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.

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Romania GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-07 06:00 AM YoY 2nd Est Q2 13% -0.2% 13.0%
2021-10-11 06:00 AM YoY Final Q2 13.9% -0.2% 13%
2021-11-16 07:00 AM YoY Prel Q3 13.9% 8%


News Stream
Romanian Q2 GDP Growth Revised Higher to 13.9%
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.
2021-10-11
Romanian Q2 GDP Annual Growth Hits Record High
The Romanian gross domestic product grew 13 percent year-on-year in the second quarter of 2021, rebounding sharply from a 0.2 percent 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 easing the lockdown measures to contain the spread of the coronavirus and a low base effect last year. The government expenditure rebounded sharply (7.8% vs -1.8% in Q1), while household consumption expanded faster (10.1% vs 0.8%). At the same time, fixed investment grew faster (12.0% vs 11.7%). Meanwhile, net external demand contributed negatively to the GDP, as exports expanded by 40.3 percent (vs -0.2% in Q1) while imports rose at a faster 40.4 percent (vs 4.7% in Q1). On a seasonally adjusted quarterly basis, the economy advanced 1.8 percent, easing from a 2.5 percent growth in the first quarter.
2021-09-07
Romanian Q2 GDP Annual Growth Hits Record High
The Romanian gross domestic product advanced 13 percent year-on-year in the second quarter of 2021, rebounding sharply from a 0.2 percent contraction in the previous period. This was the first time expansion in the GDP, and the fastest pace since the series began in 1996, amid easing the lockdown measures to contain the spread of the coronavirus and a low base effect last year. On a seasonally adjusted quarterly basis, the economy expanded 1.8 percent, slowing from a downwardly revised 2.5 percent growth in the first quarter 2021.
2021-08-17

Romania Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.90 percent Jun/21 2.60 6.10 -11.10
GDP Annual Growth Rate 13.90 percent Jun/21 -0.20 13.90 -10.10
GDP Constant Prices 44037.40 RON Million Jun/21 43645.20 44037.40 19609.40
Gross Fixed Capital Formation 13490.50 RON Million Jun/21 13075.70 14363.70 3222.20
GDP From Services 13898.90 RON Million Jun/21 13554.20 13898.90 3420.40
GDP From Public Administration 1797.60 RON Million Jun/21 1764.40 2020.50 1280.50
GDP From Manufacturing 9389.20 RON Million Jun/21 9504.90 10302.30 4776.90
GDP From Construction 2192.00 RON Million Jun/21 2229.80 3600.00 962.70
GDP From Agriculture 2473.60 RON Million Jun/21 2774.60 3378.90 1849.10


Romania GDP Annual Growth Rate
On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (14 percent). Exports of goods and services account for 41 percent of GDP and imports account for 41 percent.