The Romanian gross domestic product shrank 6 percent year-on-year in the third quarter of 2020, matching the preliminary estimates, after a 10.3 percent contraction in the previous period. This was the second straight quarter of contraction in the GDP as the COVID-19 crisis took a huge toll on the economy. Household consumption declined much less (-4 percent vs -13.7 percent in Q2) while both exports (-8.3 percent vs -28.5 percent) and imports (-3.4 percent vs -22 percent) dropped at a softer pace. Also, government expenditure shrank less (-0.5 percent vs -1.7 percent). On the positive note, fixed investment expanded faster (2.3 percent vs 2.2 percent). On a seasonally adjusted quarterly basis, the economy grew 5.6 percent, the most since the data began in the second quarter of 1995, after a 12.2 percent fall in the second quarter. source: Institutul National de Statistica

GDP Annual Growth Rate in Romania averaged 3.03 percent from 1996 until 2020, reaching an all time high of 12.60 percent in the fourth quarter of 2004 and a record low of -10.30 percent in the second quarter of 2020. This page provides the latest reported value for - Romania GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Romania GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.

GDP Annual Growth Rate in Romania is expected to be -8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Romania to stand at 9.00 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 8.80 percent in 2021 and 3.80 percent in 2022, according to our econometric models.

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Romania GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-6.00 -10.30 12.60 -10.30 1996 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-08 06:00 AM YoY 2nd Est Q2 -10.5% 2.4% -14.4%
2020-10-09 06:00 AM YoY Final Q2 -10.3% 2.4% -10.5%
2020-11-13 07:00 AM YoY Prel Q3 -6% -10.3% -4% -4.3%
2020-12-08 07:00 AM YoY 2nd Est Q3 -6% -10.3% -6%
2021-01-12 07:00 AM YoY Final Q3 -10.3%
2021-02-15 07:00 AM YoY Prel Q4
2021-03-10 07:00 AM YoY 2nd Est Q4
2021-04-07 06:00 AM YoY Final Q4
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Romanian Economy Enters Recession
The Romanian gross domestic product shrank 6 percent year-on-year in the third quarter of 2020, matching the preliminary estimates, after a 10.3 percent contraction in the previous period. This was the second straight quarter of contraction in the GDP as the COVID-19 crisis took a huge toll on the economy. Household consumption declined much less (-4 percent vs -13.7 percent in Q2) while both exports (-8.3 percent vs -28.5 percent) and imports (-3.4 percent vs -22 percent) dropped at a softer pace. Also, government expenditure shrank less (-0.5 percent vs -1.7 percent). On the positive note, fixed investment expanded faster (2.3 percent vs 2.2 percent). On a seasonally adjusted quarterly basis, the economy grew 5.6 percent, the most since the data began in the second quarter 1995, after a 12.2 percent fall in the second quarter.
2020-12-08
Romanian Q3 Economy Shrinks More than Estimated
The Romanian gross domestic product contracted 6 percent year-on-year in the third quarter of 2020, after a 10.3 percent contraction in the previous period, and worse than market consensus of a 4 percent contraction, a preliminary estimate showed. This was the second straight quarter of contraction in the GDP, as the COVID-19 crisis took a huge toll on the economy. On a seasonally adjusted quarterly basis, the economy grew 5.6 percent, the most since the data began in the second quarter 1995, after an upwardly revised 12.2 percent fall in the second quarter.
2020-11-13
Romanian Q2 Economy Contracts at Record Pace
The Romanian gross domestic product contracted 10.3 percent year-on-year in the second quarter of 2020, better than the second estimates of a 10.5 percent contraction, after a 2.4 percent expansion in the previous period. This was the first contraction in the GDP since the fourth quarter 2010 and the steepest contraction since the series began in the first quarter 1996, as household consumption tumbled (-13.7 percent vs 3.8 percent in Q1) while both exports (-28.5 percent vs -5.5 percent) and imports (-22 percent vs 0.8 percent) slumped. Also, government expenditure shrank (-1.7 percent vs 0.7 percent). In addition, fixed investment expanded softer (2.2 percent vs 5.9 percent). On a seasonally adjusted quarterly basis, the economy shrank 11.9 percent, the most since the data began in the second quarter 1995, after a flat reading in the first quarter.
2020-10-09
Romanian Economy Shrinks 10.5% in Q2
The Romanian gross domestic product contracted 10.5 percent year-on-year in the second quarter of 2020, matching the preliminary estimates, after a 2.4 percent expansion in the previous period. This was the first contraction in the GDP since the fourth quarter 2010 and the steepest contraction since the series began in the first quarter 1996, as household consumption tumbled (-13.3 percent vs 3.8 percent in Q1) while both exports (-28.5 percent vs -5.5 percent) and imports (-21.6 percent vs 0.8 percent) slumped. In addition, fixed investment expanded softer (1.8 percent vs 5.9 percent). On the other hand, government expenditure growth accelerated (4.5 percent vs 0.7 percent). On a seasonally adjusted quarterly basis, the economy shrank 12.3 percent, the most since the data began in the second quarter 1995, after a 0.3 percent growth in the first quarter.
2020-09-08

Romania GDP Annual Growth Rate
On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (14 percent). Exports of goods and services account for 41 percent of GDP and imports account for 41 percent.