The Romanian GDP expanded 4.4 percent year-on-year in the second quarter of 2019, matching preliminary estimates, but below a 5.0 percent growth in the previous period, a second estimate showed. Household consumption slowed (5.3 percent vs 7 percent in Q1) while net foreign demand contributed negatively to growth, as exports went up 0.5 percent while imports rose at a faster 3.6 percent. Meantime, fixed investment rose faster (18 percent vs 3.9 percent) and government expenditure rebounded (1.6 percent vs -1.1 percent). On a seasonally adjusted quarterly basis, the economy advanced 1.0 percent in the second quarter, compared to a 1.2 percent expansion in the prior quarter. GDP Annual Growth Rate in Romania averaged 3.24 percent from 1996 until 2019, reaching an all time high of 12.60 percent in the fourth quarter of 2004 and a record low of -7.40 percent in the third quarter of 1997.
GDP Annual Growth Rate in Romania is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Romania to stand at 3.70 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 3.30 percent in 2020, according to our econometric models.