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March 23, 2023

Bucharest, Constanta, Cluj, Prahova, in the top of the national ranking according to GDP in 2017

An analysis of the economic indicators corresponding to the recently ended year revealed what is the place of each county according to the Gross Domestic Product (GDP), in a country-level ranking. Thus, according to the report presented by the Prahova Chamber of Commerce and industry, the national ranking of the counties according to the GDP in 2017 revealed that the first place is taken by Bucharest (EUR 47.924 billion), which is followed, in this order, by the following counties: Constanta (EUR 8.713 billion), Cluj (EUR 8.423 billion), Prahova (EUR 8.199 billion), Timis (EUR 8.198 billion), Brasov (EUR 6.054 billion), Iasi (EUR 5.574 billion), Dolj (EUR 4.955 billion), Ilfov (EUR 4.944 billion), Arges (EUR 4.666 billion).

As indicated by the data provided by the Prahova Chamber of Commerce and Industry, which have been also confirmed by the National Forecast Commission, compared to 2016, one of the mentioned counties – Prahova – recorded a one-step ascension. But the fourth place taken by Prahova County in the national ranking of the counties according to the GDP in 2017 is also supported by the increasing number of the new registered companies, including those with foreign capital. “In the balance sheet submitted on December 31, 2016, a number of 21,801 registered companies was mentioned, of which 2,320 companies with foreign capital, from 70 countries. 3,021 new companies have been registered in 2017, representing 2.90% of the number of the companies established at national level, in the circumstances in which 2.130 companies have been set up in 2016.  Also, 120 new companies with foreign capital have been registered in 2017 (compared to 112 in 2016), representing 2.25% of the companies set up at national level” announced the management of the Prahova Chamber of Commerce and Industry. The provided data also revealed that a higher number of employees was recorded in Prahova County in 2017 – 178,877 people, of which 140,565 are employees of trade companies, compared to 2016, when the number of employees was 177,059. Also according to the same statistic data, the salary level of the last year is also higher – the average gross salary was RON 3,084, compared to 2016, when it was RON 2,984. On the other hand, the data also indicated that the unemployment rate in Prahova County was lower than the one recorded at national level. Specifically, it was 3.08% in Prahova and 4.04% at the country level, as indicated by the data of October 2017.

We would also like to mention that 2017 was a good year for Prahova County also because it continue to attract foreign investors, especially in the industry field. We remind in this case that last year, the world leader on the cone roller bearing market – the American company Timken – opened a new plant in Prahova, designed to meet the global demand. The plant was inaugurated in mid-June 2017, being attended by the Timken Vice President for Europe, Asia and Africa and by the US Ambassador in Romania, Hans Klemm. The investment is located in Ploiesti West Parc, Aricestii Rahtivani, and it is made after 20 years since the bearing production was started in Romania by purchasing the former heavy bearing plant in Ploiesti. The new plant will produce Timken cone roller bearings, being planned to produce 1.4 million bearings in one year. The plant is arranged on 15,000 sqm, almost USD 60 million being invested in the most modern technologies.

Calsonic Kansei – one of the world’s most important automotive parts provider – also announced the expansion of its already existing business in Prahova, at Ploiesti industrial Parc, one of the largest industrial parks in Romania. The Greenfield investment which involves the construction of a new electronic parts plant for the automotive industry, will be started this year, and the serial production will start in 2020. Last but not least, the Rockwool Danish Group announced that it will invest EUR 50 million in a basalt mineral wool plant. The plant will be placed on a 30-hectare land in Ploiesti Wast Parc, in the commune Aricestii Rahtivani, and the basalt mineral wool production is expected to start in 2019.

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