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GROSS DOMESTIC PRODUCTS IN Q3 2017 WAS, IN REAL TERMS, BY 2.6%1 HIGHER, AS COMPARED TO Q2 2017
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As against the same quarter of 2016, the Gross Domestic Product recorded an increase by 8.8% for unadjusted series and by 8.6% for seasonally adjusted series; ? In the period 1.I?30.IX 2017, Gross Domestic product increased by 7.0% as against the same period of the previous year, for unadjusted series and by 6.9% for seasonally adjusted series;
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The seasonally adjusted series of quarterly Gross Domestic Product were re? adjusted as a result of the revision of the estimates for Q3 2017, but no differences were recorded as compared to the version published in the Press release no. 294 of November 14, 2017.
Household expenditures had the greatest contribution to the economic growth of this year's first nine months, of respectively 6.1 pct, given that final consumption increased by 9.7 pct, informs a press release of the National Institute of Statistics (INS) sent on Tuesday.
The Gross Domestic Product went up 7 pct in real terms, January through September 2017, as compared to last year's similar interval, amounting to over 696.7 billion lei.
"As far as GDP use is concerned, the increase was mainly the effect of the households' final consumption spending, which advanced by 9.7 pct, contributing +6.1 pct to GDP growth and the gross fixed capital formation, with a +0.8 pct contribution, as a consequence of its increase by 3.8 pct in volume. The net export had a negative contribution to GDP growth (-0.6 pct), a consequence of the 9.6 pct rise of the goods and services exports correlated with a higher increase of the volume of goods and services imports (10.8 pct)," INS informs.
All branches of the economy contributed to the GDP growth, with positive contributions as follows: the industry (+1.8 pct), with a 23.2 pct share in GDP formation and with a 7.6 pct rise in activity volume, wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, hotels and restaurants (+1.6pct), with a 18.2 pct share of the GDP formation and a 8.7 pct increase in activity volume.
Moreover, agriculture, forestry and fishing (+1.1 pct) had a lower share in GDP formation (4.9 pct) but recorded a significant growth (24.3 pct) in activity volume. Professional, scientific and technical activities, administrative services and support services (+0.7 pct), had a contribution of 7.1 pct to the formation of GDP and a 9.9 pct increase in the volume of activity.