Romania

Romania jumped 4 places to 39th, though most of the move was currency and prices rather than output. US$ GDP rose 12.1% to US$428.7 billion while real growth was just +0.7%; the 11.4-percentage-point gap was mostly exchange-rate and price effects. It now sits behind Bangladesh and ahead of Hong Kong SAR, China.

Services make up 61.7% of output and industry 25.3%, with manufacturing at 11.8% and agriculture at 3.0%. Inflation ran at 7.2%, unemployment at 6.0% and government gross debt at 60.4% of GDP.

The long run is the bigger story. GDP has grown 11.5x since 2000, when it stood at US$37.3 billion and ranked 59th. Output per person is now US$22,538, 59th of 196, and $50,895 international dollars on a purchasing-power basis, 50th. The economy is about the size of the Phoenix, AZ metro area. The IMF projects US$596.6 billion by 2030, up 39%, which would keep it 39th.