Romania GDP
Economic growth slows in Q1
According to a preliminary estimate, growth slowed in the first quarter, coming in at 2.3% on an annual basis (Q4: +4.5% yoy), undershooting market expectations. A full breakdown will not be available until 8 June. Weaker growth in external demand likely weighed on exports, but stronger year-on-year growth in retail sales in Q1 compared to Q4 should have aided private consumption.
On a seasonally adjusted quarter-on-quarter basis, the economy expanded 0.1% in Q4 (Q3: 1.0% qoq s.a.).
Commenting on the outlook, Nicolaie Alexandru-Chidesciuc from JPMorgan said:
“The country [Romania] should continue to perform well in the period ahead, despite expected fiscal consolidation. The main reason is related to increased absorption and usage of EU funds; we believe this ensures a stable growth path for Romania. […] In addition, we forecast a growth rebound in the CE3 region [Poland, Hungary and the Czech Republic] and in the Eurozone, which should provide an additional lift.”
Romania GDP Chart
This chart displays Economic Growth (GDP, annual variation in %) for Romania from 2013 to 2022.
Romania GDP Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 6.0 | 3.8 | -3.7 | 5.9 | 4.7 |
| GDP (USD bn) | 243 | 251 | 251 | 285 | 301 |
| GDP (EUR bn) | 206 | 224 | 221 | 241 | 286 |
| GDP (RON bn) | 959 | 1,064 | 1,067 | 1,187 | 1,410 |
| Economic Growth (Nominal GDP, ann. var. %) | 12.6 | 10.9 | 0.3 | 11.3 | 18.7 |