By categories of resources, the GDP growth was sustained mainly by gross value added (+1.8%), construction (+0,8%), agriculture and IT&C (+0.4% each).
Data did not change significantly compared to the statistics board’s previous statement released in March.
The activity volume in construction remained unchanged (111%), the same as in agriculture (110.2%) and IT&C (105.1%).
In 2023, industry had a negative contribution to GDP growth (-0.5%), and the activity volume did not change compared to the previous estimate (97.7%).
Wholesale and retail; motor-vehicles and motorcycles repair; transport and storage; hotels and restaurants from +0.2% to +0.1%, as a result of the change in the volume of activity by -0.2 percentage points (from 100.8% to 100.6%);
Financial intermediation and insurance did not contribute to GDP growth (+0.0%) in the two estimates, and activity volume modified by -0.1 percentage points (from 99.3% to 99.2%);
The volume of net taxes per product increased by 0.8 percentage points in the provisional version (2) compared to the provisional version (1), from 103.0% to 103.8%.
In the fourth quarter of 2023, Romania’s economy grew by 3.1% compared to the same period of 2022, in unadjusted data, and by 1.1% in seasonally adjusted data. Compared to the third quarter of 2023, in the fourth quarter of 2023, the country’s GDP edged down 0.5%, in line with statistical data released on April 9, 2024.
In terms of GDP uses, changes in the contribution to GDP growth in 2023, between the two estimates, were mainly due to:
– Individual final consumption expenditure of general government, from +0.2% to +0.4%, as a result of an increase in its volume by 2.2 percentage points, from 102.8% to 105.0%;
– Collective final consumption expenditure of general government, from +0.3% to +0.6%, as a result of an increase in its volume by 4.0 percentage points, from 102.9% to 106.9%;
– Gross fixed capital formation, from +2.9% to +3.6%, as a result of an increase in its volume by 9.4 percentage points, from 112.0% to 114.4%;