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THE GROSS DOMESTIC PRODUCT INCREASED BY 3.8% IN 2015
- Gross domestic product in Q4 2015 was, in real terms, by 1.1%1 higher, as compared to Q3 2015;
- As against the same quarter of 2014, the Gross Domestic Product recorded an increase by 3.8% for both unadjusted series and for seasonally adjusted series;
- The seasonally adjusted series of quarterly Gross Domestic Product was re? adjusted as a result of the revision of the GDP unadjusted series for 2015, no significant changes being recorded as compared to the version published in the Press release no. 58 of March 8, 2016.
Romania's gross domestic product has grown in 2015 by 3.8 percent in real terms, to 712.832 billion lei current prices in the unadjusted series, the National Institute of Statistics (INS) announced Friday.
The INS has recalculated the seasonally adjusted series of the GDP, following a review of the estimates for 2015; there are no significant changes from the figures already published on 8 March.
Seasonally adjusted data show a 1.1pct advance of the GDP in the fourth quarter of 2015, on a Q3 basis, for a year-on-year increase by 3.8pct. Unadjusted data reveal the same 3.8pct YOY growth in Q4, to 212.058 billion lei current prices.
The gross value added in 2015 is unchanged, but there are some changes by activities: +0.2 percentage points in public administration and defence, social insurance of the public sector, education, and health and social assistance; +0.1 percentage points in information and communication; and -0.1 percentage points in shows, culture and recreation, repair of household goods, and other services.
Net taxes on products growth rate decreased by 0.1 percentage points.
By categories of use, there were significant changes in the contribution to the GDP growth for the actual individual consumption of households, from +3.9pct to +4.0pct, as a result of their activity volume increase from 105.8pct to 105.9pct; for the gross fixed capital formation, from +1.8pct to +2.1pct, as a result of their activity volume increase from 107.5pct to 108.8pct; for the imports of goods and services, from +3.5pct to +3.8pct, as a result of their activity volume
increase from 108.4pct to 109.1pct; and for the exports of goods and services, from +1.9pct to +2.3pct, as a result of their activity volume increase from 104.7pct to 105.5pct.
The seasonally adjusted series of quarterly GDP did not change significantly after the revision of the estimates for 2015, as compared to provisional data published on 8 March.
The "flash" estimates for the Q1 2016 GDP will be published on 13 May.