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Romania GDP growth slows in Q1

Romania’s economic growth decelerated to 2.4% year-on-year in the first quarter of 2020, compared to a 5% annual increase in the like quarter of 2019, non-adjusted flash data from the Bucharest-based National Institute of Statistics (INS) shows. The data confirms earlier flash estimates. 

Graphic by AlexLMX / Shutterstock.com

Final household consumption volume rose by 3.1% in the first quarter of the year. The agricultural sector output edged up by 0.5%, while gross fixed capital formation increased 5.9%. The industrial sector output lost 5.9%, while construction jumped by 23.3%. Imports of goods and services edged up 0.8%, while exports fell 5.5%.

On a seasonally adjusted annual comparison basis, gross domestic product growth slowed down to an annual 2.7%, from 5.1% in the first quarter of last year, the Bucharest-based INS said on June 9. Quarter-on-quarter, GDP grew 0.3% in the first quarter.