The Romanian gross domestic product grew 13.9% year-on-year in Q2 of 2021, faster than second estimates of a 13% expansion and rebounding sharply from a 0.2% contraction in the previous period. This was the first time expansion in the GDP, since Q1 2020 and the fastest pace since the series began in 1996, amid loosening the lockdown measures to contain the spread of the coronavirus and a low base effect from last year. The government expenditure rebounded sharply (4.3% vs -1.8% in Q1), while household consumption expanded faster (11.8% vs 0.8%). At the same time, fixed investment grew more (12.6% vs 11.7%). Meanwhile, net external demand contributed negatively to the GDP, as exports expanded by 41.8% (vs -0.2% in Q1) while imports rose at a faster 42.2% (vs 4.7% in Q1). On a seasonally adjusted quarterly basis, the economy advanced 1.9%, higher than an earlier estimate of a 1.8% growth, but easing from an upwardly revised 2.6% gain in Q1. source: Institutul National de Statistica
GDP Annual Growth Rate in Romania averaged 3.07 percent from 1996 until 2021, reaching an all time high of 13.90 percent in the second quarter of 2021 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 October of 2021.
GDP Annual Growth Rate in Romania is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.