The Romanian gross domestic product advanced 2.4 percent year-on-year in the first quarter of 2020, matching preliminary estimates, after a 4.3 percent expansion in the previous period, the second estimate showed. 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 government expenditure growth (0.7 percent vs 10.5 percent) slowed. Also, fixed investment expanded softer (5.9 percent vs 15.7 percent). In addition, net foreign demand contributed negatively to growth, as exports went down 5.5 percent while imports rose 0.8 percent. On a seasonally adjusted quarterly basis, the economy grew 0.3 percent, the least since the third quarter of 2016, after 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 -14.40 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 -7.00 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.

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Romania GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.40 4.30 12.60 -7.40 1996 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-03-10 07:00 AM YoY 2nd Est Q4 4.3% 3.0% 4.3% 4.3%
2020-04-07 06:00 AM YoY Final Q4 4.3% 3.0% 4.3% 4.3%
2020-05-15 06:00 AM YoY Prel Q1 2.4% 4.3% 1.8% 2%
2020-06-09 06:00 AM YoY 2nd Est Q1 2.4% 4.3% 2.4%
2020-07-07 06:00 AM YoY Final Q1 4.3% 2.4%
2020-08-14 06:00 AM YoY Prel Q2 -14.4%
2020-09-08 06:00 AM YoY 2nd Est Q2 -14.4%
2020-10-09 06:00 AM YoY Final Q2 -14.4%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Romanian Q1 GDP Growth Rate Confirmed at 2.4%
The Romanian gross domestic product advanced 2.4 percent year-on-year in the first quarter of 2020, matching preliminary estimates, after a 4.3 percent expansion in the previous period, the second estimate showed. 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 government expenditure growth (0.7 percent vs 10.5 percent) slowed. Also, fixed investment expanded softer (5.9 percent vs 15.7 percent). In addition, net foreign demand contributed negatively to growth, as exports went down 5.5 percent while imports rose 0.8 percent. On a seasonally adjusted quarterly basis, the economy grew 0.3 percent, the least since the third quarter of 2016, after a 1.2 percent growth in the fourth quarter.
2020-06-09
Romanian Q1 GDP Growth Weakest in Near 6 Years
The Romanian gross domestic product advanced 2.4 percent year-on-year in the first quarter of 2020, after a 4.3 percent expansion in the previous period, but beating market consensus of a 1.9 percent growth, a preliminary estimate showed. This was the weakest GDP growth since the second quarter 2014. On a seasonally adjusted quarterly basis, the economy grew 0.3 percent, the least since the third quarter of 2016, after a downwardly revised 1.2 percent growth in the fourth quarter.
2020-05-15
Romanian Q4 GDP Growth Rate Confirmed at 4.3%
The Romanian GDP advanced 4.3 percent year-on-year in the fourth quarter of 2019, matching second estimates, but above a 3.0 percent growth in the previous period. Both household consumption (7.3 percent vs 4.2 percent in Q3) and government expenditure growth (10.5 percent vs 5.7 percent) accelerated. Meantime, fixed investment continued to expand (15.7 percent vs 23.9 percent). On the other hand, net foreign demand contributed negatively to growth, as exports went up 6.4 percent while imports rose at a faster 7.3 percent. On a seasonally adjusted quarterly basis, the economy grew 1.5 percent, the most since the third quarter of 2018. Considering 2019 full year, the economy expanded 4.1 percent, below 4.4 percent the year before.
2020-04-07
Romanian Q4 GDP Growth Confirmed at 4.3%
The Romanian GDP expanded 4.3 percent year-on-year in the fourth quarter of 2019, matching preliminary estimates, but above a 3.0 percent growth in the previous period, a second estiimate showed. Both household consumption (7.2 percent vs 4.2 percent in Q3) and government expenditure growth (5.9 percent vs 5.7 percent) accelerated. Meantime, fixed investment continued to expand (15.2 percent vs 23.9 percent). On the other hand, net foreign demand contributed negatively to growth, as exports went up 3.1 percent while imports rose at a faster 6.1 percent. On a seasonally adjusted quarterly basis, the economy advanced 1.5 percent, the most since the third quarter of 2018. Considering 2019 full year, the economy expanded 4.1 percent, below 4.4 percent the year before.
2020-03-10

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.