Eurostat: Romania scores highest economic growth in EU in Q3 2017

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Romania scored the highest growth in the Gross Domestic Product (GDP) among the 28 European Union member states, of 8.6 per cent compared with the same period last year, according to the preliminary data of the European Statistical Office (Eurostat).

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.5pct in both the euro area and the EU28 in the third quarter of 2017.

The highest growths in the EU were recorded in Romania (8.6 per cent), Latvia (6.2 per cent), the Czech Republic and Poland both 5 per cent) over July-September 2017. There were no drops recorded in the GDP in EU in Q3 2017 compared with the same period of 2016.

Seasonally adjusted GDP rose by 0.6pct in both the euro area (EA19) and the EU28 during the third quarter of 2017, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2017, GDP grew by 0.7pct in both zones.

The highest quarterly increases in EU, July-September, were recorded in Romania (2.6 per cent), Latvia (1.5 per cent), Poland and Finland (both 1.1 per cent). The only decrease was recorded in Denmark, of minus 0.3 per cent.

According to the “signal” estimates published on Tuesday by the National Institute of Statistics (INS), the Gross Domestic Product of Romania inched 2.6 per cent in real terms against the previous quarter and surged 8.8 per cent, as gross series, against the same time span last year, and by 8.6 per cent as seasonally adjusted series.