Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. GROSS DOMESTIC PRODUCTS IN Q3 2015 WAS, IN...

GROSS DOMESTIC PRODUCTS IN Q3 2015 WAS, IN REAL TERMS, BY 1.4%1 HIGHER, AS COMPARED TO Q2 2015

January 5, 2016

• As against the same quarter of 2014, the Gross Domestic Product recorded an increase by 3.6% for both unadjusted series and seasonally adjusted series; • In the period 1.I?30.IX 2015, Gross Domestic product increased by 3.7% as against the same period of the previous year, for both unadjusted series and seasonally adjusted series; • The seasonally adjusted series of quarterly Gross Domestic Product were re? adjusted as a result of the revision of the estimates for Q3 2015, but no differences were recorded as compared to the version published in the Press release no. 290 of November 13, 2015. The Romanian Gross Domestic Product (GDP) was up 3.7 percent in the nine months of this year as compared to last Jan.-Sept., both by gross series and seasonally adjusted series, shows provisional data published by the National Institute of Statistics on Friday. The GPD estimated for the first three quarters of this year totalled more than 527.5 billion lei worth of current prices for the seasonally adjusted series and stood at almost 498.48 billion lei for the gross series. All the economic sectors contributed to the GDP growth, except for agriculture, forestry and fishery (-0.5pct). Wholesale and retail trade, the repair of vehicles and motorcycles, transport and warehousing, hotels and restaurants made a positive contribution of 1.1 percent, accounting for 16.7 percent of GDP; the activity of such sector expanded 7.1 percent. Information and communications contributed 0.8 percent to the GDP growth, with a lower share in the formation of the GDP (6.7pct), but they recorded a significant rise in the volume of activity (12.8pct). Industry also made a positive 0.5 percent contribution, accounting for 22.7 percent of the GDP formation, while net product taxes contributed 0.8 percent to the GDP increase and held a 12.6 percent share in the GDP formation. In terms of the GDP use, the growth was chiefly the result of the end-consumption spending of the households, the volume of which went up 5.7 percent, contributing 3.5 percent to the GDP growth and of the gross formation of fixed capital with 1.5 percent contribution thanks to 6.8 percent increase in its volume. Negative contribution to the GDP growth was made by the net export (-1.0pct), as a result of the 5.7 percent rise in the exports of goods and services correlated with a higher rise in the volume of imports of goods and services at 8.0 percent. The GDP in the 3rd quarter was by 1.4 percent larger than in the 2nd quarter, in real terms. The Romanian economy expanded by 3.6 percent as compared to the same quarter in 2014, both by gross and seasonally adjusted series. The GDP estimated for the 3rd quarter of 2015 totalled 195.77 billion lei in current prices (gross series), on the rise by 3.6 percent from the 3rd quarter of 2014 in real terms. The gross domestic product by seasonally adjusted data was estimated for this 3rd quarter at 178.432 billion lei in current prices, posting a real-term growth of 1.4 percent from the 2nd quarter of 2015 and having expanded by 3.6 percent y-o-y, the Institute data reveals.

Read in full - click here
June Communications strengthens its management structure. Bianca Caragea appointed as Operations Manager

The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]

Western Romania: Babeș-Bolyai University establishes endowment fund

The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]

Romanian authorities reportedly mulling access fee for the Transfăgărășan mountain road

Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives.  The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]

J Balvin to perform in Dubai for first time at Untold Festival

Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages.  The festival is staged in partnership with […]

Over 17% of Romanians faced severe material deprivation in 2024, Eurostat says

More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat.  In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]

Animal rights march to take place in Bucharest in October

The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]