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GROSS DOMESTIC PRODUCTS IN Q2 2020 WAS, IN REAL TERMS, BY 11.9%1 LOWER, AS COMPARED TO Q1 2020

- As against the same quarter of 2019, the Gross Domestic Product recorded a decrease by 10.3% for the unadjusted series and by 10.2% for the seasonally adjusted series;

In the first half of 2020, as against the same period of the previous year, the Gross Domestic product increased by 4.5% for the unadjusted series and by 3.9% for seasonally adjusted series;

The seasonally adjusted series of quarterly Gross Domestic Product were readjusted as a result of the revision of the estimates for the period 2010-2017 for implementing certain reservation placed by Eurostat during the GNI verification cycle and the revision of the estimates for Q2 2020, differences being recorded as compared to the version published in the Press release no. 230 of September 8, 2020

Seasonally adjusted series 

The Gross Domestic Product – seasonally adjusted data - estimated for Q2 2020 amounted to 244961.2 million lei current prices, decreasing – in real terms – by 11.9% against Q1 2020 and by 10.2% against Q2 2019, shows data published on Friday by the National Statistics Institute (INS).. 

The Gross Domestic Product estimated for the first half of 2020 amounted to 509994.9 million lei current prices, increasing – in real terms – by 3.9% against the first half of 2019. 

Unadjusted series 

The Gross Domestic Product estimated for Q2 2020 amounted to 223130.3 million lei current prices, decreasing – in real terms – by 10.3% as against Q2 2019.

The Gross Domestic Product estimated for the first half of 2020 amounted to 439095.5 million lei current prices, increasing – in real terms – by 4.5% as against the first half of 2019. In tables 6, 7 and 8 the information on nominal GDP, volume indices and deflators – unadjusted and seasonally adjusted series – for Q2 and the first half of 2020 is presented.

Resources

As compared to the provisional version, in Q2 2020, the GDP growth rate increased by 0.2 percentage points, (from 89,5% to 89,7%) and Gross value added growth rate by 0,3 percentage points (from 90,1% to 90,4%); the net taxes on products growth rate decreased by 1.1 percentage points. 

Gross value added volume by industries recorded more significant changes in:

- Construction (+0.3 percentage points);

- Information and communication (+0.4 percentage points);

- Shows, culture and recreation activities; repair of households goods and other services (+5.2 percentage points).

Uses

From GDP uses standpoint, significant changes in the contribution to the growth rate of GDP between the two estimates were recorded for net export of goods and services, from -2,4% to -2,1%.

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