RSS
GROSS DOMESTIC PRODUCTS IN Q3 2016 WAS, IN REAL TERMS, BY 0.6%1 HIGHER, AS COMPARED TO Q2 2016
-
As against the same quarter of 2015, the Gross Domestic Product recorded an increase by 4.4% for unadjusted series and by 4.6% for seasonally adjusted series;
-
In the period 1.I-30.IX 2016, Gross Domestic product increased by 4.9% as against the same period of the previous year, for unadjusted series and by 4.8% 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 Q3 2016, but no differences were recorded as compared to the version published in the Press release no. 298 of November 15, 2016.
Romania's three-quarter economic growth this year was based mainly on the population's final consumer spending, which increased by 8.9 percent, contributing 5.6 percent to GDP growth, while investments rose 1.3 percent, according to provisional data released on Tuesday by the National Institute of Statistics (INS).
Romania's GDP grew 4.4 percent in Q3 and advanced 4.9 percent in the first nine months of the year.
"By the use of GDP, the growth drivers were the households' final consumer spending, which increased by 8.9 percent and contributed + 5.6 percent to the GDP growth; the gross fixed capital formation, which contributed +1.3 percent as a result of its 5.3 percent increase in volume. Net exports had a negative contribution of -1.3 percent to GDP growth as an effect of the 6.8 percent advance in exports of goods and services correlated with a higher growth in the volume of imports of goods and services (9.9 percent)," reads the document.
By resource categories, all economy sectors contributed to GDP growth between January - September 2016 compared to the similar period of 2015. The most noteworthy positive contributions were from wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, hotels and restaurants (+1.9 percent), which contributed 17.4 percent to the GDP and which registered a volume increase of 11.9 percent. Other sectors are: IT & C, which inched up by 0.8 percent and contributed 6.3 percent to the GDP formation, but on the other hand registered a 13.7 percent increase in the volume of activity; industry (+ 0.4 percent), with a 22.7 percent share of the GDP formation and a 1.8 percent increase in the volume of activity; professional, scientific and technical activities, administrative services and support services (+0.4 percent), with a contribution of 7.3 percent to the formation of GDP and with a 6 percent increase in the volume of activity; net taxes on products (0.4 percent), with a share of 10.6 percent of the GDP formation and a 2.9 percent rise in the volume of activity.
The GDP estimated for the period January-September 2016 exceeds 532.921 billion lei in current prices (unadjusted series), up 4.9 percent in real terms. The GDP estimate for Q3 2016 was 207.34 billion lei (unadjusted series), up 4.4 percent in real terms from Q3 2015. The GDP growth compared to the second quarter of 2016 was 0.6 percent.