Romania’s economy edged 0.8% higher in 2024, significantly lower than the 2.4% growth recorded in 2023.
The country’s gross domestic product (GDP) was, in real terms, higher by 0.6% in the fourth quarter of 2024 compared to the third quarter of 2024 and 0.5% higher against the fourth quarter of 2023, in both unadjusted and seasonally adjusted data.
In terms of value, the GDP estimated for 2024 was RON1,760 billion in current prices, increasing – in real terms – by 0.8% against 2023. The GDP estimated for Q4/2024 stood at RON521 billion in current prices, increasing – in real terms – by 0.5% against Q4/2023.
In terms of contributions to the GDP growth in 2024, no major differences were recorded compared with data released on March 7, 2025:
– Agriculture, forestry and fishing from -0.4% to -0.2%, as a result of the change in the volume of activity by +4.6 percentage points (starting from 89.5% to 94.1%);
– Industry did not contribute to GDP growth (+0.0%) in the two estimates, and activity volume modified by -0.2 percentage points (from 100.0% to 99.8%);
– Construction recorded the same contribution (-0.2%) to the GDP change, between the two estimations, and activity volume modified compared to the previous estimate by -0.2 percentage points (from 97.6% to 97.4%);
– Wholesale and retail; motor-vehicles and motorcycles repair; transport and storage; hotels and restaurants from +0.4% to +0.3%, as a result of the change in the volume of activity by -0.4 percentage points (from 102.1% to 101.7%);
– Information and communication did not contribute to GDP growth (+0.0%) in the two estimates, and activity volume did not change compared to the previous estimate (100.3%);
– Financial intermediation and insurance did not contribute to GDP growth (+0.0%) in the two estimates, and activity volume did not change compared to the previous estimate (99.7%);
– Real estate activities recorded the same contribution (-0.1%) to the GDP change, between the two estimations, and activity volume did not change compared to the previous estimate (98.7%);
– Professional, scientific and technical activities; activities of administrative services and support services activities did not contribute to GDP growth (+0.0%) in the two estimates, and activity volume did not change compared to the previous estimate (100.1%);
– Public administration and defense; social insurance of public sector; education; health and social assistance recorded the same contribution to GDP growth (+0.1%) between the two estimates, and the volume of activity decreased compared to the previous estimate by 0.1 percentage points (from 100.6% to 100.5);
– Shows, culture and recreation activities; repair of households goods and other services recorded the same contribution to GDP growth (+0.2%) between the two estimates, and the volume of activity did not change compared to the previous estimate (106.8%).
In terms of GDP uses, changes in the contribution to GDP growth in 2024, between the two estimates, were mainly due to:
– Final consumption expenditure of households from +3.6% to +3.7%, as a result of an increase in volume by 0.1 percentage points, from 105.9% to 106.0%;
– Individual final consumption expenditure of General government from -0.2% to +0.1%, as a result of an increase in volume by 5.0 percentage points, from 97.0% to 102.0%;
– Collective final consumption expenditure of General government from -0.2% to +0.0%, as a result of an increase in volume by 2.1 percentage points, from 97.6% to 99.7%;
– Gross fixed capital formation, from -0.4% to -0.9%, as a result of a decrease in volume by 1.6 percentage points, from 98.3% to 96.7%;