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February 4, 2023
BUSINESS

INS releases new statistics according to ESA 2010: Romania’s 2013 GDP 3.4 percent higher in real terms compared with 2012

Romania’s 2013 Gross Domestic Product was 3.4 percent higher in real terms than in 2012, shows semi-finalised data released on Tuesday by the National Statistics Institute (INS).

According to the cited source, the estimated gross domestic product for 2013 amounted to RON 637.583 billion in current prices, up 3.4 percent in real terms from 2012. Compared to the provisional version, in the semi-finalised statistical report, the estimated nominal GDP for 2013 is 0.3 percent less.

In April this year, the National Statistics Institute announced it would recalculate the Gross Domestic Product for 2013 according to the new European System of National and Regional Accounts (ESA) 2010.ESA 2010 Regulation has entered in force on 1 September 2014 and replaces ESA 1995 which was applied up to now in the countries of the European Union.
“In 2013, major changes in the contribution to the GDP growth between the two estimates were as follows: industry, from + 5.6 pct to + 0.9 pct, due to a -19.2 percent change in the activity amount (from 123 percent to 103.8 percent); wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, hotels and restaurants, from – 5.7 pct to – 1.1 pct, as a result of the 26.4 percentage point change in the activity amount (from 67.4 percent to 93.8 percent); financial brokerage and insurance from – 0.3 pct to + 0.2 pct due to a 16.4 percent change in the activity amount (from 88.6 percent to 105.0 percent),” reads the INS release quoted by Agerpres.

Other major changes in the contribution to the GDP growth were registered in real estate transactions, from – 0.1 pct to + 0.5 pct, due to a 6.8 percent change in the activity amount (from 98.9 pct to 105.7 pct); professional, scientific and technical activities, administrative services and support services, from + 1.5 pct to + 0.7 pct as an effect of the 14.5 percent change in the activity amount (from 129.2 pct to 114.7 pct ); public administration and defence, the public social security system, education, healthcare and social assistance, from + 0.8 pct to 0.0 pct, as an effect of the – 8.3 percent change in the activity amount (from 108.4 percent to 100.1 percent).

As regards spending of GDP in 2013, changes in the contribution to the GDP growth between the two estimates were as follows: spending for the final consumption of public administrations, from – 0.3 pct to – 0.7 pct, as a result of a volume reduction by 3.2 percentage points (from 98.4 percent to 95.2 percent ); the gross fixed capital formation, from – 0.9 percent to – 2.2 percent, due to change by 4.7 percentage points (from 96.8 percent to 92.1 percent); stock variation, which moved to positive, from – 0.3 percent to + 1.3 percent.

 

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