The Romanian gross domestic product expanded 2.4 percent year-on-year in the first quarter of 2020, as initially estimated, after a 4.3 percent expansion in the previous period. This was the weakest GDP growth since the second quarter 2014, as both household consumption (3.8 percent vs 7.3 percent in Q4) and fixed investment (13.1 percent vs 15.7 percent) eased. Also, government expenditure shrank (-4.1 percent vs 10.5 percent). In addition, net foreign demand contributed negatively to growth, as exports went down 1.3 percent while imports rose 2.9 percent. On a seasonally adjusted quarterly basis, the economy advanced 0.3 percent, the least since the third quarter of 2016, following a 1.2 percent growth in the fourth quarter.
GDP Annual Growth Rate in Romania averaged 3.26 percent from 1996 until 2020, 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. This page provides the latest reported value for - Romania GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Romania GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Institutul National de Statistica
GDP Annual Growth Rate in Romania is expected to be -9.30 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 12.00 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 8.80 percent in 2021 and 3.80 percent in 2022, according to our econometric models.