Romania GDP Growth Rate

The Gross Domestic Product (GDP) in Romania expanded 1.60 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Romania is reported by the Institutul National de Statistica. GDP Growth Rate in Romania averaged 0.87 Percent from 2000 until 2013, reaching an all time high of 3.60 Percent in the first quarter of 2008 and a record low of -4.80 Percent in the first quarter of 2009. Romania is an upper-middle income economy and has been part of the European Union since 2007. In recent years, domestic consumption and foreign direct investments have been stimulating Romania's GDP growth. Yet, corruption and red tape continue to be major hurdle for the future development. The main industries in Romania are: electric machinery and equipment, textiles and footwear, light machinery and auto assembly, software, mining, timber, construction materials, metallurgy, chemicals, food processing and petroleum refining. This page provides - Romania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.60 1.80 3.60 -4.80 1.37 | 2014/03 2000 - 2013 Percent Quarterly

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Romania GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-14 08:00 AM Romania
GDP Growth Rate QoQ - P.
Q3 2013 1.6% 0.5% 1.18%
2013-12-04 08:00 AM Romania
GDP Growth Rate QoQ - Final
Q3 2013 1.6% 0.8% (R) 1.60%
2014-02-14 08:00 AM Romania
GDP Growth Rate QoQ Adv
Q4 2013 1.7% 1.6% 0.78%
2014-03-05 08:00 AM Romania
GDP Growth Rate QoQ
Q4 2013 1.5% 1.8% (R) 1.7% 1.7%
2014-05-15 10:00 AM Romania
GDP Growth Rate QoQ Adv
Q1 2014 1.6% 1.37%
2014-08-14 10:00 AM Romania
GDP Growth Rate QoQ Adv
Q2 2014 1.89%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 169.00 2012-12-31 190.00 204.00 25.10 155.23 2014-06-30 USD Billion [+]
GDP Constant Prices 32907.50 2013-11-15 32388.00 58970.00 14356.00 23548.09 2014-06-30 RON Million [+]
GDP Growth Rate 1.60 2013-12-31 1.80 3.60 -4.80 1.37 2014-03-31 Percent [+]
GDP Annual Growth Rate 5.40 2013-12-31 4.20 9.80 -8.70 3.58 2014-03-31 Percent [+]
Gross Fixed Capital Formation 8537.90 2013-11-15 8505.60 30845.00 3746.30 8018.52 2014-03-31 RON Million [+]
GDP per capita 5588.94 2012-12-31 5374.93 5675.42 3099.60 5895.03 2014-06-30 USD [+]
GDP per capita PPP 11443.49 2012-12-31 11005.29 11620.55 6346.50 12070.20 2014-06-30 USD [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Romania Manufacturing Production at 9.40 Percent  
Manufacturing Production in Romania increased 9.40 percent in February of 2014 over the same month in the previous year. Manufacturing Production in Romania is reported by the Eurostat.
Romania Social Security Rate For Employees at 16.05 Percent  
The Social Security Rate For Employees in Romania stands at 16.05 percent. Social Security Rate For Employees in Romania is reported by the Ministry of Labor, Family, and Social Protection.
Romania Social Security Rate For Companies at 38.45 Percent  
The Social Security Rate For Companies in Romania stands at 38.45 percent. Social Security Rate For Companies in Romania is reported by the Ministry of Labor, Family, and Social Protection.
Romania Social Security Rate at 54.50 Percent  
The Social Security Rate in Romania stands at 54.50 percent. Social Security Rate in Romania is reported by the Ministry of Labor, Family, and Social Protection.
Romania Government Budget at -2.30 Percent of GDP  
Romania recorded a Government Budget deficit equal to 2.30 percent of the country's Gross Domestic Product in 2013. Government Budget in Romania is reported by the Ministerul Finantelor Publice.
Romania Government Debt To GDP at 38.40 Percent  
Romania recorded a Government Debt to GDP of 38.40 percent of the country's Gross Domestic Product in 2013. Government Debt To GDP in Romania is reported by the Eurostat.
Romania Inflation Rate at 1.04 Percent  
The inflation rate in Romania was recorded at 1.04 percent in March of 2014. Inflation Rate in Romania is reported by the Institutul National de Statistica.
Romania Construction Output at -14.70 Percent  
Construction output in Romania decreased 14.70 percent in February of 2014 over the same month in the previous year. Construction Output in Romania is reported by the Eurostat.
Romania Consumer Price Index (CPI) at 100.03 Index Points  
Consumer Price Index (CPI) in Romania decreased to 100.03 Index Points in March of 2014 from 100.33 Index Points in February of 2014. Consumer Price Index (CPI) in Romania is reported by the Institutul National de Statistica.
Romania Consumer Spending at 28454.50 RON Million  
Consumer Spending in Romania increased to 28454.50 RON Million in the fourth quarter of 2013 from 28127.80 RON Million in the third quarter of 2013. Consumer Spending in Romania is reported by the Institutul National de Statistica.
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