The Romanian gross domestic product contracted 1.4 percent year-on-year in the fourth quarter of 2020, following a 5.6 percent decline in the previous period. This was the third straight quarter of contraction in the GDP, but the weakest contraction in the current sequence, mainly due to a softer fall in government expenditure (-2.3% vs -8%). Also, exports dropped much less (-2.3% vs -6.4% in Q3) while imports (2.2% vs -3.4%) increased, amid an improving global demand. Meanwhile, household consumption continued to decline (-6.2% vs -4% in Q3). On the positive note, fixed investment grew faster (6.5% vs 2.8%). On a seasonally adjusted quarterly basis, the economy grew 4.8 percent, after a 5.6 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 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 May of 2021.

GDP Annual Growth Rate in Romania is expected to be 8.80 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 4.70 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 4.60 percent in 2022 and 5.00 percent in 2023, according to our econometric models.

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Romania GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.40 -5.60 12.60 -10.00 1996 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-12 07:00 AM YoY Final Q3 -5.7% -10.3% -6%
2021-02-16 07:00 AM YoY Prel Q4 -1.5% -5.7% -5.9% -6.1%
2021-03-09 07:00 AM YoY 2nd Est Q4 -1.4% -5.6% -1.5%
2021-04-08 06:00 AM YoY Final Q4 -1.4% -5.6% -1.4%
2021-05-18 06:00 AM YoY Prel Q1 -1.4%
2021-06-09 06:00 AM YoY 2nd Est Q1
2021-07-07 06:00 AM YoY Final Q1
2021-08-13 06:00 AM YoY Prel Q2


News Stream
Romanian Economy Shrinks at Softer Pace in Q4
The Romanian gross domestic product contracted 1.4 percent year-on-year in the fourth quarter of 2020, following a 5.6 percent decline in the previous period. This was the third straight quarter of contraction in the GDP, but the weakest contraction in the current sequence, mainly due to a softer fall in government expenditure (-2.3% vs -8%). Also, exports dropped much less (-2.3% vs -6.4% in Q3) while imports (2.2% vs -3.4%) increased, amid an improving global demand. Meanwhile, household consumption continued to decline (-6.2% vs -4% in Q3). On the positive note, fixed investment grew faster (6.5% vs 2.8%). On a seasonally adjusted quarterly basis, the economy grew 4.8 percent, after a 5.6 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.
2021-04-08
Romanian Economy Shrinks 1.4% in Q4
The Romanian gross domestic product contracted 1.4 percent year-on-year in the fourth quarter of 2020, better than an earlier estimate of a 1.5 percent contraction, after a downwardly revised 5.6 percent drop in the previous period. This was the third straight quarter of contraction in the GDP, but the weakest contraction in the current sequence, mainly due to a softer fall in government expenditure (-1.5% vs -8%). Also, both exports (-3.8% vs -6.4% in Q3) and imports (-0.1% vs -3.4%) dropped at a softer pace, amid improving global demand. On the positive note, fixed investment grew faster (6.5% vs 2.8%). Meanwhile, household consumption continued to decline (-5.5% vs -4% in Q3). On a seasonally adjusted quarterly basis, the economy grew 4.8 percent, after a downwardly revised 5.6 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.
2021-03-09
Romanian Q4 Economy Shrinks Less than Estimated
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.
2021-02-16
Romanian Economy Shrinks 5.7% in Q3
The Romanian gross domestic product shrank 5.7 percent year-on-year in the third quarter of 2020, better than an earlier estimate of a 6 percent contraction, and after a 10.3 percent fall in the previous period. This was the second straight quarter of contraction in the GDP as the COVID-19 crisis took a huge toll on the economy. Household consumption declined much less (-4 percent vs -13.7 percent in Q2) while both exports (-6.4 percent vs -28.5 percent) and imports (-3.4 percent vs -22 percent) fell at a softer pace. Meantime, government expenditure shrank much more (-8 percent vs -1.7 percent). On the positive note, fixed investment grew faster (2.8 percent vs 2.2 percent). On a seasonally adjusted quarterly basis, the economy expanded 5.8 percent, the most since the data began in the second quarter of 1995, after a 12.2 percent fall in the second quarter.
2021-01-12

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.