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February 28, 2021

Romania sees EU’s fastest quarterly economic growth in Q1 2016

+ Romania and Sweden recorded the highest economic growth in the EU – specifically 4.2 pc


With a seasonally adjusted GDP growth rate of 1.6 pc in Q1 2016, Romania registered the highest economic advance in the EU28, according to an estimate published on Tuesday by the European Statistical Office (Eurostat).

According to Eurostat, the seasonally adjusted GDP rose by 0.6 percent in the euro area (EA19) and by 0.5 percent in the EU28 during the first quarter of 2016, compared with the previous quarter.

The member states to see the highest growth rate in Q1 2016 compared with Q4 2015 are Romania (+1.6 pc), Cyprus (+0.9 pc), Spain, Lithuania, Austria and Slovakia (all +0.8 pc), Bulgaria and Germany (both +0.7 pc). Decreases were registered in Hungary (- 0.8 pc), Greece (- 0.5 pc) and Poland (- 0.1 pc), while GDP in Estonia remained stable.

Expressed as percentage change compared with the same quarter of the previous year, Romania and Sweden recorded the highest economic growth in the EU – specifically 4.2 pc, followed by Slovakia (3.7 pc) and Spain (3.4 pc). Greece was the only to see a decline (minus 1.4 pc).

According to Eurostat, the y-o-y GDP growth rate in the first quarter of 2016 was 1.7 pc in the euro area and 1.8 pc in the EU28, respectively.

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