RSS
Romania's economy grows by 0.9 pct in Q2 and by 1.7 pct in H1
Romania's Gross Domestic Product (GDP) grew by 0.9% in Q2 2023, compared to the first three months, and it increased by 1.7% in H1 as unadjusted series and by 2.8% as seasonally adjusted series compared to the same period in 2022, according to provisional data released Thursday by the National Institute of Statistics (INS).
Compared to the same quarter of 2022, GDP grew by 1.1% as unadjusted series in Q2 2023 and by 2.7% on a seasonally adjusted basis.
"The seasonally adjusted series of quarterly Gross Domestic Product did not change significantly, as a result of the revision of the estimates for the second quarter of 2023, compared to the "signal" version published in the press release no. 202 of August 16 2023," the INS states.
Gross Domestic Product - seasonally adjusted data - estimated for Q@ 2023 stood at 39.5152 billion RON current prices, up - in real terms - by 0.9% compared to Q1 2023 and by 2.7% compared to Q2 2022, although in nominal terms there was a slight decrease compared to the previous quarter.
In terms of GDP use, the increase was mainly due to: household final consumption expenditure, whose volume increased by 3.9%, contributing +2.5% to GDP growth, and gross fixed capital formation, the volume of which increased by 11.2%, contributing +2.5% to GDP growth.
Net exports also made a positive contribution to GDP growth (+1.0%), as a result of a 0.3% increase in the volume of exports of goods and services combined with a 1.7% decrease in the volume of imports of goods and services.