Bucharest is the centre of the Romanian economy and industry, accounting for around 24% (2017) of the country's GDP and about one-quarter of its industrial production, while being inhabited by 9% of the country's population. Almost one-third of national taxes is paid by Bucharest's citizens and companies. The living standard in the Bucharest-Ilfov region was 145% of the EU average in 2017, according to GDP per capita at the purchasing power parity standard (adjusted to the national price level).