• 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%.
Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project. A young person will be able to establish or acquire […]
Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]
This year's edition of the George Enescu International Festival, the largest classical music event in the country, will feature performances from some of the top sopranos and mezzo-sopranos of the moment. Among them are Asmik Grigorian, Sonya Yoncheva, Kristine Opolais, Magdalena Kožená, Julia Lezhneva, Sarah Aristidou, Jennifer Holloway, Aylin Perez, Elsa Dreisig, Rachel Willis-Sørensen, Ruxandra […]
Globinvest, an asset management company from Cluj-Napoca, is set to launch an exchange-traded fund, or ETF, grouping together companies in the energy sector and several financial companies. Globinvest, a company with 30 years of experience on the Romanian capital market, will list the new entity on April 28 under the symbol GIBEFETF. Ilie Cenan, Chairman […]
Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD […]
The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes. Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]
