GDP, slightly down in Q1, 2012

The Gross Domestic Product, seasonally adjusted, estimated for the first quarter of 2012 was 145.196 billion lei current prices (1 euro = 4.45 lei), declining in real terms by 0,1 percent from the fourth quarter of 2011, according to preliminary data sent by the National Institute of Statistics to AGERPRES on Wednesday.

The GDP, seasonally adjusted value, is slightly higher than one published in June, when the INS estimated a GDP of 145.075 billion lei.

GDP, unadjusted series, estimated for the first quarter of 2012 was about 109.469 billion lei current prices, a growth in real terms by 0.3 percent from the same period last year. Revised data are lower than those of June, when the INS estimated a GDP of 109.721 billion lei.

Agriculture, forestry and fishing was the branch of activity which saw the biggest increase in workload, 4 percent, followed by information and communications, 2.2 percent, and entertainment and recreation activities, repair of household products and other services, by 1.4 percent.

The volume of construction activity remained at the same level as recorded in the first quarter of 2011.

A negative effect on GDP came from net exports, following a more pronounced reduction in exports of goods and services (minus 2.2 percent) compared with the volume of imports (minus 0.3 percent).

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