<\/a>With an economy based mostly on services (59.5%), industry (33%), and agriculture (7.5%), Romania\u2019s GDP in 2012 was of $277.9 billion, higher than in 2011 ($277 billion). Due to it joining the North Atlantic Treaty Organization (NATO) in 2004 and the European Union (EU) in 2007, Romania completed the transition from Communism, which ended in 1989. Because of the global financial crisis, in 2009 Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. As a result, in 2009 Romania had a GDP contraction of 6.6% and in 2010 a GDP contraction of 1.1%. Due to strong exports, Romania\u2019s economy returned to positive growth in 2011, while in 2012, the growth slowed to less than 1%. With a GDP per capita of $13,000, 22.2% of Romania\u2019s total population lives under the World Bank\u2019s poverty line. Even though its transition to democracy should have been over by now, Romania\u2019s business environment is also permeated by the corruption and the red tape that still stud the country.<\/p>\n