Industrial Production in Romania
The Romanian economy recorded an average growth rate of 2.6% in industrial production in the decade to 2022, below the 3.2% average for Eastern Europe. In 2022, industrial production growth was -2.0%. For more industry information, visit our dedicated page.
Romania Industry Chart
Romania Industry Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 5.0 | -3.6 | -9.5 | 7.4 | -2.0 |
Decline in industrial output softens in November
Industrial output dropped 4.4% compared to the same month of the previous year in November, which was a less pronounced contraction than October's 5.1% decrease. The reading largely reflected stronger electricity, gas, steam and air conditioning supply production. In contrast, manufacturing production deteriorated. On a seasonally adjusted monthly basis, industrial output fell at a softer pace of 0.6% in November (October: -1.4% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 5.1%, down from October's minus 5.0% reading.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Romanian industry projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Romanian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Romanian industry projections.
Want to get access to the full dataset of Romanian industry forecasts? Send an email to info@focus-economics.com.
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