20.3 C
August 15, 2022

Industry and agriculture behind economy’s 3.5 pc growth in 2013

– Investments dropped by 9.3 pc last year.

The industrial sector’s 8.1 percent growth and the agriculture sector’s 23.4 percent growth were behind last year’s GDP growth, the National Statistics Institute (INS) announced yesterday. The INS has upheld its 3.5 percent economic growth estimate for 2013. “The most important contributions to the GDP growth registered in 2013 came from industry (+2.3 percent), which had a 30 percent share of GDP and whose volume of activity grew by 8.1 percent, and from agriculture, forestry and fishing (+1.1 percent), which has a lower share of GDP (5.6 percent) and whose volume of activity grew by 23.4 percent,” the National Statistics Institute (INS) shows in a communiqué.

Positive contributions to the GDP’s growth also came from information and communications, real-estate transactions, professional, scientific, technical, and administrative services activities, and from support services activities. Negative contributions to the GDP’s growth came from the constructions sector, bulk and retail trade, repair of auto vehicles and motorcycles, transport and storage activities, hotels and restaurants, financial intermediations and insurances.

The INS also shows that the net investments in the national economy dropped last year by 9.3 percent year-on-year, to RON 67.86 bln (EUR 15.3 bln). The industrial sector and the trade/services sector (bulk and retail trade, auto vehicle repairs) were the branches that registered a higher volume of net investments.

Compared to Q4 of 2012, the period analyzed shows a rise in the share of new construction works in total net investments (+4.7 percent) and in other expenditures (+3 percent). The share of net investments in equipment tools (including means of transportation) dropped by 7.7 percent.

According to the BNR data, last year foreign direct investments (FDI) totaled EUR 2.71 bln, up by 26.8 percent compared to 2012, the FDI thus reaching the highest level in the last four years.



Related posts

Ambassador Perez Paladino: Argentina could be gateway to Mercosur for Romania

Nine O' Clock

Instant Factoring survey: Company liquidity, a major issue for Romanian small business owners. Microenterprises had a debt ratio of 73% in 2018


Isarescu, BNR: Banks’ profitability improved in last five months