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GROSS DOMESTIC PRODUCTS IN Q3 2020 WAS, IN REAL TERMS, BY 5.8%1 HIGHER, AS COMPARED TO Q2 2020

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- As against the same quarter of 2019, the Gross Domestic Product recorded a decrease by 5.7% for both unadjusted series and for the seasonally adjusted series;

- In the period 1.I-30.IX 2020, as against the same period of the previous year, the Gross Domestic product decreased by 5.0% for the unadjusted series and by 4.5% for the seasonally adjusted series;

- The seasonally adjusted series of quarterly Gross Domestic Product did not changed as a result of the revision of the estimates for Q3 2020, as compared to the provisional version, published in the Press release no. 314 of December 8, 2020;

- The Gross domestic product flash estimates, as well as the provisional ones, are affected by the difficulties posed by the pandemic crisis and by the establishment of the State of emergency. These difficulties are connected to the collection of basic data representing entries for national accounts and have materialized by an increase of the non-response rate. To complete the information alternative data sources had been used in order to affect as less as possible the quality of the produced indicators. According to current practice, the data published today will be revised, according to the Press Release Calendar and the national accounts revision policy published on NIS web-site, when new data sources become available.

The Gross Domestic Product – seasonally adjusted data - estimated for Q3 2020 amounted to 259597.2 million lei current prices, increasing – in real terms – by 5.8% against Q2 2020 and decreasing by 5.7% against Q3 2019. The estimates of the Gross Domestic Product – seasonally adjusted series in the provisional and versions, as well as the differences between the two versions, are presented in the table bellow.

The Gross Domestic Product estimated for the period 1.I-30.IX 2020 amounted to 769494.8 million lei current prices, decreasing – in real terms – by 4.5% against the period 1.I-30.IX 2019.

The Gross Domestic Product estimated for Q3 2020 amounted to 285216.7 million lei current prices, decreasing – in real terms – by 5.7% as against Q3 2019. The estimates of the Gross Domestic Product – unadjusted series in the provisional (1) and (2) versions, as well as the differences between the two versions, are presented in the table bellow. 

The Gross Domestic Product estimated for the period 1.I-30.IX 2020 amounted to 724312.2 million lei current prices, decreasing – in real terms – by 5.0% as against the period 1.I-30.IX 2019. In tables 6, 7 and 8 the information on nominal GDP, volume indices and deflators – unadjusted and seasonally adjusted series – for Q3 and the period 1.I-30.IX 2020 is presented.

Resources 

As compared to the revised provisional version, in Q3 2020 provisional version, the GDP volume changed by +0.3 percentage points while the gross value added volume did not change. Gross value added volume recorded more significant changes in: - Shows, culture and recreation activities; repair of households goods and other services (+5.3 percentage points), from 70.9% to 76.2%; - Wholesale and retail; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants (-1.3 percentage points), from 96.8% to 95.5%; - Information and communication (+0.9 percentage points), from 106.5% to 107.4%. The net taxes on products growth rate increased by 0.3 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: - Final consumption expenditure of General government, from 0.0% to +0.4%, as a result of their activity volume increase from 99.7% to 102.8%. - Export of goods and services, from -3.0% to -2.3%, as a result of their activity volume increase from 91.7% to 93.6%.

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