Romanian first half GDP up 0.8 percent to RON 248 bln

Newsroom 07/09/2012 | 09:26

Romania’s GDP expanded in the first semester by 0.8 percent to RON 248.6 billion (EUR 55.6 billion), sustained by gains in services and constrictions, while the final consumption added 0.7 percent, shows data from the National Statistics Institute (INS).

The economic growth was helped by services and constructions, which added 3.2 percent and 3.1 percent. Entertainment activities and repairs of home appliances gained 2.7 percent, while the information and communication activities increased by 1.7 percent.

Final consumption moved up by 0.7 percent in the first semester versus the similar period of last year, driven by a 1.1 percent expenditure hike for household consumption. The gross fixed capital formation soared by 14.1 percent.

The second quarter GDP grew by 1.2 percent in the second quarter against the same quarter last year to RON 131 billion (EUR 29.3 billion), due to significant gains of 6.1 percent in administrative and support services and 5.2 percent in constructions.

Social services fell by 1.9 percent while the agricultural activities shrank by 1.6. Other reductions were registered in financial intermediation and insurance and in retail trade, hotels and restaurants.

Romania collected 3.8 percent more taxes to the budget in the second quarter, due a “positive evolution” of the economy, said INS. Meanwhile, the internal demand added 0.9 percent, as a result of a 15.2 percent increase in the gross fixed capital formation.

Household consumption increased by 1.6 percent in the second quarter, while consumption expenses in public administration shrank by 1 percent, so the final consumption gained 1.1 percent.

The second quarter GDP was also supported by exports of goods and services that added 0.7 percent, while imports gained 0.2 percent.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue