arad.
Native brands include: Roman of Braşov (trucks and buses), Azomureş of Târgu Mureș (fertilizers), Terapia of Cluj-Napoca (pharmaceuticals), Banca Transilvania of Cluj-Napoca (finance), Romgaz and Transgaz of Mediaş (natural gas), Jidvei of Alba county (alcoholic beverages), Timişoreana of Timişoara (alcoholic beverages) and others.
Transylvania accounts for around 35% of Romania's GDP, and has a GDP per capita (PPP) of around $11,500, around 10% higher than the Romanian average.
Read more about this topic: Culture Of Transylvania
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)