RSS
IN THE YEAR 2021, AS AGAINST THE PREVIOUS YEAR, THE GROSS DOMESTIC PRODUCT INCREASED BY 5.9%
• Gross domestic product in Q4 2021 was, in real terms, by 0.1%1 lower, as compared to Q3 2021;
• As against the same quarter of 2020, the Gross Domestic Product recorded an increase by 2.4% for unadjusted series and by 3.9% for seasonally adjusted series;
• The unadjusted series, as well as the seasonally adjusted series, of quarterly Gross Domestic Product were recalculated as a result of the revision of the quarterly estimates for 2020 for reconciling them with the semi-final annual data, published in the release no. 322 of December 21, 2021, as well as a result of the revision of the estimates for Q1-Q4 2021, being modified as compared to the version published in the Press release no. 39 of February 15, 2022.
Seasonally adjusted series
The Gross Domestic Product – seasonally adjusted data - estimated for Q4 2021 amounted to 303812.0 million lei current prices, decreasing – in real terms – by 0.1% as against Q3 2021 and increasing by 3.9% as against Q4 2020, announced on Thursday, the National Institute for Statistics (INS).
Unadjusted series
The Gross Domestic Product estimated for Q4 2021 amounted to 355194.9 million lei current prices, increasing – in real terms – by 2.4% as against Q4 2020.
The Gross Domestic Product estimated for the year 2021 amounted to 1179376.9 million lei current prices, increasing – in real terms – by 5.9% as against the year 2020.
The contribution of resources and uses to the growth rate of GDP
Resources
Most of industries contributed to the GDP increase in the year 2021 as against 2020. Significant positive contributions had the following industries:
- Wholesale and retail; motor-vehicles and motorcycles repair; transport and storage; hotels and restaurants (+1.7%), with a share of 19.0% in GDP, whose activity volume increased by 9.5%;
- Industry (+1.0%), with a share of 213% in GDP, whose activity volume increased by 5.0 %;
- Information and communication (+0.8%), with a share of 6.4% in GDP, whose activity volume increased by 13.4 %;
- Net taxes on products (+0.8%), with a share in GDP of 9.5%, which recorded an increase in activity volume by 8.2%.
Construction recorded a negative contribution to GDP growth rate (-0.1%) as a result of the volume decrease by 1.8%.
Uses
From GDP uses standpoint, the increase was, mainly, due to:
- Final consumption expenditure of households whose volume increased by 7.8% contributing by +4.7% to the GDP growth rate;
- Gross fixed capital formation, whose volume increased by 4.0% contributing by +0.9% to the GDP growth rate.
Net export had a negative contribution to the GDP growth rate change (-1.5%), being influenced by the volume increase of imports of goods and services, by 13.7%, in correlation with a smaller increase of the volume of exports of goods and service, by 11.1%.