RSS
GDP IN Q2 2017 WAS, IN REAL TERMS, BY 1.7%1 HIGHER, AS COMPARED TO Q1 2017
-As against the same quarter of 2016, the Gross Domestic Product recorded an increase by 6.1% for the unadjusted series and by 5.9% for the seasonally adjusted series;
- In the first half of 2017, as against the same period of the previous year, the Gross Domestic product increased by 5.9% for the unadjusted series and by 5.8% 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 Q2 2017, but no significant differences were recorded as compared to the version published in the Press release no. 218 of September 5, 2017
The National Institute of Statistics (INS) has revised upwards the data regarding the advance of the Gross Domestic Product (GDP) in the second quarter of this year, so that, according to the new figures released on Tuesday, Romania's economy has gone up 1.7 pct in real terms as compared to the first quarter of this year and by 6.1 pct (gross series) Y-o-Y.
The data released at the beginning of September indicated a 1.6 pct advance of the GDP as compared to Q1, 2017, in real terms and by 5.9 pct (as gross series), Y-o-Y.
According to the figures released on Tuesday, as seasonally adjusted series, as compared to the same quarter of 2016, the GDP recorded a 5.9 pct increase (5.7 pct in September).
"The seasonally adjusted series of the quarterly GDP was recalculated as a result of the estimates for Q2, 2017 being revisited, without any significant differences being registered as compared to the version published in the Press Statement no. 218 of 5 September 2017," the INS specifies.
In the first six months of this year, the advance of the Romanian economy was 5.9 pct as gross series and 5.8 pct as seasonally adjusted series. The data released in September showed that the GDP had increased by 5.8 pct as gross series in the first six months of the year, Y-o-Y, and by 5.7 pct as seasonally adjusted series.
As seasonally adjusted series, the GDP estimated for Q2, 2017 was of approximately 208.6 billion lei current prices and for H1, 2017, it stood at 413.1 billion lei current prices.
As gross series, the GDP estimated for Q2, 2017 was 197.5 billion lei current prices, and for H1 2017 it was 361.7 billion lei current prices.
The most significant contribution to the GDP growth was brought by final consumption (5.2 pct, a slight fall as compared to the data released in September which indicated a 5.4 pct contribution).
"As compared to the provisional version (1), in Q2, 2107, the GDP dynamics has gone up by 0.2 percentage points and the one of the total gross added value, by 0.3 percentage points; the volume of net taxes per product have dropped by 0.6 percentage points. The total gross added value on branches of activity has registered more significant modifications in the following domains: public administration and defence; public system social security; education; health and social assistance (+0.3 percentage points)," reads the INS release.
From the point of view of the GDP use, significant changes were recorded in the contribution to GDP growth, between the two estimates, for the following: the gross fixed capital formation (investment - ed.n.) from 0.6 pct to 0.0 pct as a result of its reduced volume from 102.4 pct to 100.2 pct; the goods and services import, from 4.3 pct to 4.9 pct as a result of its volume increasing from 109.5 pct to 111.0 pct; the goods and services export from 2.9 pct to 4.3 pct, due to the increase in volume from 106.6 pct to 109.8 pct.