The Romanian GDP growth was confirmed at 3.0 percent year-on-year in the third quarter of 2019, softer than a 4.4 percent expansion in the previous period. This was the weakest GDP growth since the second quarter 2014, as household consumption slowed (2.0 percent vs 5.1 percent in Q2), while government expenditure fell (-0.3 percent vs 15.3 percent). Also, net foreign demand contributed negatively to growth, as exports went up 4.2 percent while imports rose at a faster 9.0 percent. Meantime, fixed investment advanced faster (25.6 percent vs 18.9 percent). On a seasonally adjusted quarterly basis, the economy advanced 0.5 percent in the third quarter, compared to a 0.8 percent expansion in the prior quarter. This was the weakest GDP growth rate since the second quarter of 2014. GDP Annual Growth Rate in Romania averaged 3.23 percent from 1996 until 2019, reaching an all time high of 12.60 percent in the fourth quarter of 2004 and a record low of -7.40 percent in the third quarter of 1997. source: Institutul National de Statistica

GDP Annual Growth Rate in Romania is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Romania to stand at 4.10 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 4.20 percent in 2020, according to our econometric models.


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Romania GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.00 4.40 12.60 -7.40 1996 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-10 06:00 AM GDP Growth Rate YoY Final Q2 4.4% 5.0% 4.4%
2019-11-14 07:00 AM GDP Growth Rate YoY Prel Q3 3.0% 4.4% 3.8% 3.8%
2019-12-05 07:00 AM GDP Growth Rate YoY 2nd Est Q3 3.0% 4.4% 3.0%
2020-01-14 07:00 AM GDP Growth Rate YoY Final Q3 3.0% 4.4% 3.0%
2020-02-14 07:00 AM GDP Growth Rate YoY Prel Q4 3.0% 3.9%


News Stream
2019-12-05
Romanian Q3 GDP Annual Growth Confirmed at 3%
The Romanian GDP expanded 3.0 percent year-on-year in the third quarter of 2019, matching preliminary estimates, but below a 4.4 percent growth in the previous period, a second estimate showed. This was the weakest GDP growth since the second quarter 2014, as both household consumption (4.2 percent vs 5.1 percent in Q2) and government expenditure (5.7 percent vs 15.3 percent) slowed. Also, net foreign demand contributed negatively to growth, as exports went up 3.7 percent while imports rose at a faster 7.5 percent. Meantime, fixed investment advanced faster (23.9 percent vs 18.9 percent). On a seasonally adjusted quarterly basis, the economy advanced 0.6 percent in the third quarter, compared to a 0.8 percent expansion in the prior quarter.

2019-11-14
Romanian Q3 GDP Growth Weakest in Over 4 Years
The Romanian GDP expanded 3.0 percent year-on-year in the third quarter of 2019, following a 4.4 percent growth in the previous period, and below market expectations of 3.8 percent growth, a preliminary estimate showed. This was the weakest GDP growth since the second quarter 2014. On a seasonally adjusted quarterly basis, the economy advanced 0.6 percent in the third quarter, compared to a downwardly revised 0.8 percent expansion in the prior quarter.

2019-10-10
Romanian Q2 GDP Annual Growth Confirmed at 4.4%
The Romanian GDP expanded 4.4 percent year-on-year in the second quarter of 2019, matching second estimates, but below a 5.0 percent growth in the previous period. Household consumption slowed (5.1 percent vs 7 percent in Q1) while net foreign demand contributed negatively to growth, as exports went up 3.3 percent while imports rose at a faster 5.2 percent. Meantime, fixed investment rose faster (18.9 percent vs 3.9 percent) and government expenditure rebounded sharply (15.3 percent vs -1.1 percent). On a seasonally adjusted quarterly basis, the economy advanced 1.0 percent in the second quarter, compared to a 1.2 percent expansion in the prior quarter.

2019-09-06
Romanian Q2 GDP Annual Growth Confirmed at 4.4%
The Romanian GDP expanded 4.4 percent year-on-year in the second quarter of 2019, matching preliminary estimates, but below a 5.0 percent growth in the previous period, a second estimate showed. Household consumption slowed (5.3 percent vs 7 percent in Q1) while net foreign demand contributed negatively to growth, as exports went up 0.5 percent while imports rose at a faster 3.6 percent. Meantime, fixed investment rose faster (18 percent vs 3.9 percent) and government expenditure rebounded (1.6 percent vs -1.1 percent). On a seasonally adjusted quarterly basis, the economy advanced 1.0 percent in the second quarter, compared to a 1.2 percent expansion in the prior quarter.

2019-08-14
Romanian GDP Annual Growth Rate Below Forecast
The Romanian GDP expanded 4.4 percent year-on-year in the second quarter of 2019, following a 5.0 percent growth in the previous period, and below market expectations of 4.5 percent growth, a preliminary estimate showed. On a seasonally adjusted quarterly basis, the economy advanced 1.0 percent in the second quarter, compared to a downwardly revised 1.2 percent expansion in the prior quarter.

2019-07-08
Romanian Q1 GDP Annual Growth Confirmed at 5%
The Romanian GDP expanded 5.0 percent year-on-year in the first quarter of 2019, matching second estimates and above a 4.1 percent growth in the December quarter, a final figure showed. It was the strongest GDP growth since the fourth quarter of 2017, mainly driven by a 7.0 percent rise in private consumption (from 5.3 in Q4). Also, investment rose 3.9 percent, rebounding from a 3.2 percent fall in Q4 while government spending shrank less (-1.1 percent from -10 percent in Q4). Conversely, net trade contributed negatively to GDP growth as exports rose 4.9 percent while imports increased at a faster 9.3 percent. On a seasonally adjusted quarterly basis, the economy grew 1.3 percent in the first quarter, compared to a 1.0 percent expansion in the prior quarter.


Romania GDP Annual Growth Rate
On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (14 percent). Exports of goods and services account for 41 percent of GDP and imports account for 41 percent.

Romania GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.80 6.10 -7.10 percent [+]
GDP Annual Growth Rate 3.00 4.40 12.60 -7.40 percent [+]
GDP 239.55 211.41 239.55 25.12 USD Billion [+]
GDP Constant Prices 42820.40 42772.90 42820.40 19609.40 RON Million [+]
Gross Fixed Capital Formation 12536.30 11681.00 14363.70 3222.20 RON Million [+]
GDP per capita 11534.90 11016.80 11534.90 4349.90 USD [+]
GDP per capita PPP 24543.99 23441.61 24543.99 9255.82 USD [+]
GDP From Agriculture 2971.40 3048.80 3378.90 1849.10 RON Million [+]
GDP From Construction 2531.40 2507.10 3600.00 962.70 RON Million [+]
GDP From Manufacturing 9980.40 10048.30 10302.30 4776.90 RON Million [+]
GDP From Public Administration 1743.10 1750.70 2020.50 1280.50 RON Million [+]
GDP From Services 12815.70 12853.00 12853.00 3420.40 RON Million [+]