Romania GDP Q2 2016


GDP growth accelerates to almost eight-year high in Q2

In second quarter of 2016, the economy expanded 6.0% over the same period of the previous year, the fastest rate of growth since Q3 2008, according to detailed data released on 6 September. The figure marked an acceleration compared to the 4.3% expansion observed in the first quarter and was in line with the preliminary estimate. On a quarter-on-quarter basis, GDP rose 1.5% in seasonally-adjusted terms in Q2, which mirrored the expansion seen in Q1.

Private consumption grew 11.2% in the second quarter, which was stronger than the 10.0% increase observed in the first and marked the largest expansion since Q3 2008. Growth in fixed investment jumped 10.6% in Q2, after registering an already robust 7.0% rise in Q1. In contrast, government spending moderated from Q1’s 2.8% increase to a 1.9% rise in Q2.

On the external side of the economy, exports rose 3.5% in Q2, up from 1.2% in Q1. Imports rose 11.0% in Q2, up from 8.0% in Q1. As a result, the external sector’s net contribution to overall economic growth worsened from minus 7.5 percentage points in Q1 to minus 9.6 percentage points in Q2.

FocusEconomics Consensus Forecast panelists expect Romania’s GDP to grow 4.5% in 2016, which is up 0.3 percentage points from last month’s estimate. For 2017, panelists see GDP growth of 3.5%.

Author:, Economist

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Romania GDP Chart

Romania GDP Q2 2016

Note: Year-on-year changes of GDP in %.
Source: National Institute of Statistics and FocusEconomics Consensus Forecast.

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