INS: Economic growth of Romania in Q1 revised up to 3,9 per cent

The National Statistics Institute (INS) revised up the data referring to the economic growth registered by Romania in the first three months of 2014, from 3.8 percent to 3.9 percent, as compared to the similar period of 2013, as well as those to the last quarter of 2013, from 0.1 percent to 0.2 percent, according to data released by the INS.

2014-07-03 13:11:20

The Gross Domestic Product - seasonally adjusted data - estimated for the first quarter of 2014 was 161.159 billion RON current prices, on uptrend, in real terms, by 0.2 percent as against Q4, 2013 and by 4.0 percent as against Q1, 2013. On unadjusted series, the GDP estimated for Q1, 2014 was 126.384 billion RON current prices, on increase, in real terms, by 3.9 percent as against Q1, 2013.

As compared to the first provisory variant, the GDP dynamics recorded a 0.1 percent growth, and the total gross added value by 0.2 percent, thus increasing its contribution to the GDP by 0.1 percent. The net taxes amount and contribution on product have not changed.

The volume of the gross added value on branches of activity has registered more significant alterations in constructions (+2.0 percent); professional, scientific and technical activities; administrative activities and support activities (+1.4 percent).

For the analyzed period, the INS has revised down the negative contributions to the GDP increase brought by the professional, scientific and technical activities, the administrative services activities and the support services activities from 0.2 percent to 0.1 percent.

Likewise, the INS specifies that from the viewpoint of the GDP use significant modifications of the contribution to the GDP increase between the two estimations have recorded: the expenditure for the individual and collective final consumption of the local administrations, from 0.1 percent to -0.4 percent, as a result of the cut of their activity volume (from 100.7 percent to 95.8 percent, and from 101.1 percent to 94.9 percent, respectively), as well as the export of net export of goods and services which registered a 1.2 percent positive contribution to the GDP growth.