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IN 2015, AS AGAINST THE PREVIOUS YEAR, THE GROSS DOMESTIC PRODUCT INCREASED BY 3.7%
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Gross domestic product in Q4 2015 was, in real terms, by 1.1%1 higher, as compared to Q3 2015;
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As against the same quarter of 2014, the Gross Domestic Product recorded an increase by 3.7% for unadjusted series and by 3.8% for seasonally adjusted series;
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The seasonally adjusted series of quarterly Gross Domestic Product was re? adjusted as a result of the revision of the GDP unadjusted series for 2012?2014 for reconciling with the annual data ( 2012 and 2013 – final version, 2014 – semi?final version) and of including the estimates for Q4 2015, being revised as compared to the version published in the Press release no. 43 of 12 February 2016.
Romania's economy grew by 3.7 percent in 2015, in real terms, on a 2014 basis, according to provisional data released on Tuesday by the National Institute of Statistics. In the last quarter of 2015, the gross domestic product advanced by 1.1pct on a Q3 basis.
The estimated 2015 GDP was 710.267 billion lei current prices. The Q4 GDP was 180.047 billion lei current prices in seasonally adjusted data, and 209.997 billion lei in the unadjusted series.
The Q4 2015 GDP growth was 3.7pct year on year in the unadjusted series, and 3.8pct YOY in the seasonally adjusted series.
All the industries contributed to this growth, except agriculture, forestry and fishing.
In terms of GDP expenditure, final consumption of households increased by 6.2pct, which contributed 3.8pct to the GDP growth; gross fixed capital formation advanced by 7.5pct, or a contribution of 1.8pct to the growth, while net export had a negative contribution of 1.6pct.
The National Prognosis Commission had estimated last spring a 2015 growth of 3.3pct; in November, it reviewed the figure up to 3.6pct; finally, the winter prognosis was 3.7pct. For 2016, the forecast went from 3.4pct up (spring 2015) to 3.6pct (autumn) and to 4.2 (winter). The current prognosis for 2017 is a 4.3pct higher GDP, revised from the autumn figure of 4.2pct.