Romania’s GDP grew 5.3%, in real terms, in the fourth quarter of 2020, compared with the third quarter of 2020.
Compared with the fourth quarter of 2019, the country’s GDP contracted by 1.5%, for the unadjusted series, and by 1.7% for the seasonally adjusted series.
“The Gross domestic product flash estimates, as well as the provisional ones, are affected by the difficulties posed by the pandemic crisis and by the establishment of the State of emergency. These difficulties are connected to the collection of basic data representing entries for national accounts and have materialized by an increase of the non-response rate. To complete the information alternative data sources had been used in order to affect as less as possible the quality of the produced indicators. According to current practice, the data published today will be revised, according to the Press Release Calendar and the national accounts revision policy published on INS website, when new data sources become available,” the statistics board said in a statement.
For 2021, Romania’s government expects a 4.3% GDP growth and a GDP of RON1,116 billion, higher by 7%, at a level similar with 2019 level.