The Romanian gross domestic product shrank 0.2 percent year-on-year in the first quarter of 2021, following a 1.4 percent contraction in the previous period. This was the fourth straight quarter of contraction in the GDP, but the smallest decline in the current sequence, amid easing the lockdown measures to contain the spread of the coronavirus. Net external demand contributed negatively to the GDP, as exports dropped by 0.2 percent (vs -2.3% in Q4) while imports increased 4.7 percent (vs 2.2% in Q4). Also, the government expenditure contracted less (-1.8% vs -2.3% in Q4). On the positive note, household consumption rebounded (0.8% vs -6.2%) while fixed investment grew faster (11.7% vs 6.5%). On a seasonally adjusted quarterly basis, the economy advanced 2.9 percent, faster than a preliminary estimate of a 2.8 percent growth, but easing from a 4.6 percent growth in the fourth quarter 2020. source: Institutul National de Statistica
GDP Annual Growth Rate in Romania averaged 2.96 percent from 1996 until 2021, reaching an all time high of 12.60 percent in the fourth quarter of 2004 and a record low of -10 percent in the second quarter of 2020. 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 2021.
GDP Annual Growth Rate in Romania is expected to be 8.00 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 4.50 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 6.50 percent in 2022 and 5.00 percent in 2023, according to our econometric models.