The Romanian GDP expanded 4.3 percent year-on-year in the third quarter of 2018, in line with preliminary estimates but above a 4.1 percent growth in June quarter, second estimates showed. The economic growth mainly was driven by a 1.4 percent rise in government spending (from -9 percent in Q2). Meantime, private consumption continued to increase (4.4 percent from 5.4 in Q2). On the other hand, investment declined at a faster 1.6 percent, after a 0.6 percent fall in Q2 and net trade contributed negatively to growth as exports rose 2.8 percent while imports increased at a faster 6.5 percent. On a seasonally adjusted quarterly basis, the economy grew 1.9 percent, compared to an upwardly revised 1.5 percent growth in the June quarter. GDP Annual Growth Rate in Romania averaged 3.06 percent from 1996 until 2018, reaching an all time high of 10.70 percent in the second quarter of 2008 and a record low of -8.30 percent in the second quarter of 2009.
GDP Annual Growth Rate in Romania is expected to be 4.50 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 3.40 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.