The Romanian gross domestic product contracted 1.5 percent year-on-year in the fourth quarter of 2020, after a 5.7 percent contraction in the previous period, and much better than market consensus of a 5.9 percent contraction, a preliminary estimate showed. This was the third straight quarter of contraction in the GDP, as the COVID-19 crisis took a huge toll on the economy. On a seasonally adjusted quarterly basis, the economy grew 5.3 percent, after an upwardly revised 6.1 percent growth in the third quarter. For 2020 full year, the economy shrank by 3.9 percent, reversing from a 4.1 percent growth in 2019. source: Institutul National de Statistica
GDP Annual Growth Rate in Romania averaged 2.99 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 -10.30 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 February of 2021.
GDP Annual Growth Rate in Romania is expected to be -1.00 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 5.80 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 3.80 percent in 2022, according to our econometric models.