Better than expected: 3.5 percent growth for Romania's economy

Better than expected: 3.5 percent growth for Romania’s economy

Newsroom 14/02/2014 | 10:28

Romania’s economy grew faster than expected in 2013, fueled by a bumper harvest, growing exports and recovering activity in industry.

The national GDP went up 3.5 percent in 2013, acccording to data released on friday by the National Institute of Statistics. Authorities and analysts estimated a 2.8 percent growth, after a 5.2 percent increase in the first quarter.

Both annual and quarterly growth are at the highest levels since 2008.

“According to preliminary estimates, GDP in the 4th quarter increased by 1.7 percent compared to the 3rd quarter. Looking at the same quarter in 2012, the GDP registered a brute growth of 5.2 percent and 5.1 percent adjusted. GDP increased by 3.5 percent in 2013 on the year”, according to the INS press release.

The statistics represent “signal estimates’ and the preliminary results will be released on march 5. For 2014, IMF estimates the GDP will go up 2.2 percent.