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May 17, 2022

Economic growth: 4.3 pc year-on-year in Q1

The National Statistics Institute’s (INS) second economic growth estimate shows that in Q1 the GDP was higher by 4.3 per cent year-on-year as a gross series and by 4.1 per cent year-on-year as a seasonally adjusted series.

The seasonally adjusted GDP was estimated in Q1 at RON 175,892.4 M in current prices, up by 1.5 per cent quarter-on-quarter and by 4.1 per cent year-on-year in real terms.

The GDP estimated in Q1 stood at RON 140,176.2 M in current prices, up by 4.3 per cent year-on-year in real terms.

Compared to the provisional variant (from June 5), the GDP dynamic remained the same, while the dynamic of the total gross added value dropped by 0.2 percentage points, lowering its contribution to GDP growth by 0.1 percentage points; the volume of net sale taxes grew by 0.5 percentage points while their contribution grew by 0.1 percentage points.

Industry was the most important contributor to GDP growth, with a share of 21 per cent, followed by wholesale and retail trade (17.5 per cent), real-estate transactions (10.5 per cent), IT&C industry (7 per cent).


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