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January 27, 2023
BUSINESS

Eurostat: Romania’s economy records higher growth than EU average in Q4 2014

The GDP rose by 0.3 per cent in the Eurozone in Q4 2014 compared to the previous quarter and by 0.4 per cent in the European Union, whereas Romania’s economy recorded an advance by 0.5 per cent, the European Union’s Statistical Office Eurostat announced on Friday, in a press release.

According to some revised estimates made public on Friday by the Eurostat, the highest quarterly economic growths were recorded in Estonia and Sweden, both with an advance by 1.1 per cent, Hungary – 0.9 per cent, Germany, Spain and Poland – all with 0.7 per cent growth.

The Eurostat’s data also show that, in year-on-year pace, in Q4 2014, compared to the same quarter in 2013, the Romanian economy recorded a growth double (2.5 per cent) compared to the EU average (1.3 per cent) or the 0.9 per cent advance recorded by the Eurozone’s GDP. Economic growths higher than Romania’s one were seen in Poland (3.2 per cent), Great Britain (2.7 per cent), Estonia and Sweden (2.6 per cent).

In Romania’s case, the National Statistics Institute has informed that the GDP in 2014 was, in real terms, higher by 2.9 per cent than in 2013, mainly due to communications and industry. In the last quarter of last year, the GDP rose, in real terms, by 0.5 per cent compared to the previous quarter and versus the same quarter of 2013, it saw a 2.6 per cent advance in unadjusted terms and by 2.5 per cent in terms seasonally adjusted.

 

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