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February 8, 2023
BUSINESS

GDP increased by 2.3 pc in 2011




Seasonally adjusted unemployment rate stood at 7.5 percent in September.
The Gross Domestic Product (GDP) in 2011 (definitive data) advanced in real terms by 2.3 pc, to RON 557,348.2 M in current prices, against year 2010, the National Statistics Institute (INS) announced. Compared to the quasi-definitive variant, the nominal GDP estimated for 2011 advanced by 0.1 pc, informs an INS communique. According to the document, the construction sector was among the sectors that had in 2011 an important modification of the figure representing its contribution to the increase of the GDP, between the two estimations. The construction sector thus dropped to -1.7 pc, from -0.6 pc, following a -12.3 pc modification of the activity volume (from 93.6 pc to 81.3 pc), INS explains.
According to INS, the retail and wholesale trade sectors, the repairs of road vehicles and motorcycles; transport and storage; hotels and restaurants, reached from -0.3 pc to +0.2 pc (definitive data), following a modification of the activity volume by +3.9 percent points (from 97.9 pc to 101.8 pc). The net export of goods and services advanced from -0.5 pc to -0.2 pc, adds the communiqué. The evolution was also influenced by the 0.5 pc increase of the contribution held by the export of goods and services correlated with an increase of only 0.2 pc of the imports of goods and services. “During 2011, modifications of the contribution Payday Loans to the increase of the GDP, between the two estimations, registered the gross formation of fixed capital, from +1.8 pc to +1.9 pc, due to the modification of its volume by +0.4 percent points (from 107.3 pc to 107.7 pc),” INS informs.
Also, another INS report shows that the seasonally adjusted unemployment rate was estimated at 7.5 percent in September 2013, on a par with the previous month and up by 0.6 percentage points from September last year. The number of unemployed people (aged between 15 and 74) estimated for September this year is 747,000 persons, up both from the previous month (744,000 persons) and from the same month of the previous year (691,000 persons). ‘By sex, the unemployment rate for men exceeds the one for women by 1.7 percentage points (the values are 8.3 percent for men and 6.6 percent for women). For adults (25-74 years of age), the unemployment rate was estimated at 6.2 percent in September (6.8 percent for men and 5.4 percent for women),’ reads the above-mentioned document.
The statistical indicators estimated for September are calculated on the basis of the international technology (BIM) and the information comes from the investigation into the labour force in households, informs INS. The unemployment rate and the number of unemployed people are disseminated monthly by INS as ‘provisional data’ and are revised quarterly as new information is available.

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