• Gross domestic product in Q4 2021 was, in real terms, by 0.1%1 lower, as compared to Q3 2021; • As against the same quarter of 2020, the Gross Domestic Product recorded an increase by 2.4% for unadjusted series and by 3.9% for seasonally adjusted series; • The unadjusted series, as well as the seasonally adjusted series, of quarterly Gross Domestic Product were recalculated as a result of the revision of the quarterly estimates for 2020 for reconciling them with the semi-final annual data, published in the release no. 322 of December 21, 2021, as well as a result of the revision of the estimates for Q1-Q4 2021, being modified as compared to the version published in the Press release no. 39 of February 15, 2022. Seasonally adjusted series The Gross Domestic Product – seasonally adjusted data - estimated for Q4 2021 amounted to 303812.0 million lei current prices, decreasing – in real terms – by 0.1% as against Q3 2021 and increasing by 3.9% as against Q4 2020, announced on Thursday, the National Institute for Statistics (INS). Unadjusted series The Gross Domestic Product estimated for Q4 2021 amounted to 355194.9 million lei current prices, increasing – in real terms – by 2.4% as against Q4 2020. The Gross Domestic Product estimated for the year 2021 amounted to 1179376.9 million lei current prices, increasing – in real terms – by 5.9% as against the year 2020. The contribution of resources and uses to the growth rate of GDP Resources Most of industries contributed to the GDP increase in the year 2021 as against 2020. Significant positive contributions had the following industries: - Wholesale and retail; motor-vehicles and motorcycles repair; transport and storage; hotels and restaurants (+1.7%), with a share of 19.0% in GDP, whose activity volume increased by 9.5%; - Industry (+1.0%), with a share of 213% in GDP, whose activity volume increased by 5.0 %; - Information and communication (+0.8%), with a share of 6.4% in GDP, whose activity volume increased by 13.4 %; - Net taxes on products (+0.8%), with a share in GDP of 9.5%, which recorded an increase in activity volume by 8.2%. Construction recorded a negative contribution to GDP growth rate (-0.1%) as a result of the volume decrease by 1.8%. Uses From GDP uses standpoint, the increase was, mainly, due to: - Final consumption expenditure of households whose volume increased by 7.8% contributing by +4.7% to the GDP growth rate; - Gross fixed capital formation, whose volume increased by 4.0% contributing by +0.9% to the GDP growth rate. Net export had a negative contribution to the GDP growth rate change (-1.5%), being influenced by the volume increase of imports of goods and services, by 13.7%, in correlation with a smaller increase of the volume of exports of goods and service, by 11.1%.
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 […]
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 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 […]
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 […]
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 […]
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 […]
