December 9, 2022

News 24a

News that matters

INS: Romania’s economy grew in the first semester, by 5.8% compared to the first semester of 2021

The Gross Domestic Product of Romania recorded, in the second quarter of 2022, an increase of 5.3% compared to the same quarter of 2021, both on the gross series and on the seasonally adjusted series, writes News.ro.

In the first semester of 2022, GDP increased, compared to the first semester of 2021, by 5.8%, both on the gross series and on the seasonally adjusted series, according to the provisional data (1) published on Wednesday by the National Institute of Statistics (INS). On a gross basis, the estimated Gross Domestic Product for the first semester of 2022 was 609,019 million lei at current prices, increasing – in real terms – by 5.8% compared to the first semester of 2021.

“The Gross Domestic Product recorded, in the second quarter of 2022, an increase of 5.3% compared to the same quarter of 2021 both on the gross series and on the seasonally adjusted series; In the first semester of 2022, the Gross Domestic Product increased, compared to the first semester of 2021, by 5.8%, both on the gross series and on the seasonally adjusted series; The seasonally adjusted series of the quarterly Gross Domestic Product did not change significantly, as a result of the revision of the estimates for the second quarter of 2022, compared to the “signal” version published in press release no. 207 of August 17, 2022″, according to INS data.

Seasonally adjusted series

The Gross Domestic Product – seasonally adjusted data – estimated for the second quarter of 2022 was 355,964 million lei current prices, increasing – in real terms – by 2.1% compared to the first quarter of 2022 and by 5.3% compared to the second quarter of 2021 .

The estimated Gross Domestic Product for the first semester of 2022 was 699,846 million lei at current prices, increasing – in real terms – by 5.8% compared to the first semester of 2021.

Raw series

The Gross Domestic Product – gross series – estimated for the second quarter of 2022 was 335,190 million lei at current prices, increasing – in real terms – by 5.3% compared to the second quarter of 2021.

The estimated Gross Domestic Product for the first semester of 2022 was 609,019 million lei at current prices, increasing – in real terms – by 5.8% compared to the first semester of 2021.

To the GDP increase, in the first semester of 2022 compared to the first semester of 2021, the following branches had more important positive contributions: Wholesale and retail trade; motor vehicle and motorcycle repair; transport and storage; hotels and restaurants (+2.2%), with a weight of 20.6% in GDP formation and whose volume of activity increased by 10.3%; Information and communications (+1.7%), with a weight of 6.9% in GDP formation and whose volume of activity increased by 23.9%.

Negative contribution to GDP growth was registered by industry (-0.2%), with a weight of 25.3% in GDP formation and whose activity volume decreased by -0.1%; Net taxes on the product, with a weight of 10.4% in GDP formation, contributed +0.5% to GDP growth, their volume increasing by 5.2%
From the point of view of GDP use, the increase was mainly due to: expenditure for the final consumption of households, the volume of which increased by 7.6%, contributing +4.7% to GDP growth; gross fixed capital formation, whose volume increased by 2.2%, contributing +0.5% to GDP growth.

Net export had a negative contribution to GDP formation (-3.9%), a consequence of the increase in the volume of imports of goods and services by 14.3%, compared to the increase of 7.7% in the volume of exports of goods and services .

The seasonally adjusted series of the quarterly Gross Domestic Product did not change significantly, the revision of estimates for the second quarter of 2022 compared to the “signal” version published in the press release of August 17, 2022 being insignificant. Seasonally adjusted series are recalculated quarterly in accordance with European practice.

Source link

1