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: Transylvania
Famous quotes containing the word economy:
“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)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)