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GROSS  DOMESTIC  PRODUCTS  IN  Q3  2017  WAS,  IN  REAL  TERMS, BY 2.6%1  HIGHER, AS COMPARED TO Q2 2017

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  • As  against  the  same  quarter  of  2016,  the  Gross  Domestic  Product  recorded  an increase  by  8.8%  for  unadjusted  series  and  by  8.6%  for  seasonally  adjusted series; ? In the period 1.I?30.IX 2017, Gross Domestic product increased by 7.0% as against the  same  period  of  the  previous  year,  for  unadjusted  series  and  by  6.9%  for seasonally adjusted series;

  • The  seasonally  adjusted  series  of  quarterly  Gross  Domestic  Product  were  re? adjusted  as  a  result  of  the  revision  of  the  estimates  for  Q3  2017,  but  no differences  were  recorded  as  compared  to  the  version  published  in  the  Press release no. 294 of November 14, 2017.

 Household expenditures had the greatest contribution to the economic growth of this year's first nine months, of respectively 6.1 pct, given that final consumption increased by 9.7 pct, informs a press release of the National Institute of Statistics (INS) sent on Tuesday. 

The Gross Domestic Product went up 7 pct in real terms, January through September 2017, as compared to last year's similar interval, amounting to over 696.7 billion lei. 

"As far as GDP use is concerned, the increase was mainly the effect of the households' final consumption spending, which advanced by 9.7 pct, contributing +6.1 pct to GDP growth and the gross fixed capital formation, with a +0.8 pct contribution, as a consequence of its increase by 3.8 pct in volume. The net export had a negative contribution to GDP growth (-0.6 pct), a consequence of the 9.6 pct rise of the goods and services exports correlated with a higher increase of the volume of goods and services imports (10.8 pct)," INS informs. 

All branches of the economy contributed to the GDP growth, with positive contributions as follows: the industry (+1.8 pct), with a 23.2 pct share in GDP formation and with a 7.6 pct rise in activity volume, wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, hotels and restaurants (+1.6pct), with a 18.2 pct share of the GDP formation and a 8.7 pct increase in activity volume. 

Moreover, agriculture, forestry and fishing (+1.1 pct) had a lower share in GDP formation (4.9 pct) but recorded a significant growth (24.3 pct) in activity volume. Professional, scientific and technical activities, administrative services and support services (+0.7 pct), had a contribution of 7.1 pct to the formation of GDP and a 9.9 pct increase in the volume of activity.



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