• 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%.
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
The European Bank for Reconstruction and Development (EBRD) is lending up to EUR 29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme. The Bank’s investment will fund the renovation of up to 20 public buildings, including […]
This festive season, JW Marriott Bucharest Grand Hotel invites guests to embrace the extraordinary and transform each moment into a lasting memory. On New Year’s Eve, the hotel unveils The Grand Countdown — a luminous celebration of new beginnings, thoughtfully crafted across four distinctive venues, each with its own character and atmosphere. The night begins […]
