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Bucharest
March 3, 2021
ECONOMY FINANCE&BANKING

INS: Romania’s GDP for 2019 increase in real terms by 4.1% compared to 2018

The estimated gross domestic product for 2019, semi-final data, was 1,058.190 billion lei current prices, on the increase in real terms by 4.1% compared to 2018, according to the National Institute of Statistics (INS).

Compared to the provisional version, in the semi-final variant, the nominal gross domestic product estimated for 2019 decreased by 0.15%.

According to the INS, in 2019, changes in the contribution to GDP growth, between the two estimates, were registered: constructions, from + 1% to + 0.4%, as a result of its volume shift by -10.3 percentage points (from 117.3% to 107%); information and communications, from + 0.4% to + 0.9%, as a result of the change in the volume of activity by + 8.7 percentage points (from 108.1% to 116.8%); real estate transactions, from + 0.4% to + 0.9%, as a result of the change in the volume of activity by +6.3 percentage points (from 105.7% to 112%); wholesale and retail trade; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants, from + 0.9% to + 0.6%, as a result of a -1.9 percentage point change in the activity volume (from 105.1% to 103.2%).

Also, changes in the contribution to GDP growth, between the two estimates, were recorded by the public administration and defense; social insurance in the public system; education; health and social assistance, from + 0.3% to + 0.6%, as a result of the change in the volume of activity by + 2.3 percentage points (from 102.5% to 104.8%); as well as net taxes on product, from + 0.8% to + 0.5%, as a result of its volume shift by -3.2 percentage points (from 108.5% to 105.3%).

By categories of uses, in 2019, more important changes of the contribution to GDP growth, between the two estimates, were registered in the following categories: the expenditure for the final consumption of the households, from + 3.8% to + 2.5%, as a result of the reduction in volume by 2.0 percentage points (from 106% to 104%); gross fixed capital formation, from + 3.8% to + 2.7%, as a result of the change in its volume by -5.2 percentage points (from 118.2% to 113%); the variation of inventories and acquisitions except for disposals of valuables, from -2.9% to -1.2%.

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