Long into the 1900s, Romania was still a largely agricultural country. During Communism 1947-1989, the country had planned economy. The transition from planned economy to a market economy after the communist regime led to economic collapse in the 1990s, the reasons was that more money was printed, expensive prices and substantial privatization of the companies, which initially leads to skyrocketing unemployment. The reforms in the 1990s allowed foreign investors for the first time to buy land in Romania. When it was going well for industry in the Latin countries such as France, Italy and Spain, they began to trade with Romania. Foreign companies have expanded in Romania since then, and spurs the market.
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