larger cities have municipality status, which gives them greater administrative power over local affairs. The municipality of Bucharest is a special case, as it enjoys a status on par to that of a county. It is further divided into six sectors and has a prefect, a general mayor (primar), and a general city council. The NUTS-3 (Nomenclature of Territorial Units for Statistics) level divisions of the European Union reflect Romania's administrative-territorial structure and correspond to the 41 counties plus Bucharest. The cities and communes correspond to the NUTS-5 level divisions, but there are no current NUTS-4 level divisions. The NUTS-1 (four macroregions) and NUTS-2 (eight development regions) divisions exist but have no administrative capacity and are used instead for coordinating regional development projects and statistical purposes. Economy In 2019, Romania has a GDP (PPP) of around $547 billion and a GDP per capita (PPP) of $28,189. According to the World Bank, Romania is a high-income economy. According to Eurostat, Romania's GDP per capita (PPS) was 70% of the EU average (100%) in 2019, an increase from 44% in 2007 (the year of Romania's accession to the EU), making Romania one of the fastest growing economies in the EU. After 1989 the country experienced a decade of economic instability and decline, led in part by an obsolete industrial base and a lack of structural reform. From 2000 onward, however, the Romanian economy was transformed into one of relative macroeconomic stability, characterised by high growth, low unemployment and declining inflation. In 2006, according to the Romanian Statistics Office, GDP growth in real terms was recorded at 7.7%, one of the highest rates in Europe. However, the Great Recession forced the government to borrow externally, including an IMF €20 billion bailout program. According to The World Bank, GDP per capita in purchasing power parity grew from $13,687 in 2007 to $28,206 in 2018. Romania's net average monthly wage increased to 666 euro as of 2020, and an inflation rate of −1.1% in 2016. Unemployment in Romania was at 4.3% in August 2018, which is low compared to other EU countries. Industrial output growth reached 6.5% year-on-year in February 2013, the highest in the Europe. The largest local companies include car maker Automobile Dacia, Petrom, Rompetrol, Ford Romania, Electrica, Romgaz, RCS & RDS and Banca Transilvania. As of 2020, there are around 6000 exports per month. Romania's main exports are: cars, software, clothing and